Keeping Economic Impact Payment Notice

If you received an Economic Impact Payment, you would have received Notice 1444, Your Economic Impact Payment.  This Notice should be kept with your tax records for tax year 2020. This notice provides information about the amount of the payment, how the payment was made and how to report any payment that wasn’t received.

For security reasons, the IRS will mail this notice to each recipient’s last known address within 15 days after the payment goes out. It’s especially important for people to keep this notice if they think their payment amount is wrong. When filing the 2020 tax return, taxpayers can refer to Notice 1444 and claim additional credits, if the taxpayer is eligible for them.

This Notice should be kept with a copy of your tax returns and all other important tax records.  The IRS recommends keeping these documents for at least three years.  A prior return can contain information needed to prepare a subsequent return. 

Share

Tags:

Kay Sowa

About the Author

Kay Sowa is a paralegal in the Trusts and Estates Group at Capehart & Scatchard, P.A. She is an IRS Enrolled Agent, an Accredited Estate Planner®, and a Certified Trust and Financial Advisor. She oversees the trust and estate administration practice for the firm. She is an accomplished author and lecturer who has frequently spoken on behalf of a number of organizations including the National Business Institute and the Institute of Paralegal Education.

Post a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Top