The last week of February is bringing two important payments for millions of Americans. Social Security recipients will receive their final payment of the month, while the IRS is also sending out special deposits to eligible taxpayers. If you’re wondering whether you qualify and how much you could get, here’s everything you need to know.
Social Security Payments: Who Gets Paid This Week?
The Social Security Administration (SSA) follows a set schedule for payments based on birth dates. If you receive Social Security benefits and were born between the 21st and 31st of any month, your payment is scheduled for Wednesday, February 26.
This payment reflects the 2025 Cost-of-Living Adjustment (COLA) increase of 2.5%, which has raised the average monthly benefit to $1,976. If you delayed retirement until age 70, your monthly check could be as high as $5,108.
If you don’t receive your payment on time, SSA advises waiting three business days before reaching out to them.
IRS Sending Out Extra Payments – Do You Qualify?
In addition to Social Security payments, the IRS is sending money to around one million taxpayers this week. This is part of the Recovery Rebate Credit, which provides payments to people who were eligible for COVID-19 stimulus checks but never claimed them on their 2021 tax returns.
If you’re eligible, you don’t have to do anything—these payments will be sent automatically. Each person could receive up to $1,400, depending on their situation. The IRS identified people who were owed this money and is making sure they receive it before tax season wraps up.
What To Do If Your Payment Is Delayed
If you were expecting one of these payments but haven’t received it by early March, here’s what you should do:
- Social Security: Ensure your banking details are up to date and wait three days past your expected deposit date before contacting SSA.
- IRS Payment: If you believe you qualify for the Recovery Rebate but haven’t received it, check your tax records or contact the IRS for more details.
Stay Updated
To make sure you never miss out on important payments, always check official sources:
- Social Security Administration: www.ssa.gov
- Internal Revenue Service: www.irs.gov
With two major payments arriving this week, it’s a good time to check your accounts and see if extra money is headed your way!
