For those receiving VA benefits, the third stimulus check can take place in a few days.
Sarah Tew / CNET
For those who receive federal benefits as part of SSI and SSDI social security programs, the IRS intends to start sending a third batch of stimulus payments this weekend. Not everyone who receives federal benefits should look for checks this weekend, although. If you are a Veterans Affairs disability or pension beneficiary, you may need to wait a few more weeks to get your third check up to $ 1,400. The IRS said it is reviewing the information for Veterans Affairs benefit recipients and expects to determine a payment date soon for veterans who I don’t normally report taxes.
The IRS has already made millions of payments by $ 1,400 each (calculate your total stimulus), sending money to bank accounts through direct deposit and in the mail like paper checks and EIP Cards. But as of this week, some 30 million people receiving federal benefits expected the agencies to send updated files with the IRS and process the next round of payments. (As track your stimulus check with the IRS.) Please note that not all payments can happen at once.
If you receive VA benefits, here’s what you need to know about your stimulus money, including if you qualify, when the money will arrive, when to look for your payment and if you need file a tax return in order of claim money for your dependents. Here are other ways the new economic stimulus project can help you, including whether do you have kids or receive unemployment benefits. This story has been updated with new information.
If I receive VA benefits, do I qualify for a stimulus check?
Yes. The IRS said that those who received veteran benefits in 2020 automatically qualify for a payment and will not need to take any further steps to receive their payment. The IRS said it is working with the Department of Veterans Affairs to make payments. Although, non-filters are being told they need to file a 2020 income tax return if they have dependents that the IRS does not know, for example, a new baby born in 2020 or 2021.
When will I receive my payment?
The IRS said it estimates that checks for VA beneficiaries who do not regularly file tax returns could come out in mid-April. Those receiving VA benefits will be able to see updates to their payment information on the IRS ‘ Receive my payment tool in the near future. We will provide an update when we hear more from the IRS or the Department of Veterans Affairs.
See this:
Stimulus check 3: how much money you will receive
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How much stimulus money could I receive?
As American Rescue Plan, That who qualifies for the third stimulus check can receive up to $ 1,400 each. Dependents – including older adult relatives, college-age children and dependents with certain disabilities – can count on an additional $ 1,400 each (below).
How will I receive my $ 1,400 stimulus check?
If you have not archived a tax return and you receive VA benefits on a Direct Express card, your third stimulus payment will be deposited on that card, the IRS said. The VA said if you have direct deposit configured with the IRS, you may have already received your payment on March 12, 2021. If the IRS does not have direct deposit information on file for you, it will use information from other government agencies to make the payment.
If you are a veteran and do not have a bank account, VA has a program to help you open a bank account to receive VA benefits. With stimulus payments coming out next week for VA beneficiaries, it may be too late to direct the check to a new account, however.
Those receiving VA benefits should seek a stimulus check soon.
Stephen Shankland / CNET
Who is a qualified dependent?
With the third check, any dependent you claim is eligible to count for $ 1,400 going to the family total. Dependents do not receive their own stimulus checks. (Here’s who the IRS considers a adult eligible for a stimulus check.) With the first two rounds of payments, those who received federal benefits had to take a step further to receive money from dependents, and you may also need to complete a 2020 tax form (free of charge) to claim your dependents for the verification of the third stimulus. That includes babies born in 2020.
Does stimulus payment decrease my VA benefits?
No. The VA said it will not count any money received as part of the the stimulus package as a recipe for determining benefits. For example, if your family of four receives $ 5,600 on a stimulus check, that amount is unrelated to your normal benefits.
What about the tax credit for children?
A source of money that you can see in the new American Rescue Plan is an expansion of the child’s tax credit. For a child age 5 and under, parents and guardians can receive up to $ 3,600 per child this year. For each child between 6 and 17 years old, parents and guardians can receive up to US $ 3,000. Here’s what we know about CTC, including more child qualification details and when payments could arrive.
And federal unemployment?
The new stimulus project also renews federal unemployment benefits. Weekly checks for $ 300 will run until 6 September. Here it is more information on unemployment checks.
Can I still get the first or second stimulus check?
Yes, according to the VA. You will need to file an income tax return this year and apply for a recovery discount credit on the tax form for any lost money that you were owed the first and second stimulus payments. See our guide to the first round of checks if you need more details. Here they are main differences between all three stimulus checks.
Here’s more about what we know about the third stimulus check for those who receives federal benefits, as track your stimulus check It is like make sure you have the right amount of money.