Coronavirus stimulus cash: IRS warns VA, SSI recipients about approaching deadline

5 coronavirus retirement fund tips

Creating an emergency fund and finding additional sources of income are key.

The IRS is reminding some government benefit recipients to submit their information online – or they will have to wait until next year to redeem the full economic impact payment for which they are eligible.

Called the “Plus $500 Push,” the IRS sent a note out to Supplemental Security Income and Veterans Affairs recipients Friday, prompting people with dependent children under the age of 17 who haven’t filed a 2018 or 2019 return to use the non-filers portal by Tuesday.

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The tax agency will be sending out payments to these groups soon, but if recipients do not enter their information before the deadline, they are at risk of not receiving the $500 for eligible dependent children.

And if that cash is not issued along with the check, the IRS said individuals will have to wait until they file a 2020 tax return in order to receive it.

"These groups will get $1,200 automatically, but they need to act quickly and use the Non-Filers tool on IRS.gov to get the extra $500 per child added to their payment,” IRS Commissioner Chuck Rettig said in a statement.

No action is required for those without dependent children.

These groups should expect to receive their payments by mid-May.