Stimulus Payments for Social Security Recipients to Start This Week
Good news from the Internal Revenue Service – stimulus payments will start flowing this week to those on Social Security who did not have current banking information on file with the IRS. The first wave of stimulus payments went to those who filed income taxes in either 2019 (or 2018) and included their banking information on their return. This week, the IRS will start sending stimulus payments to Social Security beneficiaries for whom the IRS has no current banking information on record, but will use the recipient’s Social Security data for the payment. This includes those who receive Social Security retirement or survivor benefits, disability benefits, or railroad retirement benefits, and the payment will come via whatever method the SS benefits are normally paid. This article by Kiplinger’s Tax Editor Rocky Mengle explains in more detail.
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