Here's who needs to file a tax return ASAP to receive a coronavirus stimulus relief check, according to the IRS. (via CNBCMakeIt)
, the IRS confirmed that retirees who receive Social Security or Railroad Retirement benefits do not need to do anything to receive their payments, they will receive them automatically, just as they would their normal benefits payment.
The economic impact payments, as the IRS is calling them, will be available through the end of 2020, so if you can't file right away, you still have a few months to do so. But you won't receive a stimulus payment until you do. If you normally file taxes but haven't yet this year, the IRS is still urging you to do so so that it has your most up-to-date banking information for a direct deposit payment. While the U.S. Department of the Treasury announced it will set up an online portal for individuals to provide their banking information, it is not available yet.
The IRS is able to send payments more quickly via direct deposit than paper check: Direct deposit payments are expected to go out in mid-April, while checks
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