As stimulus checks have already been sent out to many Americans, those who haven't yet received their check likely have some questions regarding the matter. One question in particular, for individuals who receive Social Security benefits, ties back to when exactly you can expect to see your payment. According to the Motley Fool, those who receive Supplemental Security Income (or SSI), will reportedly receive their payments either at the end of the month or sometime in May.
As outlined in the $2 trillion stimulus package that the White House and Congress agreed to in late March, eligible Americans will receive a check of $1,200 for individuals or $2,400 for couples who file a joint tax return. Additionally, individuals who claim children as dependents will receive $500 per child. As for when you will receive your check, if you have not already, you can rest assured that you will receive it in due course. The Motley Fool reported that those who have set up direct deposit information with the Internal Revenue Service (the IRS) will likely be the first ones to receive their payments. It should also be noted that if you receive Social Security benefits via direct deposit, your banking information should already be on file with the IRS.
The Motley Fool reported that if you get your Social Security benefits via direct deposit, you should see your money deposited into your account by the end of April. However, if you receive your benefits by mail, you may have to wait a bit longer. The publication noted that the IRS began sending out checks by mail on the week of April 20. They are reportedly sending out 5 million checks per week, meaning that it could take months for everyone in the country to receive their check by mail. The IRS is reportedly also sending out checks in a particular order, with lower-income individuals receiving theirs first.0comments
This report comes days after The Tennessean shed some light on when many Americans can expect to receive their payments. On April 20, the outlet reported that, as of that date, over half of those who are eligible had not yet received their stimulus checks. However, they also shared that many, including seniors and veterans, will receive theirs towards the end of the month or in the near future.
"Timing on the payments is still being determined," the IRS said in a statement on April 17. IRS Commissioner Chuck Rettig added, "Since many VA recipients typically aren't required to file tax returns, the IRS had to work with these other government agencies to determine a way to quickly and accurately deliver Economic Impact Payments to this group."