The Department of Veterans Affairs has published limited guidance on its own website for veterans awaiting their 2009 stimulus checks.
This article covers $250 stimulus checks facts for those receiving payments under the Social Security Administration (SSA), Railroad Retirement Board (RRB), and Department of Veterans Affairs (VA) programs, with special information for veterans.
$250 Checks & Making Work Pay Tax Credit
The one-time $250 economic stimulus payment is intended for individuals who would otherwise not receive a Making Work Pay tax credit. Any Making Work Pay tax credit received may be reduced if the person also received a $250 recovery payment.
$250 Economic Stimulus Checks Facts for Veterans & Retirees
Interesting facts about $250 economic stimulus payments from the Department of the Treasury’s American Recovery and Reinvestment Act Program Plan (introduced in the article $250 Veterans Stimulus Checks from U.S. Govt) include the following:
- Individuals may only receive one $250 check. For example, people who receive veterans and railroad retirement benefits will only get one check even though they may qualify twice.
- Individuals must have been receiving benefits from the SSA, RRB, or VA sometime during the months of November 2008 through January 2009 to be eligible for a stimulus check. In other words, anyone who only began qualifying for veterans, Social Security, Supplemental Security Income, or railroad retirement benefits in February 2009 or later won’t get a $250 stimulus check.
- The Treasury expects to process approximately 80% of the payments electronically. This means that instead of receiving an actual paper check, most recipients will see the $250 credited to a bank account.
2009 Veterans & Retirees Stimulus Payment Schedule
Instead of looking to each separate agency for guidance on expected deadlines, individuals can visit the treasury.gov or recovery.gov for comprehensive information about all $250 economic stimulus checks. The Department of the Treasury has published a program plan that describes the timeline for disbursement of $250 stimulus checks. This timeline is discussed in the article $250 Veterans Stimulus Checks from the U.S. Govt (see link above).
Which U.S. Government Agency Will Mail Obama Stimulus Package Payments?
Perhaps a widely misunderstood aspect of the 2009 stimulus check program is that the Social Security Administration, Railroad Retirement Board, and Department of Veterans Affairs are not actually disbursing the economic stimulus payments. The Department of the Treasury’s Financial Management Service is actually disbursing the $250 payments.
More Questions About U.S. Federal Government Economic Recovery Payments?
A good source of answers to commonly asked questions about $250 stimulus checks is the Social Security Administration website. Although some of the questions answered are meant for those receiving benefits from the SSA, some of the answers apply to all recipients of $250 stimulus checks. Questions covered range from “Will I receive the one-time economic recovery payment?” to “Who decides whether I get a one-time economic recovery payment?”
Resources:
Social Security Administration website, socialsecurity.gov/payment
Department of Veterans Affairs website, va.gov/recovery
Department of the Treasury website, treasury.gov/recovery
Related articles:
$250 Stimulus Checks for Veterans & Retirees – Learn who will receive an economic recovery payment. Find an explanation of the difference between these one-time economic recovery payments and the second round of 2009 tax rebates that many people expected.
Are $250 Stimulus Checks Taxable? - Find out how $250 stimulus checks will reduce your Making Work Pay and Government Retiree Credits.
Lena Gott - Lena Gott is a Certified Public Accountant who gives practical financial advice to her readers.
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