Since May 1st, the IRS has been boosting a ‘Plus $500 Push’ campaign to get the word out to Supplemental Security Income (SSI) and Veterans Affairs (VA) Benefit Recipients who receive Compensation and Pension (C&P) benefits and have child dependents. The ‘Plus $500 Push’ is a reminder to let those of you who are SSI and VA Benefit Recipients know that you may be eligible to receive an additional $500 per child Economic Impact Payment through the CARES Act. The deadline is TODAY, May 5th and those of you who fit in this category would need to use the Non-Filers: Enter Payment Info Here Tool as soon as possible to receive the full amount of your Economic Impact Payment. As with all things, there are specific conditions that must be met in order to use the tool.
1) You must be an SSI or VA benefit recipient who also receives C&P benefits.
2) You must not have been required to file a 2018 or 2019 tax return. This may mean that either you do not have an income, your income is below $12,200, or you have a combined income of less than $24,400 if you are married.
3) You must have a qualifying dependent child or children that was under the age of 17 at the end of 2019 in addition to you receiving SSI and VA benefits.
Once you know that you meet these preliminary conditions, then on to the next phase. According to the IRS, know that if you are receiving SSI or VA benefits, you are already set to receive your $1,200 payments by mid-May automatically. However, if you have qualifying dependent children under the age of 17, the IRS actually needs the dependent’s information in order to be able to issue a payment for them. Otherwise, you will only receive your allotted $1,200.
To get your child dependent’s information to the IRS, you must use the Non-Filers: Enter Payment Info Here Tool on the IRS website. You will be asked for the following information:
1) Full name and current mailing and email addresses.
2) Date of birth and valid a Social Security number.
3) For direct deposit, have your bank account number, account type and routing number.
4) Identity Protection Personal Identification Number (IP PIN) you received from the IRS earlier this year, if you have one.
5) Driver’s license or state-issued ID if you have one.
6) For each qualifying child, you need their name, Social Security number or Adoption Taxpayer Identification Number and their relationship to you or your spouse.
Having all the information you need when you sit down to use the tool, it should take maybe about 15 to 20 minutes or less to complete. Go to ‘How To Complete the Non-Filers: Enter Payment Info Here Tool’ for instructions on how to use the IRS tool.
Remember, signing up for the additional benefit today will allow you to receive the maximum of your eligible Economic Income Payment in a single payment. After today’s deadline passes, processing begins on the $1,200 payment for SSI and VA C&P beneficiaries and you will no longer be eligible to use the Non-Filers tool to add eligible children. At this point, the law requires the additional $500 per eligible child amount to be paid in association with a return filing for tax year 2020. Click here to go directly to the form.
