Tax and financial advice from the Silicon Valley expert.

Some SSI and VA recipients must register by May 5 to receive bigger Economic Impact Payment

The IRS says Supplemental Security Income (SSI) and Department of Veterans Affairs (VA) beneficiaries must act by Tuesday, May 5 if they didn’t file a federal income tax return for 2018 or 2019 and they have qualifying dependents to increase their Economic Impact Payment.

$500 is added to the payment for a child that would qualify for the child tax credit.

Just go to IRS.gov and click “Non-Filers: Enter Payment Information Here.”

(IR-2020-86 https://www.irs.gov/newsroom/va-ssi-recipients-with-eligible-children-need-to-act-by-tuesday-may-5-to-quickly-add-money-to-their-automatic-economic-impact-payment-plus-500-push-continues)

Tax and financial advice from the Silicon Valley expert.