Important news about the Economic Impact Payments and the IRS “Plus $500 Push”
The Internal Revenue Service has announced that there is a limited window for those who receive Social Security Disability Income (SSDI), Social Security (SSA), and Railroad Retirement Benefits (RRB) who did NOT file a tax return in either 2018 or 2019 to register their dependent children so that they may receive the full amount of their Economic Impact Payments.
Anyone who meets these criteria must register eligible children by 12 PM EST on Wednesday, April 22, 2020, using the non-filers portal at IRS.gov. An eligible child is defined as a dependent under 17-years-old who has a social security number.
Taking this step by the deadline will ensure that the extra $500 per eligible child will be added onto their automatic payment of $1,200. Otherwise, according to the IRS, their current payment will remain at $1,200 and, by law, the additional $500 per eligible child would be paid when filing a 2020 tax return next year.
Federal recipients of Supplemental Security Income (SSI) and Veterans (VA) receiving benefits will also be required to register their children via the non-filers portal. However, at this time the IRS has not set a deadline for SSI and VA recipients to complete this registration. Nonetheless, it is advisable that SSI and VA beneficiaries do this as soon as possible to make sure that they receive the full amount they are entitled to through the Economic Impact Payment initiative. Let’s make sure that the “Plus $500 Push” is a success.
For answers to any additional questions concerning the Economic Impact Payment, please visit the IRS payment information center or Community Action’s Economic Impact Payments webpage. In addition, the IRS has created an instructional page on how to use the tools on irs.gov to get your economic impact payment.