Tax and financial advice from the Silicon Valley expert.

How to get your rebate when you didn’t file an income tax return or you receive Social Security and have a dependent

The IRS has set up a web page for non-filers to request advance rebate payments.  (IR-2020-69)

Individuals who receive social security payments or Railroad Retirement benefits should receive their payments without having to apply for them, but the payments will be limited to the $1,200 for the recipient.  Individuals who didn’t file income tax returns for 2018 or 2019 can apply for payments for spouses who aren’t receiving the benefits and for dependent children under age 17 who would qualify for the child credit using the IRS web page.

These individuals should apply for the advance rebate at the IRS web page:

  • Individuals who didn’t file a 2018 or 2019 income tax return because their income was below the filing threshold;
  • Veterans beneficiaries and SSI recipients; and
  • Social security, social security disability income, and Railroad Retirement beneficiaries with qualifying dependents.

Here is the URL for the web page.

How does portability of a deceased spouse’s estate & gift tax exemption affect estate planning?

This week’s interview on Financial Insider Weekly is with attorney James V. Quillinan of Hopkins & Carley. Our interview subject is Our interview subject is "Estate planning with portability of a deceased spouse's federal estate and gift exemption amount".

Read More

Tax and financial advice from the Silicon Valley expert.