From the Treasury: Social Security Recipients Will Automatically Receive Economic Impact Payments
Initially there were questions about how (or if) Social Security recipients would receive an Economic Income Payment if they did not file a 2018 or 2019 tax return. The Treasury Department issued a press release answering that question. Following is the press release:
“The U.S. Department of the Treasury and the Internal Revenue Service today 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. Instead, payments will be automatically deposited into their bank accounts.
“Social Security recipients who are not typically required to file a tax return do not need to take an action, and will receive their payment directly to their bank account,” said Secretary Steven T. Mnuchin.
The IRS will use the information on the Form SSA-1099 and Form RRB-1099 to generate $1,200 Economic Impact Payments to Social Security recipients who did not file tax returns in 2018 or 2019. Recipients will receive these payments as a direct deposit or by paper check, just as they would normally receive their benefits.”
Please keep in mind that you will still need to meet the income guidelines to receive a payment
For more information on the Economic Impact Payments go HERE
To see the Treasury Press Release go HERE
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