The IRS is urging any eligible self-supporting college students who do not need to file a tax return to register by Nov. 21 so they can 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 don’t normally file a tax return that they may be able to register for an Economic Impact Payment. All it requires is a quick visit to the Non-Filers tool on IRS.gov.
The IRS reminds self-supporting students with little or no income that they might be eligible for payments of $1,200 or more.
“SCACPA members need to advise their clients who have kids in college about this ASAP, because this is really hot,” said E. Lynn Nichols, SCACPA’s advisor and educator on Tax topics. “Note the deadline of Nov. 21 and the rules for whether the students qualify for a stimulus payment or not.”
Most eligible individuals automatically received their Economic Impact Payment. Those who do not have a filing obligation can only get their money by registering online with the IRS. The only way to do that is to use the Non-Filers tool, available exclusively on IRS.gov. Those eligible to use the tool can include people who receive little or no income, including many self-supporting students.
The IRS emphasized that only self-supporting students who are not required to file a tax return should use the Non-Filers tool. Dependent students do not qualify. This means that any student who is claimed as a dependent by their parents or someone else cannot get a payment.
Some recent college graduates from 2019 and 2020 might not have received an Economic Impact Payment because they were claimed as a dependent by their parents or someone else. The IRS reminds these graduates they may be eligible for the Economic Impact Payments when they file their 2020 tax return in early 2021.