There’s still time for millions of potentially eligible Americans to claim their federal stimulus checks — but they’ll need to mark their calendars to avoid waiting even longer.
The Internal Revenue Service recently posted a reminder about two key deadlines certain groups of taxpayers must meet to collect the money they’re owed under the CARES Act, the $2.2 trillion spending package Congress passed to blunt the economic impact of the coronavirus pandemic.
Anyone who misses either deadline will have to wait until next year to claim the so-called economic impact payment as a credit on their 2020 income tax return, officials say.
One of them is just two days away. People on certain federal benefit programs have until Wednesday, Sept. 30, to claim $500 checks for each of their children or other eligible dependents, the feds say.
These taxpayers receiving Social Security, Railroad Retirement, Supplemental Security Income and Veterans Affairs benefits already got their standard $1,200 individual payments but not the additional money for their kids. Anyone eligible to receive that extra cash has to submit information about their dependents through the IRS’s online form.
Another key deadline is around the corner for Americans who don’t normally file tax returns and have not received the regular $1,200 checks. They have until Oct. 15 to check their eligibility and submit their info to the IRS.
The IRS has said it is sending letters to about 9 million Americans, including more than 537,000 New Yorkers, who have not checked their eligibility for a stimulus check. These people aren’t required to file annual tax returns because they have very low incomes — typically less than $12,200 for individuals and $24,400 for married couples, officials said.
“These mailings are the latest step by the IRS to reach as many people as possible for these important payments,” IRS Commissioner Chuck Rettig said in a news release this month.