CLEVELAND — It's crunch time for several groups when it comes to the Economic Impact Payment.
The Internal Revenue Service (IRS) issued a special alert for several groups of federal benefit recipients to act by tomorrow, Wednesday, April 22, if they did not file a tax return in 2018 or 2019 and have dependents in order to quickly receive the full amount of their Economic Impact Payment.
The alert issued states that the $1,200 payments will be issued soon, and that the IRS needs dependent information before the $500 per eligible child amount can be added to these payments.
This is something to take seriously, County Executive Armond Budish said in a statement.
"It’s important that our residents, especially those with dependents, receive all of the money allotted to them from the IRS in the wake of the coronavirus—money they may qualify for and not even realize it,” Budish said.
"I encourage those not required to file a tax return to use this IRS tool to make sure they can get their maximum Economic Impact Payment.”
If this information is not received, the payment will remain at $1,200 and by law the additional $500 per eligible child will be paid in association with a return filing for tax year 2020.
Benefit recipients with children who are not required to file a tax return must go to the special non-filer tool on IRS.gov by noon Eastern time on Wednesday, April 22 to register to have the $500 per eligible child added automatically to their upcoming $1,200 Economic Impact Payment.
No action is needed for those receiving Social Security retirement, survivor or disability benefits (SSDI), Railroad Retirement benefits, Supplemental Security Income (SSI) and Veterans Affairs beneficiaries who didn’t file a tax return in the last two years. These groups will automatically receive their $1,200 payment.