These Social Security Beneficiaries Should File For Stimulus Checks

Apr 14, 2020 / Amanda Chase, Horsesmouth Assistant Editor

This week, the Treasury Department and IRS launched a web portal aimed at people who typically do not file tax returns, mostly because they have little to no taxable income. For most taxpayers, their payments will be based on their 2018 or 2019 tax returns. For Social Security recipients, the government plans to use their 1099 forms. But there are two groups of people who might want to use this portal: those with children under 17 and those who just started recieving Social Security benefits this year.

The new portal asks individuals to submit some basic financial information to confirm that they are eligible to receive the government payments. It also should help speed up getting the money to eligible individuals by taking their bank account information, including bank account type, account and routing numbers.

The Social Security Administration issued a press release informing beneficiaries that by taking proactive steps to enter information on the IRS website about them and their qualifying children, they will receive the $500 per dependent child in addition to their $1,200 individual payment. The same applies for recipients of Supplemental Social Security Income (SSI). Those who do not use this online tool will receive the correct payment amount, but it may take longer to arrive.

People who just started receiving either Social Security or SSI benefits in 2020, and who did not file tax returns for 2018 or 2019, should also use the web portal. However, it is worth stating again that Social Security retirement, survivors or disability beneficiaries who received a SSA-1099 for 2019 and do not have qualifying children under age 17 will not have to do anything in order to receive their stimulus check.

You can find the full article at CNBC.

 

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