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Monday, May 17, 2021

The $1,400 Stimulus Check Should Finally Reach The Veterans

The latest round of the stimulus check is out and should benefit the veterans. Almost 159 million payments have already gone out counting the 2 million sent out in this batch. The recipients this time around will include the Veteran Affairs beneficiaries.

This is the fifth round of the stimulus check after the new American Rescue Plan bill was approved and finally signed by President Biden the second week of March 2021.

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The latest round will pay around $3.4B out of the $376B sent out in the five rounds.

The Veteran Affairs recipients received the $1,400 max stimulus check a bit later due to calculation issues. Veterans receiving Pension and other compensations do not usually need to file returns and also did not avail the non-filers tool the previous year. 

A total of around $450 million was paid out to around 320,000 veterans. The total number of stimulus checks issued to this group was around 72,000.

Other Beneficiaries In The Stimulus Check Fifth Round

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Other beneficiaries in the fifth round of payments were those who filed their returns for the first time to avail of the stimulus check. 850,000 of them received payments of around $1.6B.

More payments will go out to those who received additional or ‘plus up’ payments after filing their 2020 returns. This amount is around $1.2B.

Around 800,000 paper checks were sent through the US postal service along with the 1.2M direct deposits. These payments went in earlier for some than the official date of April 14,

The IRS has advised citizens to file their returns to make the process easier. People will get the correct amount through direct deposit as the IRS will have all the information they need for processing the stimulus check payments. An income of up to $72,000 entitles you to file your returns for free with the Free File program set up by the IRS.

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