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JamesMusslewhite

VA Partners with Treasury Department to Deliver Economic Impact Payments to Veterans and Survivors

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JamesMusslewhite
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VA » Office of Public and Intergovernmental Affairs » News Releases

Office of Public and Intergovernmental Affairs

 

VA Partners with Treasury Department to Deliver Economic Impact Payments to Veterans and Survivors

April 17, 2020, 05:08:00 PM

WASHINGTON — The U.S. Department of Veterans Affairs (VA) announced today it is working directly with the Internal Revenue Service (IRS) and U.S. Treasury Department to ensure delivery of ‘Economic Impact Payments’ to Veterans and survivors who receive Compensation and Pension (C&P) benefit payments from VA without additional paperwork or IRS filings.

 The ‘Economic Impact Payments,’ authorized by the Treasury Department under the 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act, will be issued automatically to recipients of non-taxable VA benefits who did not file annual income tax returns for 2018 or 2019. VA and the IRS have been collaborating since the passage of the CARES Act to ensure Veterans receive their EIP.

 “Many have expressed concern that Veterans and their beneficiaries would be overlooked during the distribution of Economic Impact Payments from the CARES Act simply because they don’t file an annual tax return,” said VA Secretary Robert Wilkie. “This collaboration will ensure our Veterans receive CARES Act payments without any additional action or paperwork required.”

 Economic Impact Payments will be automatic for non-tax filing VA beneficiaries. For VA beneficiaries who filed a Form 1040 for 2018 or 2019, those payments will also be automatic. No further action is needed. They can track the status of their payments on the Get My Payment tool on IRS.gov. For non-tax filing VA beneficiaries, please note their information will be loaded on this tool within the next few weeks.

 For VA beneficiaries who didn’t file a tax return in 2018 or 2019 and have a dependent, there is a special step they need to take, and the sooner the better. They should visit the Non-Filer: Enter Payment Info Here tool on IRS.gov. By quickly taking steps to enter information on the IRS website about them and their qualifying children, they can receive the $500 per dependent child payment in addition to their $1,200 individual payment. 

VA recognizes that many non-tax filing beneficiaries have already begun using the IRS’ EIP payment portal to provide the necessary data to IRS to receive their EIP. There will be no interruption to payments being processed using the IRS portal, and Veterans with internet access are encouraged to continue providing information and track their EIP through the IRS portal. 

For those who do not have access, or choose not to use the IRS portal, their EIP will be processed without further action on their part.

 While no date for distribution has been set at this time, VA is securely sharing necessary beneficiary data with Treasury which will allow Treasury to begin issuance of Economic Impact Payments.

 For more information on CARES Act ‘Economic Impact Payments,’ visit: https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know..

 

People wishing to receive e-mail from VA with the latest news releases and updated fact sheets can subscribe to the VA Office of Public Affairs Distribution List.

 

Edited by JamesMusslewhite

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JamesMusslewhite
Posted (edited)

The above post is from my Yahoo email account, posted on the side panel of Yahoo mail this afternoon. It is current and verified, and should be of interest and useful to clarify the current situation concerning the delivery of the Economic Impact Payments to Veterans and Survivors. I now it has been confusing to some, including myself. It does not say exactly when the payments will be send, but does suggest those with dependents and those with other concerns will find it much easier through this collaboration. I know it should certainly make my life easier...

Edited by JamesMusslewhite

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Salty Dog
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Some Veterans Need to Fill Out This Form ASAP to Get Their Stimulus Payment

check_cash_tax_stimulus_treasury_18.jpeg.jpg

22 Apr 2020
Military.com | By Jim Absher

If you receive Department of Veterans Affairs disability or pension payments and didn't file taxes for the last two years, you may want to hurry over to the IRS website and fill out a form to get your stimulus payment.

You are not required to file a tax return if your taxable income is below $12,200 ($24,400 for married couples). This includes people whose only income was non-taxable income, such as VA disability compensation, dependency and indemnity compensation (DIC) or VA pension benefits.

Originally, veterans were told they needed to file a tax return in order to receive their stimulus funds. However several changes have been made to the process, with the most recent being announced Wednesday.

Veterans with income below the taxable threshold will now automatically have their $1,200 stimulus payments deposited into the same bank account as their VA benefits. Those veterans affected by the low-income threshold who have dependents must use the IRS website to provide their personal information and payment instructions before any payments will be made for those dependents.

The IRS originally set 12:00 EDT April 22, 2020, as the deadline to provide the necessary information for stimulus funds. That deadline has been removed but, given the rapidly changing situation, it's best to fill out the form as quickly as possible, even if you're unsure as to your eligibility for funds.


To receive stimulus payments for your eligible dependents, you will need to provide the following information to the IRS:

  • Full name, current mailing address and an email address
  • Date of birth and valid Social Security number
  • Bank account number, type and routing number, if you have one
  • Identity Protection Personal Identification Number (IP PIN) you received from the IRS earlier this year, if you have one
  • Driver's license or state-issued ID, if you have one
  • For each qualifying child: name, Social Security number or Adoption Taxpayer Identification Number and their relationship to you or your spouse

https://www.military.com/daily-news/2020/04/22/some-veterans-need-fill-out-form-asap-get-their-stimulus-payment.html

 

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