A large number of people, including some who haven’t filed tax returns before, or haven’t filed recently, will be receiving Economic Impact Payments (EIPs) soon. The IRS announced it is disbursing nearly 2 million payments in the sixth batch of EIPs, which are available through the American Rescue Plan Act. Also receiving payments this time will be people who earlier this year received payments based on their 2019 returns, but are eligible for a new or larger payment based on their recently processed 2020 returns. According to the IRS, this includes nearly 700,000 of these “plus-up” payments, with a value of nearly $1.2 billion, as well as many Social Security recipients. Call or visit our website for more information! www.mjscpa.com/
