Headlines
NEW: Government clarifies SSI recipients WILL get stimulus payments automatically
First, some background: the main difference between Social Security Disability (SSDI) and Supplemental Security Income (SSI) is that SSDI is available to workers who have accumulated sufficient work credits, while SSI is strictly need-based, based on income and assets, and is…
Breaking News – IRS “Get My Payment Link” now active
The IRS site is now up and running as it pertains to the Stimulus bill. Check on the status of your Economic Impact Payment by clicking here.
What Social Security recipients (and others) can do to pass the time
While Social Security recipients may be viewed as luckier than others during this pandemic in that they haven’t lost a job or suffered any cuts in benefits, stay at home orders have nonetheless made many anxious. We at Social Security…
Most but not all Social Security recipients to get automatic stimulus deposits
Most recipients of Social Security benefits need do nothing to get a $1,200 stimulus payment directly deposited into their accounts, assuming they otherwise are within the income guidelines. Deposits began hitting accounts this past weekend. However, the following three groups…
Slowing Covid-19 will negatively impact the Social Security program
There’s no understating the problem. Social Security was already due to run a deficit in 2020 and to continue doing so until 2034-35. All reserves would be exhausted then and necessitate across the board cuts of 20-23% for all. With millions…
Easter Greetings from the AMAC Foundation
On behalf of the Social Security Report Editorial Staff, I’d like to wish all of our site visitors a peaceful and happy Easter Season. We all extend our wishes for continued goodwill in the weeks ahead, and for the safety…
IRS Releases Guidance for Non-Filers to Provide Information for Stimulus Payments
Information on the “web portal” promised by the IRS for individuals who have not filed tax returns in 2018 or 2019 was released late yesterday in an announcement from the U.S. Department of the Treasury and the Internal Revenue Service. “The ‘Non-Filers:…
The Ever-Changing Saga of the Economic Impact Payment Checks
Today is April 10, Good Friday, and there’s a new round of information on the airwaves about the much-anticipated release of the economic impact payments included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act President Trump signed into law March…
More on the Payroll Tax Issue and the CARES Act
The National Law Review’s David R. Fuller, in a post on their website, examines the payroll tax-related provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law March 27 by President Trump. In summary, the Act provides…
The Debate on Payroll Tax Elimination
President Trump, in a Coronavirus Task Force briefing yesterday, discussed his thoughts on cutting and/or eliminating the payroll tax withheld by employers, thereby generating immediate financial relief for workers. The 7.65% payroll tax (6.2% for Social Security and 1.45% for Medicare) represents…