VA and SSI recipients act now to add eligible children to Economic Impact Payment

VA and SSI recipients act now to add eligible children to Economic Impact Payment  https://www.irs.gov/newsroom/va-and-s... https://accountinginstruction.info COVID Tax Tip 2020-50, May 4, 2020  People who receive Supplemental Security Income and Department of Veterans Affairs benefits who have children need to act by May 5 to quickly receive the full amount of their Economic Impact Payment. Those who need to act are those who receive SSI or VA Compensation and Pension benefits and didn't file a tax return in 2018 or 2019.  Their $1,200 payments will be issued soon. 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.