IRS News Who can get more Economic Impact Payment money for children episode artwork

EPISODE · Apr 29, 2020 · 10 MIN

IRS News Who can get more Economic Impact Payment money for children

from Tax & Current Accounting Topics

IRS News Who can get more Economic Impact Payment money for children  https://www.irs.gov/newsroom/who-can-... https://accountinginstruction.info/ Millions of Americans have already received their Economic Impact Payments as the IRS continues to automatically send payments to more individuals. Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive their payment. The IRS will calculate the amount based on the income, filing status and dependent information on their most recently filed tax return.  While people who receive Supplemental Security Income and Veterans Affairs disability compensation and pension benefits will receive up to $1,200 automatically, some people in this group with children under 17 can receive up to an additional $500 for each qualifying child and need to act by May 5 to get it.

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