| |||
News EssentialsWhat's HotNews Releases IRS - The Basics IRS Guidance Media Contacts Facts & Figures Around The Nation e-News Subscriptions The Newsroom TopicsMultimedia CenterNoticias en EspaƱol Radio PSAs Tax Scams The Tax Gap Fact Sheets IRS Tax Tips Armed Forces Latest News Home IRS ResourcesCompliance & EnforcementContact My Local Office Filing Options Forms & Instructions Frequently Asked Questions News Taxpayer Advocate Where to File IRS Social Media | Issue Number: IR-2020-75Inside This IssueVeterans Affairs recipients will receive automatic Economic Impact Payments; Step follows work between Treasury, IRS, VA WASHINGTON – The Internal Revenue Service, working in partnership with the Treasury Department and the Department of Veterans Affairs, announced today that recipients of VA benefits will automatically receive automatic Economic Impact Payments. Veterans and their beneficiaries who receive Compensation and Pension (C&P) benefit payments from VA will receive a $1,200 Economic Impact Payment with no further action needed on their part. Timing on the payments is still being determined. Moving VA recipients into the automatic payment category follows weeks of extensive cooperative work between VA, Treasury, IRS as well as the Bureau of Fiscal Services. "Since many VA recipients typically aren't required to file tax returns, the IRS had to work with these other government agencies to determine a way to quickly and accurately deliver Economic Impact Payments to this group," said IRS Commissioner Chuck Rettig. "Additional programming work remains, but this step simplifies the process for VA recipients to quickly and easily receive these $1,200 payments automatically. We deeply appreciate the sacrifices and service to our country by each and every veteran and their families, as well as the assistance of VA and the Bureau of Fiscal Services in this effort." No action needed by most taxpayers Earlier this month, the IRS took a similar action to ensure those receiving Social Security retirement or disability benefits, Supplemental Security Income and Railroad Retirement benefits can receive automatic payments of $1,200. While these groups receive Forms 1099, many in this group don't typically file tax returns. Many people in these groups are expected to see the automatic $1,200 payments later this month, with SSI payments expected to start in early May. For eligible taxpayers who filed tax returns for 2019 or 2018, they will also receive the payments automatically. About 80 million payments are hitting bank accounts this week. For benefit recipients with dependents, extra step needed to claim $500 for children; Register now for earlier delivery The law provides eligible taxpayers with qualifying children under age 17 to receive an extra $500. For taxpayers who filed tax returns in 2018 or 2019, the child payments will be automatic. However, many benefit recipients typically aren't required to file tax returns. If they have children who qualify, an extra step is needed to add $500 per child onto their automatic payment of $1,200 if they didn't file a tax return in 2018 or 2019. For those who receive these benefits – including VA, Social Security retirement or disability benefits (SSDI), Railroad Retirement benefits or SSI – and have a qualifying child, they can quickly register by visiting "Non-Filers: Enter Payment Info" available only on IRS.gov. For those who can use this tool as soon as possible, they may be able to get earlier delivery of the child payments by having these added to their automatic payments. By quickly taking steps to enter information on the IRS website about them and their qualifying children, they can receive the $500 per dependent child payment in addition to their $1,200 individual payment. If beneficiaries in these group do not provide their information to the IRS soon, they will receive their $500 per qualifying child at a later date, depending on when they complete the registration process. The Treasury Department, not the VA, will make these automatic payments. Recipients will generally receive the automatic payments the way they receive their current benefits. For more information related to veterans and their beneficiaries who receive Compensation and Pension (C&P) benefit payments from VA, please visit VA.gov. Information for recipients using the IRS.gov Non-Filer and Get My Payment tools We recognize that many non-tax filing beneficiaries have already begun using the "Non-Filers: Enter Payment Info" tool to provide basic personal information to receive their EIP. There will be no interruption to payments being processed using this portal, and Veterans with internet access are encouraged to continue providing information and track their EIP through the "Get My Payment" tool. General information about the Economic Impact Payments is available on a special section of IRS.gov: https://www.irs.gov/coronavirus/economic-impact-payment-information-center 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. To use the new app or get information, taxpayers should visit IRS.gov. People should watch out for scams using email, phone calls or texts related to the payments. Be careful and cautious: The IRS will not send unsolicited electronic communications asking people to open attachments, visit a website or share personal or financial information. Remember, go directly and solely to IRS.gov for official information. More information The IRS has posted frequently asked questions on IRS.gov/coronavirus and will provide more updates as soon as they are available.
Thank you for subscribing to the IRS Newswire, an IRS e-mail service.
If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message. |
This email was sent to laura.rios@macombgov.org by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington DC 20535 |