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2100 Douglas Blvd, Roseville, CA

Estate Planning, Charitable Giving
And The Northern California Conference

The Planned Giving Department provides information to individuals that will assist them in using gift planning documents such as Wills, Trusts, Gift Annuities, Power of Attorney and Health Care Directives; that will provide for and protect family members and support God's work in Northern California and beyond.

Our department has received the highest possible accreditation by the North American Division of the General Conference of Seventh-day Adventists and certification for all of our planned giving professional staff. We are committed to assisting you with helpful information regarding the best way for you to benefit through a planned gift and to assist you with planning for the distribution of your estate. Please give us a call at 916-886-5699 and we will be happy to assist you.

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Friday August 14, 2020

Washington News

Washington Hotline

IRS to Distribute $500 Dependent Stimulus Payments

The IRS has announced that it will begin to distribute $500 Economic Impact Payments (EIPs) to approximately 365,000 individuals. These individuals are Non-Filers who registered prior to May 17, but did not receive $500 dependent EIPs due to an IRS software problem.

IRS Commissioner Charles Rettig testified before the Senate Finance Committee on June 30. He stated that an IRS software problem caused the failure to make the $500 dependent payment to the 365,000 individuals.

The Stimulus Payment FAQ on IRS.gov has a series of questions designed to help Non–Filers.

FAQ 49 explains that Non–Filers who are not required to file an income tax return and do not receive Social Security, Disability, Supplemental Security Income, Veterans Benefits or Railroad Retirement Benefits must use the tool. "The IRS won't have the information necessary to issue you an Economic Impact Payment –– unless you provide some basic information for yourself, your spouse, and any qualifying children under 17. Entering your bank account information will allow the IRS to deposit your payment directly in your account. Otherwise, your Payment will be mailed to you."

The FAQs note that a number of individuals were not required to file and used the Non-Filer tool to receive their stimulus payments. As stated in FAQ 53, some individuals received a $1,200 or $2,400 Economic Impact Payment, but did not receive the $500 EIP for each qualifying child.

FAQ 53 states, "The IRS will automatically issue the additional $500 EIP per qualifying child to affected individuals in early August for those who used the Non–Filers tool before May 17, 2020. Direct deposit payments are scheduled for August 5, 2020, and paper checks or debit cards are scheduled to be mailed August 7, 2020."

If you did not receive the additional $500 stimulus payment and qualify to receive the additional amount, you can go to IRS.gov and use the Get My Payment tool to check on the status of your EIP.

As the FAQ notes, if you received an EIP by direct deposit, the additional payment will be deposited to your bank account. If you did not have your EIP deposited to your bank account, a paper check will be mailed to you.

Editor's Note: The Phase IV Stimulus Bill being negotiated by House and Senate leaders is expected to include a second round of stimulus payments to individuals. These payments should be made in September or October.

Published August 7, 2020
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Power of Attorney

If you want to be sure that a person you trust will be able to make decisions for you when you are unable to do so, you can create a power of attorney agreement for healthcare or finances. A power of attorney for healthcare allows a person (known as your agent) to make decisions about the medical care you will or will not receive. A power of attorney for finances allows your agent to manage your financial affairs. Your agent must make decisions consistent with what they know your wishes are, even if they personally disagree. If they do not know your wishes on a particular matter, they must act in your best interest. You can give your agent broad authority to make decisions related to your financial or health care needs, or you can limit their authority to certain types of decisions. Depending on your needs, we can help you create a power of attorney agreement that will be active immediately, will go into effect if you become incapacitated, or will only be in effect for a limited time or under specific circumstances.

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