For those with AGI exceeding $75,000 per individual or $150,000 per married couple filing jointly, payment amounts are reduced. Details on eligibility and payment amounts can be found at the IRS Economic Impact Payment Information Center, at https://www.irs.gov/coronavirus/economic-impact-payment-information-center.
Economic Impact Payments are being made both by electronic funds transfer and by check, depending on the most recent information the IRS has on file. One of the unfortunate results of relying on previous years’ filing information is that individuals who are recently deceased may be sent an Economic Impact Payment in error. The IRS has recently published guidance on this situation, and the following is copied directly from the Economic Impact Payment Information Center.
Q10. Does someone who has died qualify for the Payment? (added May 6, 2020)
A10. No. A Payment made to someone who died before receipt of the Payment should be returned to the IRS by following the instructions in the Q&A about repayments. Return the entire Payment unless the Payment was made to joint filers and one spouse had not died before receipt of the Payment, in which case, you only need to return the portion of the Payment made on account of the decedent. This amount will be $1,200 unless adjusted gross income exceeded $150,000.
A41. You should return the payment as described below.
If the payment was a paper check:
If the payment was a paper check and you have cashed it, or if the payment was a direct deposit:
For your paper check, here are the IRS mailing addresses to use based on the state:
If you live in…
then mail to this address
Maine, Maryland, Massachusetts, New Hampshire, Vermont
Andover Internal Revenue Service 310 Lowell St. Andover, MA 01810
Georgia, Iowa, Kansas, Kentucky, Virginia
Atlanta Internal Revenue Service 4800 Buford Hwy Chamblee, GA 30341
Florida, Louisiana, Mississippi, Oklahoma, Texas
Austin Internal Revenue Service 3651 S Interregional Hwy 35 Austin, TX 78741
New York
Brookhaven Internal Revenue Service 5000 Corporate Ct. Holtsville, NY 11742
Alaska, Arizona, California, Colorado, Hawaii, Nevada, New Mexico, Oregon, Utah, Washington, Wisconsin, Wyoming
Fresno Internal Revenue Service 5045 E Butler Avenue Fresno, CA 93888
Arkansas, Connecticut, Delaware, Indiana, Michigan, Minnesota, Missouri, Montana, Nebraska, New Jersey, Ohio, West Virginia
Kansas City Internal Revenue Service 333 W Pershing Rd. Kansas City, MO 64108
Alabama, North Carolina, North Dakota, South Carolina, South Dakota, Tennessee
Memphis Internal Revenue Service 5333 Getwell Rd. Memphis, TN 38118
District of Columbia, Idaho, Illinois, Pennsylvania, Rhode Island
Philadelphia Internal Revenue Service 2970 Market St. Philadelphia, PA 19104
A foreign country, U.S. possession or territory*, or use an APO or FPO address, or file Form 2555 or 4563, or are a dual-status alien.
Keep in mind that the information shared here is current as of our posting date. For the most current information, refer to the IRS Website. If you have questions about your Economic Impact Payment, speak with your Financial Advisor or a CERTIFIED FINANCIAL PLANNER™ professional. Our experts at The Trust Company are here to help. Contact us.
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