College students might qualify for Economic Impact Payment

Written on Nov 09, 2020

The IRS is urging any eligible self-supporting college student who does not need to file a tax return to register by Nov. 21 to receive an Economic Impact Payment before the end of the year. In advance of the National EIP Registration Day on Nov. 10, the IRS is reminding people who do not normally file a tax return they may be able to register for an Economic Impact Payment with a quick visit to the Non-Filers tool on IRS.gov. In particular, the IRS wants to remind self-supporting students with little or no income that they may be eligible for payments of $1,200 or more.

The IRS also encouraged tax pros and partners to share information about the upcoming EIP deadline with their clients and members. 

Remember, only self-supporting students who are not required to file a tax return should use the Non-Filers tool. Dependent students who are claimed as a dependent by their parents or someone else cannot get a payment. Recent college graduates recently claimed as a dependent on a tax return may be eligible to claim the EIP when they file their 2020 tax return in early 2021; see IRS.gov for more details.

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