If you’ve got Social Security or SSI and didn’t get your third stimulus check, the wait is almost over. The IRS just announced that most payments for those receiving federal benefits who don’t need to file a tax return will be made on Wednesday April 7th.
The April 7 payment deadline is for those receiving Retirement and Social Security Disability Benefits, Safety Income, and the Railroad Retirement System. A payment date has not yet been announced for those receiving VA benefits.
Why are social security recipients still waiting?
When you file a tax return and receive benefits, chances are you’re among the 127 million Americans who have already received their $ 1,400 stimulus checks. But around 30 million recipients of social security and other benefits are still waiting for economic stimulus money.
This is because the IRS processes stimulus payments using tax returns for 2019 and 2020. But, just like the first two rounds of payments, the IRS did not require social security and other benefit recipients to tax returns unless they were otherwise required to do so. Instead, the IRS received the information it needed from the appropriate authority.
This time, the IRS was waiting for Social Security and other agencies to provide updated information and direct deposit addresses for recipients. On March 25, after the House Ways and Means Committee issued a 24-hour ultimatum, the Social Security Agency made the updated information available. The VA and Railroad Retirement System provided the information early last week.
For recipients of VA benefits, the IRS press release announcing payment dates states: “The IRS continues to review the data received for recipients of Veterans Affairs (VA) benefits and expects a payment date to be set and soon further details will be announced. Currently, the IRS estimates that economic impact payments for VA beneficiaries who do not file tax returns regularly could be paid by mid-April. “
Do I have to do anything to get my check?
Probably not. By the time you’ve received your first two checks, you will likely be in line to get this too. The only thing you can do now is wait.
One exception: if you have dependents, you may need to file a tax return as the IRS may not get dependent information directly from Social Security or any other agency. This time, you’ll earn $ 1,400 for every addict regardless of age. If you have dependent children, filing a tax return can also help ensure you receive a tax credit of $ 3,600 for children under 6 years old or $ 3,000 for children under 17 years of age.
You may not receive money for your loved one on your check. If you don’t get it with your check, the IRS will send you the extra money as soon as they process your return.
You can expect to receive your third Stimulus Check, but receive your federal benefits with either direct deposit or a Direct Express Debit Mastercard. If you’ve closed the bank account held by the IRS, your bank will refuse the deposit and you will receive your payment in the mail.
Can I still follow my stimulus check?
If you’re receiving federal benefits and haven’t filed a tax return yet, not yet. The IRS Get My Payment tool will be updated on the weekend of April 3-4 for beneficiaries who will be paid on April 7th.
The information is updated once a day. Avoid multiple logins as you may be locked out for 24 hours.
Robin Hartill is a certified financial planner and senior writer at The Penny Hoarder. She writes the Dear Penny personal finance advisory column. Send your tricky money questions to [email protected]