Coronavirus / COVID-19 Stimulus / Economic Developments / Social Security

Social Security Recipients WILL Get Stimulus Checks

Social Security

April 2, 2020  UPDATE:

Treasury Reverses Stance on Stimulus Payments for Non-Filers

On the evening of Wednesday, April 1, the U.S. Treasury Department said Social Security beneficiaries who are not typically required to file tax returns will not need to file in order to receive their $1,200 stimulus payments. Instead, payments will be automatically deposited into their bank accounts. An earlier communication from the IRS said they would need to file some type of tax return in order to get the payments

March 31, 2020

It’s the ONE question nearly all Social Security recipients are asking: “Will I get a Coronavirus stimulus check? If yes, do I get one even if I haven’t filed a tax return in recent years?” The answers are YES and YES!

The “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) passed by Congress provides for substantial stabilization of America’s economy during the unprecedented medical crisis now sweeping the country.  The Act provides critically needed funding in key areas like expanded unemployment benefits and specific aid to many business segments facing extraordinary disruption, along with financial relief payments to most Americans, subject to income guidelines below.

Under the Act’s provisions, Americans having a valid Social Security number will receive direct cash assistance, specifically including those who receive welfare and/or Social Security benefits.  Relief payments will be $1,200 for individuals, $2,400 for couples, and $500 per child, for individuals with incomes at or below $75,000 ($112,500 for heads of household) and couples with income at or below $150,000.

The procedural details on how the approved payments will get into the hands of recipients are still being finalized, but these are the general elements:

  • According to Treasury Secretary Steven Mnuchin, most payments should be in the hands of recipients within three weeks
  • Eligibility for cash payments is based on income as reported in your most recent income tax return (note: adjusted gross income is the figure used)
  • If you did not file tax returns and are receiving Social Security payments, the IRS can use your Form SSA-1099 Social Security Benefit Statement or your Form RRB-1099 Social Security Equivalent Benefit Statement to send your check
  • If you have received a tax refund in the last two years by direct deposit, that’s where your money will be sent. If not, the IRS will mail a check to your “last known address”
  • The IRS will mail a notice confirming distribution of your payment, along with IRS contact information if you haven’t actually received the confirmed payment
  • You do not need to do anything in advance. For many recipients, the IRS has your banking information and will likely execute direct transfers to your account

AMAC’s sister organization, The AMAC Foundation, updates a site five days a week entitled The Social Security Report.  For the absolute latest daily information on this vital program, visit www.socialsecurityreport.org.  Many of this week’s headline and latest news posts on The Social Security Report deal specifically with The CARES Act (Stimulus Bill), and those seeking more detailed information will find it a valuable resource.

But to reiterate, YES, Social Security recipients are eligible and need do nothing at all to receive their $1,200 per person relief payments due them.  If you are required to file a tax form, it is likely that having done so already may speed up delivery of the payment.

Information for Non-Filers

Things are moving fast at the IRS, especially in the wake of the CARES Act signed into law last Friday. As the agency scrambles to put the mechanisms in place that will deliver the economic impact payments to Americans, new procedural announcements are hitting the airwaves at an accelerated pace.

In its most recent informational release on the impact payments, the rules for those who may not be on record with the agency to receive payments electronically have been clarified. As explained in IRS Bulletin IR-2020-61, “People who typically do not file a tax return will need to file a simple tax return to receive an economic impact payment.”

In other words, those with income levels that did not meet the threshold for filing tax returns in 2018 and/or 2019, those who filed without providing online banking information, and some veterans and some individuals with disabilities, will still need to register their banking information with the IRS in order to receive online payments.

If you happen to be in this category, don’t worry. The IRS has indicated they’ll be issuing directions on how to complete and file a simple return conveying their filing status, number of dependents, and direct deposit banking information to enable direct online payments. Also, they’ve indicated that they will soon deploy a “web-based portal” for people to submit the information needed for online payments.

Confirming previous news accounts, the IRS reports that the vast majority of payment recipients will not need to take any specific action. For these folks, the information in their 2019 income tax returns will be used. If a 2019 return has not yet been filed, they are urging folks to file as quickly as possible; otherwise, the data on their 2018 return will be used for payments.

AMAC will continue to stay abreast of this issue as instructions are released via the IRS.gov/Coronavirus website.

