San Francisco Tax Preparation / CPA: VA Benefits Recipients Will Automatically Receive EIPs

Filed in CCH NEWS FEED by on July 10, 2020

The IRS has announced that recipients of benefits from the Department of Veterans Affairs (VA benefits) will automatically receive Economic Impact Payments (EIPs). Veterans and their beneficiaries who receive Compensation and Pension (C&P) benefit payments from VA will receive a $1,200 Economic Impact Payment with no further action needed on their part. Timing on the payments is still being determined.

“Since many VA recipients typically aren’t required to file tax returns, the IRS had to work with these other government agencies to determine a way to quickly and accurately deliver Economic Impact Payments to this group,” said IRS Commissioner Chuck Rettig. “Additional programming work remains, but this step simplifies the process for VA recipients to quickly and easily receive these $1,200 payments automatically. We deeply appreciate the sacrifices and service to our country by each and every veteran and their families, as well as the assistance of VA and the Bureau of Fiscal Services in this effort.”

For general information about EIPs, see the IRS webpage at https://www.irs.gov/coronavirus/economic-impact-payment-information-center.

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