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Treasury clarifies payment plans for those on Social Security

No tax returns needed for $1,200 payments to those who don't normally file
Apr 06, 2020

The Department of the Treasury has announced that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an economic impact payment. The IRS will use the information on the Form SSA-1099 to generate $1,200 economic impact payments to Social Security beneficiaries who did not file tax returns in 2018 or 2019.

Treasury, not Social Security, will make automatic payments to Social Security beneficiaries. Beneficiaries will receive these payments by direct deposit or by paper check, just as they would normally receive their Social Security benefits.

Social Security Commissioner Andrew Saul said, “…The IRS will provide additional information at irs.gov/coronavirus when available. Please note that we will not consider economic impact payments as income for SSI recipients, and the payments are excluded from resources for 12 months. We will continue to update Social Security’s COVID-19 web page at socialsecurity.gov/coronavirus/ as further details become available.”

 

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