Social security recipients and other federal beneficiaries who do not normally file a tax return can expect to see a direct payment from the IRS and the Treasury Department this weekend.
According to the U.S. Department of Treasury's website, the announcement was made Tuesday that they anticipate payments to be sent electronically and received on April 7.
"After receiving data from the Social Security Administration on Thursday, March 25, the IRS began the multi-step process to review, validate, and test tens of millions of records to ensure eligibility and proper calculation of Economic Impact Payments. If no additional issues arise, the IRS currently expects to complete that work and to begin processing these payment files at the end of this week," the department wrote on its website.
So who exactly qualifies under this?
The Treasury Department's website states that Tuesday's announcement applies to Social Security, Supplementary Security Income (SSI) and Retirement Board Beneficiaries who did not file a tax return in 2019 or 2020 or those who did not use the non-filers tool.
What about those who do not have a bank account on file?
If you're a beneficiary who does not have a bank account on file, the IRS is still unclear about how you will receive your money, whether it'll be a paper check or debit card.
The Treasury Department also wrote the IRS is still reviewing data received for Veterans Affairs recipients and expects to determine a payment date and more details soon.
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