Millions of beneficiaries of government programs will receive their third stimulus check next week through direct deposits and Direct Express card transfers.
Next Wednesday, April 7, is a key date for beneficiaries of government programs such as the Social Security Administration as many of these individuals are expected to receive their third $1,400 stimulus check, the Internal Revenue Service (IRS) announced.
The agency said in a statement that it will begin processing millions of stimulus payments this weekend under the “American Recovery Plan” passed in the U.S. Congress last month.
However, the payments would begin to arrive next week.
In the case of direct deposits and transfers to the Direct Express card, where benefits regularly receive federal funds, payments would be released on April 7.
A House committee estimated the figure at 30 million beneficiaries.
“As work continues to issue millions of Economic Impact Payments to Americans, the Internal Revenue Service and the Treasury Department announced today that they anticipate payments will begin to be issued this weekend to Social Security and other federal beneficiaries who do not normally file a tax return, with the projection that most of these payments would be sent electronically and received by April 7,” the statement on the IRS.gov website said Tuesday.
The processing of most of the back payments is possible after the Social Security Administration provided the IRS with data on its beneficiaries, many of whom do not file taxes.
“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 problems arise, the IRS currently expects to complete that work and begin processing these payments by the end of this week. Because most of these payments will be issued electronically, through direct deposit and payments to existing Direct Express cards, they would be received by the official payment date of April 7,” the agency insisted.
Those who do not receive payments electronically this week will most likely receive the paper check or EIP Card through the mail.
As part of the distribution process for the third $1,400 stimulus check, the IRS divided the installment into batches. Most of the payments in each wave were made by direct deposit on Wednesdays, April 17 and 24. Simultaneously, the agency mailed paper checks and prepaid debit cards (EIP Cards) with the stimulus checks.
Last week, the agency was credited with mailing 127 million stimulus checks in a two-week period through all three channels.
Those figures do not include those that will be processed over the weekend to reach their destinations next week.