Corona Virus Stimulus Announced – What you need to know

While the specifics of the Corona Virus relief package are being completed there is every possibility your eligibility will be based on your previous tax returns. People who have not filed tax returns in a few years may not be eligible for any immediate monetary relief or any future relief based on past filings.

What kind of relief is there?
Adults may each qualify for $1200 and there is a $500 additional benefit per child. However, there are details, caveats and income limits. Check out this link for details.

KMS Tax Prep is spreading the word that anyone with past taxes incomplete needs to get them in and filed as soon as possible to be eligible for the Corona Virus Relief.

KMS can help solve this puzzle.

While the IRS has moved this year’s tax day to July 15th, the relief is needed now and may be distributed in as little as three weeks from the official passing of the bill. If the Government bases relief on adjusted gross income from 2018 and there is no record of a return there will be no relief.

There is no time to waste!

Please share this information with as many people as you can so we can ensure families in need can qualify for any relief based on their tax returns. KMS Tax Prep remains fully operational and can file in all 50 states, doing everything remotely from a secure location.

Current Clients:
If you are curious about what this means for your situation and have not already filed your 2019 return refer to your KMS packet, Form 1040 Line 7 (for 2018) or if you’ve already filed 2019, refer to Form 1040 Line 8b.

Those who need guidance:

You can schedule an initial appointment through our matrix HERE  and we’ll do our best to get you in before the checks start being processed. The longer you wait, the less chance we’ll get to you in time!

 

One last thing:

Please don’t reach out to us now about the amount of relief you may qualify for. We are in the height of tax season and need to focus on preparing as many returns as possible to ensure others are eligible. Make sure to follow us on Facebook for updates. Facebook.com/KMSTaxPrep

Share this article and post on your social media boards and groups. Message family and friends and make sure they’re up to date on their filings.  Stay safe everyone! Don’t forget to wash your hands, cover your cough and file your taxes before the relief is issued!

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