Welcome back to another #TrashItThursday and here is to hoping that you are all staying healthy, social distancing and maintaining your sanity.
I have to devote today’s blog post to individuals who collect social security and who are not required to file annual tax returns. I have been asked many times if they will receive stimulus checks. First of all, yes, you will receive the stimulus check. Secondly, if you do not have a direct deposit account set up with social security, they will mail the check to the address on your social security annual 1099. Here is the official statement:
Social Security Recipients Will Automatically Receive Economic Impact Payments
April 1, 2020
WASHINGTON – 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.
I hope this information was helpful
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