The federal beneficiaries like the SSI & SSDI are among the most vulnerable groups, but most are yet to get their stimulus check. They also include veterans and retired railroad workers. The IRS has clarified this week that they will receive their payments in the first week of April.
The IRS has said that such groups should receive their stimulus payments by April 7 through electronic transfers and other methods. But if you belong to any of these groups, there are things that you ought to know about how and when you can receive your stimulus check.
The Treasury Department has let out that they have a deposit date if you receive regular federal benefits. You should be receiving your stimulus check by the end of this week if you are a veteran, and receive disability benefits and pension.
There is also good news for those federal beneficiaries under the SSDI & SSI programs. It has already been a long wait of nearly three weeks, even as around 130 million individuals and households have already received their stimulus check.
The stimulus checks that the IRS has sent out are mainly through direct deposit into bank accounts. More than 100 million people received their stimulus payments through their bank. These payments were made by the IRS based on the records they had of tax filers. Payments have also gone out through EIP debit cards and paper checks.
A Long And Tense Wait
But it has been a long and anxious wait for those receiving federal benefits. This holdup was due to the delay by the relevant departments in sending the files to the IRS for processing.
If you are under either the Veterans’ Affairs program or receive federal benefits under SSI & SSDI schemes, you should know the rules that let you know the date you should expect your check. You will also know if you have to file your returns if you claim for dependents. You also stand to gain if you receive unemployment benefits or have children.
Some Key Information
Veterans, people receiving Social Security benefits and other SSDI & SSI benefits, and retired rail workers will be eligible for the stimulus check. The payment will normally be sent through the DE card.
Those who have made use of the non-filer tool last year will receive their stimulus check directly unless there has been an alteration in their status. The payments could also come through check. The delay will be longer in such cases.
To claim for dependents for the third stimulus check, you will have to file a 2020 tax form. The government has promised to go in for outreach programs to update taxpayers on what they should expect as part of the stimulus payments.
If you miss out on any part of the payment under the $1.9 trillion rescues and relief package, you can claim the same in 2022 with your tax returns.
Do You Automatically Qualify If You Are A Veteran?
If you have received veteran benefits in 2020 you will qualify for the third stimulus check. You will not have to take further steps except wait for the check. But if you are a non-filer, you will need to file the tax return of 2020, the last date of which has been extended to May 17. The Veterans Affairs Department is in close coordination with the IRS for a speedy resolution of the case.
The maximum that you can receive is $1,400 for each individual. If you have dependents in your home, you will get $1,400 for every member. They may include college-going adult dependents and older people and dependents having certain disabilities.
How To Get The Stimulus Check?
If you receive Veteran Affairs benefits through your Direct Express card and do not need to file your tax returns, your stimulus check will also be added to the card. The IRS has informed that such beneficiaries have already received their stimulus payment by March 12. But if the IRS doesn’t have your details, it will have to rely on other agencies to pay you. This has been the main reason for the delay in your payment.
Around 5 million payments are set to go out through the EIP debit card. If you are a veteran without a bank account, the Veterans’ Affairs people will assist you to get your stimulus benefits by helping you get a bank account. But there is little time to now inform the authorities, as payments are already being processed.
Will Signing Up Now For The Direct Express Card Help?
You can sign up for the Direct Express account even now but that your third stimulus check will not come in through that method.
If you had an account and closed it, the check will likely get returned to the IRS. They will reissue it in the form of a paper check. If you have moved you need to inform both the IRS and the US postal service to receive your payment.
Rules On Qualifying Dependents
Dependents of all age groups are eligible to add to the total stimulus check a family will receive. Such checks are not paid to the dependents but are added to the family amount. You will also need to file a tax return for 2020 to receive your check. Dependents of all age groups qualify, including college-going students and the elderly and infirm dependents.
The stimulus check will not affect in any way the benefits that veterans receive from the government.
The Child Tax Credit is a part of the Rescue Plan. Families with children below 5 years will receive $3,600 for each child. For children aged between 6 and 17, the amount will be $3,000.
The federal unemployment benefits have been extended through September 6.
Can You Claim Previous Stimulus Checks?
Yes, you can still claim your stimulus payments given out in 2020. You can do so by filing your tax return for 2020 along with an RRC for any amount that is due to you as part of the first two stimulus checks.
You can also claim the stimulus payment for your dependent if you haven’t already received the same through catch-up payment. You will get it in the same way you received your stimulus checks last year.
How Much Should One Expect?
Individuals earning below $75,000 and families earning under $150,000 should automatically qualify for the $1,400 check per person. For the head of household, the cutoff amount is $112,500. The stimulus amount rapidly phases out when the corresponding incomes reach $80,000 for individuals, $120,000 for a head of household, and $160,000 for married couples who file jointly. If you have filed your returns for 2020, you should automatically get the stimulus check for every dependent in your household.
The stimulus check will come in the same way you receive your regular benefits. This is usually through paper checks as the IRS doesn’t deposit money into foreign accounts.