The Covid Economy

Delayed $1,400 stimulus payments for some Social Security beneficiaries will be sent this weekend

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Social Security recipients and other Americans who do not normally file a tax return can expect their stimulus payments to be processed this weekend, the Treasury Department announced Tuesday. Many of the payments will be sent electronically and will be in bank accounts by April 7.

Though the Internal Revenue Service (IRS) began issuing the third stimulus payments in mid-March, deposits for an estimated 30 million people who receive Social Security, Supplemental Security Income and Railroad Retirement benefits have been delayed because the Social Security Administration (SSA) lagged in sending the IRS the information it needed.

The IRS received the information last week after a group of lawmakers pressured the SSA to send the necessary information.

"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 agency said in a statement.

Many people in this group will receive their payments electronically, through direct deposit or to their Direct Express card.

The IRS's Get My Payment tool will be updated once the payments are processed. That won't be until this weekend for those federal beneficiaries who will get a payment next week.

The agency also said it expects to send stimulus payments to Veterans Affairs (VA) beneficiaries by mid-April.

Don't miss: 30 million people may receive $1,400 stimulus checks after Social Security Administration provides payment information to IRS

Check out: Use this calculator to see exactly how much your third coronavirus stimulus check could be worth

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