While continuing to provide essential tax and accounting services to you, our clients. I wanted to provide you with updates on the Federal Stimulus Program along with activities at our firm.
First the Stimulus Program, as one might expect there is confusion and frustration associated with such a massive undertaking in such an accelerated time frame. The following represents my current understanding of the program as gleaned from sources such as the IRS, the NJCPA, AICPA, etc.; it is possible that changes will be forthcoming and I will attempt to keep you informed of significant changes as the information becomes available:
If we have filed your 2019 Return that included direct deposit banking information, the Federal Government began depositing stimulus payments on April 15, 2020:
• If you have already received your stimulus deposit, no further action is needed.
• If you have NOT received your stimulus deposit please visit WWW.IRS.GOV and click the “Get My Payment” button. Follow the instructions to determine the status of your stimulus payment.
[PLEASE NOTE – in an attempt to keep the website from crashing during heavy web traffic periods, the site may re-direct you to a site indicating “No Status Available”, do NOT panic, be patient and try again at a later time (the IRS recommends waiting 24-hours as the site is updated every 24-hours)].
If we have not yet filed your 2019 Return, stimulus payments will be based on your 2019 filing where applicable. If your 2019 return is not filed by the time your payment is ready to be issued, it will be based on your 2018 filing. (Some sources indicate that those payments will not be issued until after the 7/15/20 deadline for 2019 returns.)
Please know that we are working diligently on completing your return and our goal is to complete your return well in advance of the July 15, 2020 filing deadline. Please continue to monitor your email as we will be communicating any additional data needs or notifying you that your return is completed via email.
If you have not yet submitted your tax documents necessary for completing your 2019 Return, please remember that our office is not open to the public. We request that you utilize the US Postal Service or other carrier to deliver documents to our office. Additionally, the secure online portal, Onvio, is available for those of you that have registered (please contact me at joan@haltercpa.com if you wish to have a registration notification sent to you). If you would like to personally deliver them, you may utilize the drop box that is located at the sidewalk leading from the parking lot to the door. It is monitored Monday through Thursday from 9am until 5pm.
If you do not have direct deposit banking information on file with the IRS, please visit WWW.IRS.GOV and follow the instructions to enter current banking information (Please note, you will only be able to enter banking information if the IRS does NOT already have it. To mitigate fraudulent activities, the IRS will not allow you to change already submitted banking information. If the IRS does not have accurate direct deposit information, you will be issued a paper check, see below for details).
If you do not wish to provide direct deposit banking information, the IRS will begin issuing paper stimulus payments in late April 2020. The IRS is reportedly capable of issuing 5 million checks per week and it estimates that it will take approximately 20 weeks (September) to issue the expected number of paper checks. The IRS will issue checks based on the taxpayers’ adjusted gross income beginning with the lowest earners (below $10,000) and finishing with those at the upper end of the earning cap ($99k single, $198k married).
We are continuing to adapt our strategies to maintain the health of our Clients and Staff at Joan W. Halter CPA in the light of the COVID-19 virus. Since re-starting operations in late March, we have maintained a staggered working schedule, daily health self-monitoring, and frequent surface cleanings. Beginning Monday, April 20, 2020, we are further limiting our in-office staff with most of our associates working remotely. This change will not affect the level of service we provide but is intended to further mitigate the potential spread of the COVID-19 virus. While the office will remain closed to the public, our front desk will be staffed by Anne, from 9AM to 5PM, Monday through Thursday. Anne will be available for questions and to ensure the flow of telephonic communications to Staff during those time frames. As always, you can reach me by email at joan@haltercpa.com with questions or requests you might have.
My wishes are that you and your family have been and remain healthy in the face of this unprecedented situation. Please know we are doing our very best to uphold the “Best of Gloucester County” honor you have bestowed on us in years past and appreciate your business.
– Joan