Veterans among newest recipients of COVID-19 stimulus checks
The feds just doled out another 2 million stimulus checks — and a large chunk of them went to veterans.
The Internal Revenue Service’s fifth batch of coronavirus relief payments under the American Rescue Plan included more than 320,000 checks for people relying Department of Veterans Affairs benefits, officials said.
Those taxpayers are receiving compensation benefits or VA pensions available to veterans as well as their spouses or other relatives in some cases, according to the feds.
Like many Social Security recipients who had to wait for their stimulus checks, these VA beneficiaries do not usually file tax returns and didn’t submit their payment info to the IRS when previous payments were distributed last year, the tax agency said Wednesday.
The IRS had to review payment data it received from the VA to deliver money to the affected veterans, officials have said.
The VA beneficiaries’ checks were among more than $3.4 billion worth of “economic impact payments” that the IRS said it started processing last Friday and officially paid on Wednesday.
Nearly 850,000 payments in the latest batch went to people whose payment info the IRS did not have on record but recently filed a tax return, according to the feds. Another 72,000 went to the aforementioned Social Security beneficiaries who didn’t file income taxes in either of the last two years, officials said.
There were also more than 700,000 “plus-up” payments to taxpayers who received an initial check in March based on their 2019 tax returns but qualified for more money based on their recently processed 2020 returns, the IRS said.
The feds have now given out about 159 million stimulus payments worth more than $376 billion since President Biden signed the $1.9 trillion spending package authorizing the checks last month, officials said.
This week’s batch of payments included nearly 1.2 million direct deposits and close to 800,000 paper checks, according to the IRS.