In reversal, SS recipients to get stimulus checks without filing tax return
The ever-changing stimulus saga took another twist Wednesday night. A significant, and gratifying, twist for many collecting Social Security benefits.
The Trump administration announced that Social Security recipients WILL NOT have to file a tax return to get a stimulus check of $1,200. This was a reversal from guidance outlined Monday, stating that seniors had to file a federal return for tax year 2019, even if they weren’t required to file in previous years.
Treasury officials said the Internal Revenue Service will use existing SSA-1099 and RRB-1099 forms to make coronavirus relief payments to seniors. This change came amid pressure from seniors and three dozen Democratic senators.
Treasury Secretary Steven Mnuchin said in a statement Wednesday: “We want to ensure that our senior citizens, individuals with disabilities and low-income Americans receive Economic Impact Payments quickly and without undue burden. Social Security recipients who are not typically required to file a tax return need to take no action.”
Seniors who have a bank account on file will be paid by direct deposit; those who don’t will get a check in the mail.
The amount of each check is based on adjusted gross income. An individual earning less than $99,000, and couples under $198,000, are eligible for funds. An adult filing alone and earning up to $75,000 will get the full $1,200, as will an adult filing as “head of household” and making $112,500 or less. Married couples who earn $150,000 or less will receive $2,400. An additional $500 will be paid for every qualifying child age 16 or under.
Payment will decrease for single filers who earn between $75,000 and $99,000, and for couples making between $150,000 and $198,000.
Anyone claimed as a dependent by someone else is ineligible for a stimulus check.
Almost everyone must have a valid Social Security number to be eligible for stimulus funding. Military members are an exception.
President Donald Trump signed the $2 trillion coronavirus stimulus bill last week, to assist individuals and businesses adversely affected by the COVID-19 pandemic. It is known as the ”Coronavirus Aid, Relief, and. Economic Security Act” – or CARES Act.
Complicated language in the act raised confusion. Whether there will be other changes is the $2 trillion question.