Veterans Affairs recipients will receive Economic Impact Payments
The Internal Revenue Service, working in partnership with the Treasury Department and the Department of Veterans Affairs, announced on Friday, that recipients of VA benefits will automatically receive automatic Economic Impact Payments.
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.
Moving VA recipients into the automatic payment category follows weeks of extensive cooperative work between VA, Treasury, IRS as well as the Bureau of Fiscal Services.
“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. You are deeply appreciated for 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.”