If you receive VA disability pay, Social Security or SSI and you haven't received your third stimulus check, your wait is almost over. The IRS just announced that payments to those receiving VA disability could be made in mid-April, while most payments for people who receive other federal benefits and aren't required to file a tax return will be made Wednesday, April 7.
The April 7 payment date applies to those who get benefits from Social Security retirement and disability, Supplemental Security Income and the Railroad Retirement System. A payment date for those who get VA benefits hasn't yet been announced.
Why Are VA Disability and Social Security Recipients Still Waiting?
If you file a tax return and receive benefits, chances are good that you're among the 127 million Americans who have already gotten their $1,400 stimulus checks. But about 30 million recipients of Social Security and other benefits are still waiting on stimulus money.
That's because the IRS is processing stimulus payments using 2019 and 2020 tax returns. But just as with the first two rounds of payments, the IRS didn't require recipients of Social Security and other benefits to file a tax return if they weren't otherwise required to. Instead, the IRS got the information it needed from the appropriate agency.
This time around, the IRS was waiting on Social Security and other agencies to provide updated direct deposit information and addresses for recipients. On March 25, after the House Ways and Means Committee issued a 24-hour ultimatum, the Social Security Administration provided the updated information. The VA and Railroad Retirement System provided the information earlier last week.
For recipients of VA benefits, the IRS news release announcing payment dates says: "The IRS continues to review data received for Veterans Affairs (VA) benefit recipients and expects to determine a payment date and provide more details soon. Currently, the IRS estimates that Economic Impact Payments for VA beneficiaries who do not regularly file tax returns could be disbursed by mid-April."
Do I Have to Do Anything to Get My Check?
Probably not. If you received the first two checks, you're probably in line to get this one, too. The only thing you can do right now is wait.
One exception: If you have dependents, you may need to file a tax return, because the IRS may not get dependent information directly from Social Security or another agency. This time around, you'll get $1,400 for each dependent, regardless of their age. If you have dependent children, submitting a return could also help you get a child tax credit of $3,600 for children younger than 6 or $3,000 for children 17 and younger.
You may not receive money on behalf of your dependent with your check. If you don't get it with your check, the IRS will send you the extra money once it processes your return.
You can expect to receive your third stimulus check however you get your federal benefits, either through direct deposit or a Direct Express Debit Mastercard. If you've closed the bank account the IRS has on file, your bank will reject the deposit and you'll get your payment in the mail.
Can I Track My Stimulus Check Yet?
If you receive federal benefits and don't file a tax return, not yet. The IRS Get My Payment tool will be updated the weekend of April 3-4 for benefit recipients who are getting paid on April 7.
The information is updated once a day. Avoid multiple log-ins, as you may get locked out for 24 hours.
This article was originally published by The Penny Hoarder.
Related Topics: Military Headlines Personal Finance VA Disability Veteran Benefits Military Taxes© Copyright 2024 The Penny Hoarder. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
