10 Things Social Security Recipients Need to Know About Their Second Stimulus Check - Kiplinger & AMAC
Rocky Mengle of Kiplinger admits there are a few special rules that only apply to Social Security recipients, thus making it a bit more difficult for those folks to learn the ins and outs of second-round stimulus checks. This highly informative article lists ten important details those on Social Security would want to know about the second round of $600 payments. They are:
- The IRS is Working with the Social Security Administration
- You Can Track the Status of Your Stimulus Check
- There are Various Ways to Receive Your Second Stimulus Check
- You Might Not Get All Your Money Right Now if You Have Dependent Children
- You Won’t Receive a Second Stimulus Check If You’re Listed as a Dependent on Someone’s Tax Return
- Stimulus Checks Won’t Increase the Tax on Social Security Benefits
- Stimulus Checks Won’t Affect Eligibility for Government Benefits
- Second Stimulus Payments Will Be Sent to Representative Payees
- You Could Receive a Second Stimulus Check for a Deceased Spouse
- You Might Be Able to Invest Your Stimulus Check in an IRA
Perhaps most important is the “Get May Payment” portal that can be found at irs.gov/coronavirus/get-my-payment. The IRS urges patience using this link, as it is new and likely to be overwhelmed. Full article from Kiplinger is here.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.