With the recent passage of The CARES Act — a $2 Trillion Coronavirus aid package — funds were earmarked for taxpayer stimulus assistance, and many of the concerns regarding how those funds will be paid out are addressed below. While we await further clarification from the IRS, we can confirm the following items:
Many Jackson Hewitt® clients should be eligible to receive up to $1200 for individuals, $2400 for joint taxpayers, and an additional $500 for each dependent child under 17. Extensive information on eligibility and income thresholds is available on Jackson Hewitt’s Frequently Asked Questions
The amount each taxpayer qualifies for will likely be based on information from their most recent tax filing. If you have already filed your 2019 taxes, the IRS has your most recent information and will determine the amount you will receive using this information. According to the IRS, most taxpayers are not required to take any actions to activate this assistance.
In the past, some Jackson Hewitt clients received tax refunds on prepaid cards. We are awaiting clarification on whether that will be an option for this disbursement. If you would like to request a new card or update your information, log into your prepaid account, select “Settings”, and modify the appropriate option. Prepaid cards usually arrive within 7-10 business days.
The IRS recently stated that it expects to begin payments of the stimulus within three weeks, but it could take longer to receive those funds. In the interim, please visit www.jacksonhewitt.com/tax-help/coronavirus/ for updated information on Jackson Hewitt’s response. Information regarding The Department of Treasury and The IRS’ ongoing efforts can be found at https://www.irs.gov/coronavirus. We wish you and your loved ones good health as we all work together to halt the spread of the Coronavirus, and we look forward to servicing your tax needs for many decades to come.