VA Works with Treasury Department to Deliver Economic Impact Payments to Vets and Beneficiaries

Many Veterans have expressed concerns about the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Since the payment will be deposited based on tax information, Veterans who did not file annual income tax returns in 2018 or 2019 were worried they would not receive the ‘Economic Impact Payments’ the treasury department released.

According to VA secretary Robert Wilkie, “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.”

However, the VA recently announced that they are working directly with the Internal Revenue Service (IRS) and the Treasury Department to ensure Veterans and beneficiaries receive the payment without filing additional paperwork. Wilkie noted, “This collaboration will ensure our Veterans receive CARES Act payments without any additional action or paperwork required.”

How Will it Work?

Based on your tax status and other information, you could receive the payment in a different way.

VA beneficiaries without a dependent who did not file taxes – If you are a VA beneficiary and you did not file taxes, your payment will be deposited automatically.

VA beneficiaries who filed a Form 1040 – If you are a VA beneficiary and you filed your tax returns on Form 1040, your payment will be deposited automatically.

VA beneficiaries who didn’t file a tax return and have a dependent – If you are a VA beneficiary with a dependent and you didn’t file tax returns in 2018 or 2019, you may have to take an extra step to receive the correct payment. You will need to complete the “Non-Filer: Enter Payment Info” questionnaire on the IRS website to provide additional information and receive the funds you’re entitled to.

What if You Don’t Have Internet Access?

So, what if you are a VA beneficiary with a dependent and you do not have internet access to complete the IRS’ “EPI Payment Portal” questionnaire? According to the VA, your EIP payment will be processed without further action on your part.

When Will I Receive the Payment?

Many Veterans want to know why they haven’t received the payment and at what point they will in the future. Unfortunately, they have not set a date to have the payments finalized. However, they are working with the Treasury to issue the payments as soon as possible.

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