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Economic Impact Payments - Who Doesn’t Qualify
The economic impact payments signed into law on March 27 as a key part of the “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act” are scheduled to begin arriving in Americans’ hands soon, but some folks will not qualify. In a post on www.wthr.com, editors note that the Tax Policy Center estimates nine in 10 households would get at least some payment from the stimulus check plan. So, who doesn’t qualify? The wthr.com post lists seven separate groupings who will not meet the requirements for a check in 2020. Read the post 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.
I have the direct express card from social security. Will the stimulus check be put on the card
Tammy:
The most recent statements we’ve seen indicate that the stimulus payments will be deposited the same way as your social security benefits are deposited. From that, and absent a definitive statement from IRS or SSA, we would conclude that yes, your payment will be added to your Direct Express card. Watch this website for any specific announcements regarding the use of Direct Express for delivery of stimulus payments.
Gerry Hafer
AMAC Foundaton, Inc.
I can not remember the last time I got a refund from the IRS. I do have my social security check directly deposited. Does this mean that the stimulus check I will receive will be directly deposited, without any further action from me?
Nancy:
Yes. The IRS will use your direct deposit information as established for your Social Security payments to generate your economic impact (stimulus) payment.
Thanks for contacting us.
Gerry Hafer
AMAC Foundation, Inc.