The IRS also noted that the third round mailing follows the pattern of the first and second rounds.
Most beneficiaries of government programs such as those under the Social Security Administration will receive the third $1,400 stimulus check automatically without additional paperwork, the Internal Revenue Service (IRS) reported.
“The IRS will automatically send the EIP3 (Third Economic Impact Payment) to individuals who did not file a return, but who receive Social Security retirement, survivor or disability benefits (SSDI), railroad retirement benefits, supplemental security income (SSI) or Veterans Affairs benefits,” the IRS said in a statement on its website.
The agency also noted that the remittance of payments follows the first and second round guidelines.
That is, if you are a beneficiary of either of these programs, you will most likely receive the third payment in the same way you received the previous two.
“For those who received the First Economic Impact Payment (EIP1) or the Second Economic Impact Payment (EIP2), but do not receive a direct deposit payment, you will generally receive a check or, in some cases, a prepaid debit card (called an “EIP Card”),” the agency said.
To collect information from Americans who receive federal program funds, the IRS and Treasury in many cases rely on information from other government agencies already on file and used to process regular payments to beneficiaries of these programs.
In some instances, the money may be deposited to the Direct Express card on which they receive their monthly benefits. Neither the IRS nor the Treasury has specified under what circumstances individuals will receive stimulus money in this manner.
However, the third round of Economic Impact Payments will be based primarily on the taxpayer’s last processed 2020 tax return or 2019 tax return if the individual is a filer. If the IRS has received and processed a taxpayer’s 2020 tax return, the agency will instead make the calculation based on that information. The IRS will also use the agency’s “Non-Filers” data from last year, and simplified tax returns to establish amount and form of payment.
On Wednesday, officials released direct deposits for the first phase of distribution of the third $1,400 stimulus check in accordance with the Nacha Rules, the group charged with managing the ACH network or payment system for direct deposits and direct payments to accounts at U.S. banks and credit unions.
Distribution of the remainder of the payments will continue over the next few days. The Biden Administration is targeting to send most of the third round stimulus payments this month.