If you are one of the millions of taxpayers who have an installment agreement with the IRS, you may be wondering whether you are eligible to receive a stimulus check amidst the COVID-19 crisis. The IRS has recently clarified this issue, and the answer is yes, you can still receive a stimulus check if you are on an installment agreement.

An installment agreement is an agreement between you and the IRS to pay your tax debt over time instead of in one lump sum. If you currently have an installment agreement with the IRS and are up-to-date on your payments, you are eligible for the stimulus payment. However, if you are behind on your payments and have a delinquent balance, the stimulus check will be applied towards paying off that balance and you may not receive any funds.

It is important to note that if you owe child support or have other unpaid federal debts, such as student loans, the IRS may intercept the stimulus payment to offset these debts. This means that the funds will not be directly deposited into your account, and instead, the amount of the offset will be applied towards your outstanding balance.

If you have already filed your 2019 tax return, the IRS will use the information from that return to determine your eligibility and the amount of your stimulus check. However, if you have not yet filed your 2019 return, the IRS will use information from your 2018 return.

In conclusion, if you have an installment agreement with the IRS, it is possible that you will still receive a stimulus check as long as you are current on your payments. However, it is important to note that if you have any delinquent balances or unpaid debts owed to the federal government, your stimulus payment may be offset to pay those debts. Be sure to keep up-to-date on your payments and if you have any questions or concerns, contact the IRS or a tax professional for guidance.