The IRS is reminding Supplemental Security Income and Department of Veterans Affairs beneficiaries to act by Tuesday, May 5, if they did not file a tax return in 2018 or 2019 and have dependents so they can quickly receive the full amount of their Economic Impact Payment (EIP).
Because the $1,200 EIPs include an additional $500 per eligible child, the IRS needs the dependent information before it can issue the payments. Otherwise, the individual will receive the automatic $1,200 payment and can collect the additional $500 amount(s) in association with their return filing for tax year 2020.