Veterans and their beneficiaries can expect to see a COVID-19 stimulus payment in their bank accounts by the middle of next week, the Internal Revenue Service announced Wednesday.
According to an IRS news release, the agency expects to begin processing Department of Veterans Affairs payment files at the end of this week.
“Because the majority of these payments will be disbursed electronically, they would be received on the official payment date of April 14. The IRS projects VA beneficiary payment information would be available in the Get My Payment tool this weekend, April 10-11,” the news release said.
The payments will be aimed at veterans and their beneficiaries who receive Compensation and Pension (C&P) benefit payments and who don’t normally file a tax return.
The direct payments from the American Rescue Plan have been sent out in batches, the first going out on March 17, nearly a week after the legislation was signed by President Joe Biden on March 11.
Millions who receive Social Security, Supplemental Security Income, Railroad Retirement Board or Veterans Affairs benefits had not seen their checks as of this week because the IRS did not have files from those agencies that would allow it to process payments.
On Wednesday, $26 billion in payments went to more than 19 million Social Security beneficiaries, $5 billion in payments went to Supplemental Security Income beneficiaries and $119 million went to around 85,000 Railroad Retirement Board beneficiaries, according to the IRS.
The agency has deposited $372 billion in stimulus payments since the first batch of checks were sent out on March 17. So far, more than 156 million Americans have seen the $1,400 direct payments.
The payments went to millions of individuals making up to $75,000 in adjusted gross income, and couples filing jointly making up to $150,000.
The payments distributed on Wednesday included 1 million “plus-up” payments, or additional ongoing supplemental payments for people who earlier in March received stimulus checks based on their 2019 tax returns but who are eligible for a new or larger payment based on their recently processed 2020 tax returns.
Cox Media Group
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