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SS Recipients Must Give Banking Info to IRS for Electronic Stimulus Payment
The guidance on stimulus payments for Social Security beneficiaries has been a bit fluid over the last couple of weeks, leaving many with the impression that the IRS would be using their Social Security bank deposit information to provide the COVID-10 payment electronically. It turns out that now, although SSA 1099s will be used to determine eligibility for non-filers, the IRS is saying that in order to make an electronic stimulus payment they need you to separately provide them with your bank routing information to get an electronic payment. In other words, if you don’t provide them with your bank routing information, the stimulus payment for Social Security recipients will come in the form of a mailed check, not electronically, and that will probably take many weeks. This Forbes article by contributor Bart Astor explains.
Editor’s Note: Information about coronavirus stimulus payments seems to change almost daily. The latest information about the stimulus payments can always be found at www.irs.gov/coronavirus/economic-impact-payment-information-center.
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.
my state id is 99/999/9999 i am haveing problems putting my info for stimulus payment!
Shiela:
The economic impact payment process is administered by the IRS; unfortunately, we are not involved in the details of the process and are unable to respond to address whatever questions you may have about their processes. You may be able to obtain specific guidance from the IRS via their Economic Impact Payment Information Center
at https://www.irs.gov/coronavirus/economic-impact-payment-information-center.
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.