Taxes, Stimulus and COVID-19

Changes to the 2019 Tax Filing Season

  • The filing deadline for personal tax returns has been extended from April 15th, 2020 until July 15th, 2020.
  • The extension is for returns filed with the IRS and most states.
  • Payment of taxes due on the personal tax return have also been extended to July 15th, 2020.
  • Extension is for Federal tax returns and most states.

If you have already filed your tax return electronically and plan to have the payment of your tax balance due taken out of your personal account between now and April 15th, 2020, then you can change and extend the payment via the following steps:

  1. Call 888-353-4537 to stop the current payment.
  2. Call 800-829-1040 or go to https://www.irs.gov/payments/direct-pay to reschedule your payment prior to July 15th, 2020.

NYS DEPARTMENT OF TAXATION AND FINANCE

If you already scheduled your return, extension, or estimated tax payment due on April 15, 2020, your direct debit payment will not be automatically rescheduled to occur on July 15, 2020.

You must cancel and schedule a new direct debit payment.

To cancel a payment scheduled to be withdrawn from your bank account on a future date, you must submit your request to cancel the scheduled payment at least two business days before the scheduled settlement date. Use View and cancel scheduled payments in your Online Services account to cancel the payment.

To schedule a new payment for a later date, see How to submit a payment using your Online Services account.
If you don’t have an Online Services account, see Create account. If you need assistance creating an account or would prefer to cancel your scheduled direct debit payment by phone, please call 518-485-7884.

Can I cancel a scheduled payment related to an existing bill?

If you have been directly impacted by the novel coronavirus (COVID-19) outbreak and you are unable to make your regularly scheduled payments to the Tax Department, please contact us at 518-457-5434 during regular business hours—Monday through Friday, 8:30 a.m.–4:30 p.m. For faster service, please have your Social Security number or employer identification number (EIN) available when you call.
NYS Department of Tax and Finance can assist you with the following payment issues related to existing bills:

  • installment payment agreement (IPA) payments,
  • income execution payments, and
  • other collection-related matters

Small Business Guidance & Loan Resources

The U.S. Small Business Administration (SBA) has set up resources on their website to assist small businesses during recent events and economic downturns.  Go to https://www.sba.gov/ for information and to apply for a loan.

US Chamber of Commerce - Coronavirus Emergency Loan Checklist

 

The Coronavirus Act, Relief, and Economic Security (CARES) Act of 2020

A landmark $2.2 trillion dollar piece of legislation was passed to assist U.S. citizens and businesses weather the pandemic and economic downturn.  The Act contains several important components and the following are some of the most important to all individuals and families.

Economic Impact Payment

Tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive the full payment.  For filers with income above thos amounts, the payment amount is reduced by $5 for each $110 above $75,000/$150,000 thresholds.  Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible.

Eligible taxpayers who filed tax returns for either 2018 or 2019 will automatically receive an economic impact payment of up to $1200 for individuals or $2400 for married couples.  Parents also receive $500 for each qualifying child with a maximum of $3400.

FAQs

How will the IRS know where to send my payment?

The vast majority of people do not need to take any action. The IRS will calculate and automatically send the economic impact payment to those eligible.

For people who have already filed their 2019 tax returns, the IRS will use this information to calculate the payment amount. For those who have not yet filed their return for 2019, the IRS will use information from their 2018 tax filing to calculate the payment. The economic impact payment will be deposited directly into the same banking account reflected on the return filed.

The IRS does not have my direct deposit information. What can I do?

In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.

I am not typically required to file a tax return. Can I still receive my payment?

Yes. People who typically do not file a tax return will need to file a simple tax return to receive an economic impact payment. Low-income taxpayers, senior citizens, Social Security recipients, some veterans and individuals with disabilities who are otherwise not required to file a tax return will not owe tax.

How can I file the tax return needed to receive my economic impact payment?

IRS.gov/coronavirus will soon provide information instructing people in these groups on how to file a 2019 tax return with simple, but necessary, information including their filing status, number of dependents and direct deposit bank account information.  EG Tax service will file simple information return starting at $25.00.

I have not filed my tax return for 2018 or 2019. Can I still receive an economic impact payment?

Yes. The IRS urges anyone with a tax filing obligation who has not yet filed a tax return for 2018 or 2019 to file as soon as they can to receive an economic impact payment. Taxpayers should include direct deposit banking information on the return.

I need to file a tax return. How long are the economic impact payments available?

For those concerned about visiting a tax professional or local community organization in person to get help with a tax return, these economic impact payments will be available throughout the rest of 2020.

Where can I get more information?

Check back often to the EG Tax website or follow us on Facebook or Twitter.  You can call 716-632-7886.

What if I received a stimulus check or direct deposit for a deceased spouse or family member?

If the payment was a paper check:

  1. Write "Void" in the endorsement section on the back of the check.
  2. Mail the voided Treasury check immediately to the appropriate IRS location listed below.
  3. Don't staple, bend, or paper clip the check.
  4. Include a note stating the reason for returning the check. 

If the payment was a paper check and you have cashed it, or if the payment was a direct deposit:

  1. Submit a personal check, money order, etc., immediately to the appropriate IRS location listed below.
  2. Write on the check/money order made payable to “U.S. Treasury” and write 2020EIP, and the taxpayer identification number (social security number,  or individual taxpayer identification number) of the recipient of the check.
  3. Include a brief explanation of the reason for returning the EIP.

Mail to:

Brookhaven Refund Inquiry Unit
5000 Corporate Ct.
Mail Stop 547
Holtsville, NY 11742

 

Relief for Workers Affected by Coronavirus Act

Guidance for Self-Employed Individuals

"How to File an Unemployment Insurance Claim on NY State Department of Labor's Website"

CARES Act and NY Unemployment Need to Know

CARES Act and NY Unemployment Flow Chart

CARES Act and NY Unemployment FAQs