When the tax season arrives, if your income is less than the standard deduction which is $12,400 for single filers and $24,800 for joint filers, you aren’t required to file a tax return. While this can be a good thing as you don’t need to go through the trouble of filing a tax return, there are situations where you may be required to provide the non filers form.
Sometimes financial institutions like banks request your tax transcripts when applying for a loan or a credit card. Since you haven’t filed a return, you can only provide them with your non filers form also known as the non filing letter.
Non Filing Form for Stimulus Payment
Economic Impact Payments are being handed to those who are eligible. To get the full $1,200 check, your income must be less than $75,000 if single or $150,000 if filing jointly. The threshold begins after these amounts and the stimulus check completely phases out after $99,000 for single filers and $198,000 for joint filers.
These apply to the adjusted gross income, not the total income. So if you earned over $100,000 but your adjusted gross income is less than $99,000 as a single filer, you will get a stimulus check though it isn’t likely to be $1,200. You also don’t need to take any additional steps for getting your stimulus check. You will automatically receive your stimulus payment along with those who
- receive Social Security retirement, disability, or survivor benefits
- filed a tax return in 2018 or 2019
- recipients of VA compensation and pension benefits
- receive Railroad Retirement benefits
- receive Supplemental Security Income
As a non-filer, since you did not file a tax return, you will receive the full amount. That’s assuming you are not a college-aged (18 to 24) and nobody claimed you a dependent on their tax return such as your parents. Unfortunately, college students who have been claimed a dependent on someone else’s tax return are not eligible for the stimulus payments.
Getting the IRS Verification of Non Filing Letter
Regardless of the reason requesting the non filing form, you can get it from the IRS online. As far as the Internal Revenue Service is concerned, there is no difference between a non filing form and any other tax transcript.
Therefore, you will use the IRS Get Transcript to get your Verification of Nonfiling Letter. It is also a great way to the tax returns you filed in previous years.
Get Transcript is an online service where you can request the prior year tax returns. To get your tax transcript, you will need:
- Social Security Number
- Date of Birth
- Filing Status
- Mailing Address
- Personal Account Number
- Phone Number
Take note that you won’t be able to get non filing forms or prior year’s tax transcripts for every tax year. The IRS Get Transcripts only includes the tax transcripts for certain tax years. But don’t let this scare you, the non filing forms and the tax transcripts for the last 10 years are available for all taxpayers.