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John Karkalis
4 months ago

As is usually the case informed Amac members are replying to questions. I will not refuse the payment, even though I did nothing to earn it. I will be donating a portion to causes that I have been engaged with, something akin to tithing. Might I suggest a contribution to a local food bank. Our local food bank in Cleveland is swamped with requests for aid from individuals and families who never have thought they would need their help. Whether or not you feel that these desperate persons were imprudent in failure to plan for a crisis isn’t the point.… Read more »

Brenda Blunt
4 months ago

As long as only legal American citizens get this money.

Howard
4 months ago

Both my wife and I are receiving Social Security payments and I receive a monthly payment from my retirement fund, so we really don’t need it. However, we will be grateful for it and will find ways to benefit others with it.

Jack
4 months ago

As long as I get my Social Security check on time Im good. I can see people in the work force needing this with a lot of them living check to check. I’ve done it. Now I just hope I live until my next check.

Anthony Dellisola
4 months ago

I’m glad even social security recipients will get a check. Many of them have also lost other forms of income from stocks and dividends so they too can use this cash.

Steve
4 months ago

$1200. Isn’t this what Nancy calls “crumbs” ?

Cecilia Charmel
4 months ago

Awesome! Thanx for explaining it all.

Karen Roosati
4 months ago

I’m a single SS Recipient and had a small tax return for 2018. The stimulus will be gratefully appreciated. Good Bless Us All. I’m not afraid to say I’m afraid.

tessa d
4 months ago

wonderful to know – my brother has health issues and would be happy to hear this news. he definately would qualified

Ruth
4 months ago

Thank you for clarifying this issue about seniors receiving the stimulus checks.

Alma
4 months ago

Thank you AMAC for being Factual and Credible, and for Keeping us Updated with the truth, and for Covering the Good, the Bad, and the Ugly! The question about whether Social Security Recipients would be Eligible was definitely on this Senior’s mind…THANK YOU!

GAS
4 months ago

There are a lot of non-filers out there, and I’m not talking about those who don’t make enough to file. I’m talking about those who don’t file so they avoid paying taxes, and there are a lot of them. Sucks to be them. They won’t likely be participating in this!

Carol
4 months ago

I hope I will get a check. I do not get Social Security but I get a Pension from the place I worked. Yes, I have a valid Social Security Number.

Bruce
4 months ago

“Im on Medicare, get SS at 67. Do I qualify??” Yes. The only qualifications for receiving the stimulus payment is you must have filed a return for 2018 or 2019, even if you had no tax due to be paid. The other is that your adjusted gross income (AGI) is less than $75,000 (filing single) or $150,000 (married filing jointly). If you have dependent children (some grandparents have adopted grandchildren, for example) under age 17, you will receive another $500 for each dependent child. If you’ve filed a return in 2018 or 2019 and had your refund go directly into… Read more »

drnogerms
4 months ago

“Under the Act’s provisions, Americans having a valid Social Security number will receive direct cash assistance, specifically including those who receive welfare and Social Security benefits.” A very poorly worded sentence. As it is written, it sounds like only those who receive welfare AND social security benefits will get a check. Should it read “. . . receive welfare AND/OR social security benefits?” That would clarify it as either/or, not both. Anybody know which it is? I only draw social security benefits and VA disability payments – but no welfare. Never applied for welfare – never wanted welfare – never… Read more »

Edward Wooldridge
4 months ago

God helps those who helps themselves, and others. We will forward this money to less fortunate Thank you Mr. President!!

Stephen Russell
4 months ago

Im on Medicare, get SS at 67.
Do I qualify??

Alan
4 months ago

I guess I’m still missing something. First part of story: “But to reiterate, YES, Social Security recipients are eligible and need do nothing at all to receive their $1,200 per person relief payments due them.” Second part of story: “If a 2019 return has not yet been filed, they are urging folks to file as quickly as possible; otherwise, the data on their 2018 return will be used for payments.” Talked to H & R Block and they are encouraging SS recipients who did not need to file to go ahead and do so because as of this date, they… Read more »

Steph
4 months ago

I am on SS and I filed both years, but didn’t owe or pay any taxes. Will they use my deposit info from SS?

Sue
4 months ago

Interesting. Does anyone know if withdrawals from your 401k are considered income? I assume it is since we pay taxes on it.

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