IRS sends 2 million stimulus checks to Social Security, VA beneficiaries
The IRS said a larger percentage of payments in this round were made electronically
The IRS on Wednesday announced it had sent out another 2 million economic impact payments under the American Rescue Plan, with a focus on Veterans Affairs and Social Security beneficiaries.
The checks, valued at more than $3.4 billion, were sent to several groups of individuals, including those who receive VA benefits but aren’t normally required to file tax returns and did not use the non-filers tool last year, the tax agency said. About 72,000 people who receive Social Security benefits and also did not file a tax return or use the non-filers tool will receive their payments.
Additionally, eligible people who recently filed a tax return for whom the IRS did not previously have information on file might expect to receive their checks in the outgoing batch.
TAX GAP IS LIKELY LARGER THAN ESTIMATED, IRS COMMISSIONER SAYS
Individuals who were eligible for larger payments than they received based on differences reported on their 2019 and 2020 tax returns may receive the supplemental cash as well.
The IRS said a larger percentage of payments in this round were made electronically when compared with previous rounds, meaning that recipients can expect to receive the money promptly.
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The payments began processing on Friday and have an official payment date of Wednesday.
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The additional 2 million checks bring the total disbursed under the $1.9 trillion American Rescue Plan to 159 million payments.
The agency said it will continue to issue checks on a weekly basis to eligible individuals who file tax returns to claim the cash, and to people who qualify for what it calls "plus-up" payments – referring to a larger check amount than what they received.