Coronavirus and Your Money

Social Security Recipients, Veterans Must Act Now to Get Extra $500 Stimulus Check

The deadline for seniors and veterans to request an additional $500 stimulus check for a dependent child is almost here. Here's how you can claim your payment.

Seniors and veterans otherwise eligible for a stimulus check who receive Social Security retirement benefits, Supplemental Security Income (SSI), Railroad Retirement (RR) benefits, or Veterans Affairs (VA) compensation and pension benefits have until 3:00 p.m. Eastern on November 21, 2020, to claim an additional $500-per-child payment if they didn't already receive the amount as part of their original stimulus check. That's this Saturday!

Americans who receive these federal benefits, but didn't file a 2018 or 2019 tax return, should have automatically received a $1,200 stimulus payment earlier this year. However, if they have (or care for) dependent children 16 years old or younger, they were instructed to go online and use the IRS's "Non-Filers: Enter Your Payment Info Here" tool to get the extra $500 per child that's allowed under the CARES Act.

The catch was that they originally had to use the tool by a certain time and with little notice. People receiving Social Security, SSI, or RR benefits initially had until noon Eastern time on April 22 to have the additional amount included in their stimulus check payment – and the IRS gave them less than 48 hours' notice of the deadline! Veterans receiving VA benefits had until May 5 to use the IRS's online tool. Unfortunately, many seniors and veterans with dependent children didn't act in time and didn't get the extra $500.

The Revised Deadline

Fortunately, the IRS reopened the registration period for Social Security, SSI, RR, and VA beneficiaries who didn't receive the additional $500 payment for a dependent child. They now have until 3:00 p.m. Eastern on November 21 to use the Non-Filers tool to provide information about their child. If you miss the November 21 deadline, you'll need to wait until next year and claim the $500 as a credit on your 2020 federal income tax return.

If you received your original $1,200 payment by direct deposit, the additional payment for your dependent children will also be directly deposited to the same account. Otherwise, you'll receive a paper check in the mail.

If you already used the Non-Filers tool to provide information on your children, no further action is needed – the IRS will automatically send a payment to you.

Most Popular

The 15 Best Stocks for the Rest of 2022
stocks to buy

The 15 Best Stocks for the Rest of 2022

The lesson of the past two years: Be ready for anything. Our 15 best stocks to buy for the rest of 2022 reflect several possible outcomes for the seco…
June 21, 2022
Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
Retirement Comfort: How to Avoid Running Out of Money
retirement planning

Retirement Comfort: How to Avoid Running Out of Money

When it comes to retirement planning, one thing all of us worry about is whether we will have enough money to last. Financial professionals can help y…
June 25, 2022

Recommended

Taxes on Unemployment Benefits: A State-by-State Guide
state tax

Taxes on Unemployment Benefits: A State-by-State Guide

Don't be surprised by an unexpected state tax bill on your unemployment benefits. Know where unemployment compensation is taxable and where it isn't.
June 23, 2022
33 States with No Estate Taxes or Inheritance Taxes
retirement

33 States with No Estate Taxes or Inheritance Taxes

Even with the federal exemption from death taxes raised, retirees should pay more attention to estate taxes and inheritance taxes levied by states.
June 23, 2022
10 Most Tax-Friendly States for Retirees
retirement

10 Most Tax-Friendly States for Retirees

Moving to a low-tax state in retirement can help make your retirement savings last longer.
June 23, 2022
Taxes in Retirement: How All 50 States Tax Retirees
Tax Breaks

Taxes in Retirement: How All 50 States Tax Retirees

We rated every state, plus the District of Columbia, on how retirees are taxed. Some of the results might surprise you.
June 23, 2022