The American Rescue Plan is underway. Stimulus checks of up to $1,400 are already being sent out as per reports by the US Treasury. However, there is a question regarding the status of Social Security beneficiaries with regards to the stimulus checks.
The IRS says this round of checks, codenamed “EIP3”, shall be given to social security beneficiaries regardless of their tax claim status. Akin to the previous rounds of payment, also called “EIP1” and “EIP2”, the checks will be extended to all governmental beneficiaries. As such, beneficiaries under Veteran Affairs, Supplemental Security Income, Railroad Retirement, and Survivor or Disability are all expected to receive the stimulus check.
Exact Details Of The Stimulus Checks
However, the exact date of payments has not been specified by the tax body. Also, social security beneficiaries will receive the amount the way they receive their usual benefits.
The IRS continues that those who did not receive the current amount through direct deposit but received the previous ones can expect a new EIP card or a check. The EIP card is a prepaid debit card. Existing EIP cards will not get an added amount.
The majority of the payment was done on March 18. However, there has been no particular date specified for the social security beneficiaries. The online tool “Get My Payment” from the IRS can help keep track of the status.
90 million stimulus checks have been reported as already sent out. The Department of Treasury says that it is worth more than $240 million. The majority of these were by direct deposit. An additional $442 million worth 150000 stimulus checks have also been sent out.
No additional actions are required to access the payments. The process is similar to the previous rounds held in 2020. The first round of payments was worth $1200 each. The next round had checks of about $600. The last round was dispatched in December.
