1. May 5 deadline
approaching for VA, SSI recipients with eligible children to quickly add money
to their automatic Economic Impact Payment
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.
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
Posted by: Commercial Appraiser CRE BLOG, 310.337.1973 | May 02, 2020 at 01:25 PM