Office Closure: Beginning July 2, the Delap office will close for an interior remodel. The remodel project has been in the works for months and will include an updated reception area as well as new and improved conference rooms. The project is scheduled to last a few months, with the office anticipated to reopen sometime around the holidays. We will continue to assist our clients with their accounting and advisory needs during theĀ  remodel, and we appreciate your patience and understanding during this renovation process.

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IRS Opens Registration Portal for Economic Impact Payments

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Today the Internal Revenue Service (IRS) opened a portal so those who are not required to file income tax returns can register for Economic Impact Payments established under the CARES Act.

Registration can be completed at the IRS Free File website.

The following individuals must register in order to receive an Economic Impact Payment:

  • Recipients of Veterans disability compensation, a pension, or survivor benefits from the Department of Veterans Affairs, or
  • Individuals whose income level does not require them to file a tax return.

Complete the free online form so that the IRS can identify you and your dependents and receive valid direct deposit and address information about you. This information allows the IRS to calculate your eligibility and send you the Economic Impact Payment.

The following individuals should not register:

  • Recipients of Social Security, Railroad Retirement, or Social Security Disability Insurance
  • Taxpayers who have already filed a 2019 federal income tax return.
  • Taxpayers who are required to file a 2019 federal income tax return.

Individuals who were not a U.S. citizen or U.S. permanent resident in 2019 are not eligible for the payment.

The base Economic Impact Payment amount is $1,200 per individual and $2,400 per couple. An additional $500 is allowed for each qualifying child under the age of 17. The payment is phased out if a taxpayer exceeds income thresholds. These Economic Impact Payments do not count as taxable income.

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