IRS: Today Is Deadline for Social Security, VA Beneficiaries to Get $500 Child Payment
Taxpayers in these groups must file a simple tax return by today or they won't get the child credits until they file for 2020.
In order to receive the additional $500 per child provided by the recent coronavirus rescue package, Social Security recipients and VA beneficiaries who didn’t file a tax return in 2018 or 2019 and also have children under age 17 must provide their dependents’ information to the IRS by today.
These individuals must complete a simple tax return.
GI Bill beneficiaries whose only source of income is GI Bill benefits — regardless of if they have dependents — were required to provide their information to the IRS by Monday to receive their economic impact payment.
These individuals’ $1,200 payments “will be issued soon,” the IRS said, “and, in order to add the $500 per eligible child amount to these payments, the IRS needs the dependent information before the payments are issued.”
If the information is not submitted in time, “their payment at this time will be $1,200 and, by law, the additional $500 per eligible child amount will be paid in association with a return filing for tax year 2020,” the IRS said.
IRS Commissioner Chuck Rettig said in a statement that “these groups will get $1,200 automatically, but they need to act quickly and use the Non-Filers tool on IRS.gov to get the extra $500 per child added to their payment. Everyone should share this information widely and help others with the Plus $500 Push, so that more Americans get more money as fast as possible.”
The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a $1,200 tax rebate for individuals making under $75,000. Couples making less than $150,000 will receive $2,400.
Families who qualify with dependent children will receive $500 per child.
The rebates phase out completely at $99,000 per individual and $198,000 per couple.
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