Federal Economic Impact Payments
The federal government is expected to release Economic Impact Payments to US taxpayers due to the COVID-19 pandemic.
Note: This is not an Illinois state government program. The Internal Revenue Service (IRS) administers the program and will have the most up-to-date information here:
Do I need to do anything?
Since this is a program administered by the federal government, taxpayers are strongly encouraged to
visit the IRS website for the most up-to-date information.
Most taxpayers will not need to do anything. Economic Impact Payments are based on a tax filers' 2019 or 2018 federal tax return and will be sent to the bank account of record, reflected on their tax filing.
The IRS is developing a web-based portal where taxpayers can update their information, if necessary.
Who is eligible? How much are the payments?
According to the IRS, taxpayers with incomes below $75,000 for individual filers or $150,000 for joint filers will receive a full payment. Taxpayers with incomes up to $99,000 for individual filers or $198,000 for joint filers will receive a partial payment.
Full payment equates to $1,200 for individuals or $2,400 for married couples, and up to $500 for each qualifying child.
What if I did not file a federal 1040 tax return?
Illinois residents with questions should
consult the IRS website for more information.
The IRS has indicated it will use information from Forms SSA-1099 or RRB-1099 to generate payments for those who do not normally file tax returns. This includes senior citizens, Social Security recipients and railroad retirees. Other non-filers are directed to enter information at
a newly launched IRS website to generate payments.