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Some Americans who didn’t receive $500 stimulus checks for their kids just got another chance to claim the money this fall instead of waiting until next year. Taxpayers receiving certain federal benefits now have until Sept. 30 to submit information about their children and other dependents who make them eligible for the additional cash, the …
Some Americans who didn’t receive $500 stimulus checks for their kids just got another chance to claim the money this fall instead of waiting until next year.
Taxpayers receiving certain federal benefits now have until Sept. 30 to submit information about their children and other dependents who make them eligible for the additional cash, the Internal Revenue Service said.
The expanded window is meant to help people who missed earlier deadlines to claim the so-called economic impact payments provided under the CARES Act, the $2.2 trillion spending package Congress passed to blunt the economic impact of the coronavirus pandemic.
The IRS gave Social Security and Railroad Retirement benefit recipients who don’t usually file tax returns just two days’ notice in April to submit details about their dependents before the feds issued their regular $1,200 stimulus checks.
Anyone who didn’t enter the information within that small window now has another six weeks to do so through the IRS’s online form. Otherwise they would have had to wait to claim the benefit on the 2020 income tax return they will file next year.
The IRS expects to distribute the $500-per-kid payments by mid-October for those who make the Sept. 30 deadline — but those who miss it won’t see the money until 2021. The new date also applies to people on Supplemental Security Income and Veterans Affairs benefits, who initially had until May 5 to submit their info, according to the feds.
Any benefit recipients who filled out the form after May 5 will also get their money in October, the IRS said. The agency has also given Americans who don’t have to file tax returns because they have very low incomes — typically less than $12,200 for individuals and $24,400 for married couples — until Oct. 15 to claim their stimulus funds this year.
“Given the extremely high demand for EIP assistance, we have continued to prioritize and increase resource allocations to eligible individuals, including those who may be waiting on some portion of their payment,” IRS Commissioner Chuck Rettig said in a Friday statement. “To help with this, we are allocating additional IRS resources to ensure eligible recipients receive their full payments during this challenging time.”
The IRS says it has already distributed more than 160 million stimulus payments, most of which have been directly deposited into taxpayers’ bank accounts. Lawmakers in Congress have proposed sending Americans a second round of $1,200 payments, but they’ve been held up over disagreements on other coronavirus relief measures.
