On Friday, Apr. 24 the Internal Revenue Service issued a special alert for the Department of Veterans Affairs beneficiaries about their Economic Impact Payment, otherwise known as the CARES Act coronavirus relief payment.
Automatic payments are expected to arrive beginning mid-May for VA benefits recipients.
However, VA beneficiaries with dependents must act by May 5 if they didn’t file a tax return in 2018 or 2019 so they can receive the full amount of their payment.
Payment information for VA beneficiaries who have a child(ren), but don’t file a tax return
VA recipients who have children and who weren’t required to file a tax return in 2018 or 2019 must visit the Non-Filers: Enter Payment Info Here tool on IRS.gov and complete the information by May 5, 2020. The Non-Filers tool is available in English and Spanish.
VA benefits recipients will be asked to enter information on the IRS website about themselves and their qualifying children, in order to automatically receive the $500 per dependent child payment in addition to their individual $1,200.
Once the May 5 deadline passes and processing begins on the $1,200 payment, they will not be eligible to use the Non-Filers tool to add eligible children. Otherwise, VA benefits recipients will receive a payment of $1,200, and, by law, the additional $500 per eligible child amount would not be paid until associated with a return filing for the 2020 tax year.
Stimulus payment information for VA recipients who don’t have a child(ren) and don’t file a tax return
VA benefits recipients who did not file a tax return in the last two years and do not have dependents do not need to take additional action to receive their $1,200 stimulus payment.
For more information related to veterans and their beneficiaries who receive payments from VA, please visit VA.gov.
Watch out for scams related to Economic Impact Payments
The IRS urges taxpayers to be on the lookout for scams related to the Economic Impact Payments. There is no fee required to receive these payments.