VA, SSI recipients with eligible children need to act by Tuesday, May 5 to quickly add money to their automatic Economic Impact Payment; ‘Plus $500 Push’ continues | Internal Revenue Service

VA, SSI recipients with eligible children need to act by Tuesday, May 5 to quickly add money to their automatic Economic Impact Payment; ‘Plus $500 Push’ continues | Internal Revenue Service.

1.  May 5 deadline approaching for VA, SSI recipients with eligible children to quickly add money to their automatic Economic Impact Payment

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The IRS reminded Supplemental Security Income and Department of Veterans Affairs beneficiaries to act by Tuesday, May 5, if they did not file a tax return in 2018 or 2019 and have dependents so they can quickly receive the full amount of their Economic Impact Payment. As the $1,200 payments will be issued soon 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. Otherwise, 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 deadline is quickly approaching for these groups so they can get their maximum Economic Impact Payment of $1,200 and $500 for each eligible child as quickly as possible," said IRS Commissioner Chuck Rettig. "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 

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[Commercial Appraiser CRE BLOG, 310.337.1973]

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Issue Number: 2020-18
Inside This Issue

1. May 5 deadline approaching for VA, SSI recipients with eligible children to quickly add money to their automatic Economic Impact Payment
2. Economic Impact Payments continue to be sent, Get My Payment tool enhanced; check IRS.gov for answers to common questions
3. Use “IRS Non-Filers: Enter Payment Info Here” tool to get Economic Impact Payment; many low-income, homeless qualify
4. Updated FAQs: Employee Retention Credit under the CARES Act
5. Special enrollment examination update
6. Revision of Form 656-Booklet, Offer in Compromise
7. IRS accepting applications for 2021 grants for Low Income Taxpayer Clinics
8. Business payment P.O. Boxes in Cincinnati and Hartford closing in 2020
9. Technical Guidance