Treasury Reverses Stance on Stimulus Payments for Non-Filers
As might have been expected, the sweeping economic relief package enacted by the Government late last week has left many Americans with questions about how, and sometimes if, they will receive their “stimulus payment.” As originally announced, relief payments would be sent using banking data from 2019 income tax returns or, if 2019 not yet filed, from 2018 returns. According to the IRS, if bank data wasn’t already on file, stimulus checks would be mailed, or those in that category could quickly and easily file a simple 2019 tax return to accelerate receipt of their payment. Shortly thereafter, the IRS announced they would provide a special online portal for those who do not include bank account data on their tax returns, and for those who are not required to file income taxes, and that portal could be used to provide the IRS with bank account data for online stimulus payments.
Still faced with an avalanche of questions and objections for requiring tax filing by those who aren’t normally required to file, the Treasury Department last night (the evening of Wednesday, April 1st) announced still another move to smooth the distribution of economic relief payments to Americans. For those who receive Social Security benefits, including Social Security disability, and who aren’t required to file income taxes. the IRS will use their Social Security banking information – the account into which your Social Security payments are deposited. Thus, it is no longer necessary for Social Security beneficiaries to file a tax return to receive their stimulus payment. Instead, payments will be automatically deposited into their bank account.
Note that because of the size and scope of the coronavirus economic relief package (known as the CARES Act), and because of the sense of urgency to get economic relief into the hands of those who need it most, additional details from the U.S. Treasury Department are emerging almost daily. As new information becomes available, it will be posted here.
I’m on SSI when will we. SSI direct deposit people receive there check
John:
Our understanding is that anyone receiving direct deposit payments from Social Security is included in the first wave of checks…the wave being released now and over the next few weeks. I would continue to check the status portal: irs.gov/coronavirus/get-my-payment. This payment process is administered by the IRS; unfortunately, we are not involved in the details of their payment scheduling.
Gerry Hafer
AMAC Foundation, Inc.
CONFIDENTIALITY NOTICE: The opinions and interpretations expressed in this message are the viewpoints of the message’s author, a trained advisor accredited under the National Social Security Advisors program of the National Social Security Association, LLC (NSSA). The author, the NSSA, and the AMAC Foundation are not affiliated with or endorsed by the United States Government, the Social Security Administration, or any other state government.
Thank you
I still have not received my stimulus payment I’m wondering why I have direct deposit I’m very low in come but still nonthing?
John:
As mentioned in a previous message, this payment process is administered by the IRS; unfortunately, we are not involved in the details of their payment scheduling. You can check your payment status daily at this website: http://www.irs.gov/coronavirus-tax-relief-and-economic-impact-payments.
We certainly wish you well.
Gerry Hafer
AMAC Foundation, Inc.
CONFIDENTIALITY NOTICE: The opinions and interpretations expressed in this message are the viewpoints of the message’s author, a trained advisor accredited under the National Social Security Advisors program of the National Social Security Association, LLC (NSSA). The author, the NSSA, and the AMAC Foundation are not affiliated with or endorsed by the United States Government, the Social Security Administration, or any other state government.
I was in a state of more panic for I didn’t know what to do or even how exactly to properly fill out a tax return in order to get my stimulus payment. I was at a loss really thinking well it’ll be ok im just not getting it . I just keep telling myself stay calm it’ll be alright. Thank you for this information for it was of great importance for those like myself whom is already filling like we’re lost in this overwhelming ,unknown, and uncared about sea.