August 27, 2020
As a result of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, consumers started to see some financial relief through EIP issued by the Internal Revenue Service (IRS). However, millions of individuals who do not normally file income taxes are entitled to EIP. These individuals have until October 15, 2020 to enter their information in the IRS Non-Filers Tool to receive their payment.
The Consumer Financial Protection Bureau (CFPB) just released the guide Helping Consumers Claim the Economic Impact Payment: A guide for intermediary organizations. The guide contains step-by-step information for direct service and community organizations frontline staff on how to:
- Discuss the EIP with clients;
- Determine if clients need to take action; and
- Support clients with what to expect and how to troubleshoot common issues or address scenarios such as not having a permanent address
The CFPB requests your help to spread the word and provide assistance to individuals who have yet to receive their EIP. The CARES Act calls on federal agencies, coordinated by the U.S. Department of the Treasury, to promote awareness of EIP and the CFPB is working with our partners at the IRS to help reach millions of people who are not required to file a tax return because their income falls below filing requirements.
Read our blog to learn more.
Your organization may work with the millions who have not yet accessed their EIP and therefore are uniquely situated to spread the word and support those you serve before October 15. They may be Supplemental Nutrition Assistance Program or Medicaid recipients, homeless, lacking access to technology, and/or having limited English proficiency and literacy. They may also be unbanked or underbanked or more generally disconnected from financial products and government institutions.
The CFPB will offer two webinars on Helping Consumers Claim the Economic Impact Payment: A guide for intermediary organizations where we will walk through the guide and answer questions. Register now for the date that works best for you!
- Thursday, September 3, 2020, 3:00 PM – 4:30 PM EST. Register here: http://icfconsulting.adobeconnect.com/eip1/event/registration.html
- Thursday, September 8, 3:00 PM – 4:30 PM EST. Register here: http://icfconsulting.adobeconnect.com/eip2/event/registration.html
If you have questions about the guide please contact TaxTime@cfpb.gov.
We appreciate your support in helping individuals and families access their EIP.
Office of Community Affairs
Consumer Financial Protection Bureau