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College Students to register by Nov 21 to get Economic Impact Payment

On Nov 5th, the Internal Revenue Service (IRS) urged any eligible self-supporting college student who doesn't need to file a tax return to register by November 21 so they can receive an Economic Impact Payment before the end of the year. Dependent students do not qualify. Any student who is claimed as a dependent by their parents or someone else cannot get a payment.

Students who either need to or want to file a regular return should not use the Non-Filers tool. The IRS reminded students who have summer jobs or part-time positions not to overlook filing a tax return so they can receive a potential federal tax refund.

Recent college graduates from 2019 and 2020 may be eligible for the Economic Impact Payments when they file their 2020 tax return in early 2021.Anyone using the Non-Filers tool can speed up the arrival of their payment by choosing to receive it by direct deposit. Those not choosing this option will get a check.

Normally, a self-supporting student who registers will receive a $1,200 payment if they are single or $2,400 if married and file a joint return. If they have dependent children, they will normally also get an additional $500 for each qualifying child.

If you or anyone you know needs help with filing tax returns give us a call at 602-904-6535 or email me at vanim@getmytaxrelif.com


Vani Murthy, CPA | 11/21/2020