Client Communication – March 27, 2020
Stimulus deal will include checks
The stimulus deal expected to be passed by the House and signed into law by the President will include sending checks directly to individuals. It is expected to take several weeks before the checks are distributed.
The Treasury plans to mail checks to the last address listed on the most recently filed tax return; either 2019 or 2018. If the tax returns were electronically filed, its possible that the refund will be generated sooner.
If a taxpayer or taxpayer’s dependent has moved since filing a tax return, then a form 8822, “Change of Address” should be completed. Time is of the essence, as it will take the Internal Revenue Service some time to process the change of address form.
A link to the Form 8822 is provided here: https://www.irs.gov/pub/irs-pdf/f8822.pdf
Please be advised
We have summarized available public information about this program and how it could affect you. We make no representations that we will update this information for subsequent changes. There are details that are not yet finalized. Please contact KHA Accountants, PLLC for questions regarding additional information.