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[vc_row][vc_column][vc_column_text]American citizens who didn’t receive $500 stimulus checks for their children were recently given another chance to claim the money this fall instead of waiting until next year.
The Internal Revenue Service recently announced that 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 payments.
The larger time frame aims to assist people who missed earlier deadlines to claim the so-called economic impact payments provided under the CARES Act, the spending package Congress passed to offset the economic impact of the COVID-19 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 website. 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 IRS.
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.[/vc_column_text][us_image image=”1487″][/vc_column][/vc_row]
