DES MOINES, Iowa – U.S. Rep. Cindy Axne, D-Iowa, announced on Wednesday that Iowans who receive Veterans’ benefits could expect Economic Impact Payments of up to $1,400 to hit their bank accounts beginning this week.
The latest round of payments applies specifically to veterans and their beneficiaries who receive Compensation and Pension (C&P) benefit payments and who don’t normally file a tax return.
Most payments will be automatically deposited into bank accounts or loaded onto the Direct Express cards where veterans receive their benefits. Those waiting on paper checks or debit cards through the mail should expect to receive their payments over the next several days.
“I’m pleased to see an additional tranche of direct payments begin to reach Iowans today – and I encourage all Iowa veterans who receive benefits and do not regularly file a tax return to check the IRS dashboard to see if they should expect one soon,” Axne said. “With more than 90 percent of Iowa adults expected to receive a payment from the American Rescue Plan, I will continue to pass along updates on when this money will be getting to Iowans who are still awaiting their payments.”
An estimate from the White House found that more than 2 million adults and 800,000 children in Iowa are eligible to receive payments of up to $1,400 per person through the American Rescue Plan that Rep. Axne helped pass in March 2021, which included changes she fought for to make adult dependents eligible.
In total, 91 percent of Iowa adults are expected to receive this round of Economic Impact Payments.
The American Rescue Plan included Economic Impact Payments of up to $1,400 per person. Individuals earning up to $75,000 annually, heads of household earning up to $112,500 annually, and couples earning up to $150,000 annually will receive the full $1,400 per person, for themselves and their dependents. After that, the checks begin to phase out, with payments stopping at individuals earning $80,000 in annual income, heads of household earning $120,000 in annual income and married couples earning $160,000 in annual income.
Iowans can go online to check the status of their payment using the “Get My Payment” tool.