Coronavirus stimulus cash: SSI recipients receive new guidance
Confusion has arisen for people who are not required to pay taxes each year
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With 80 million Americans expected to have received their economic impact payments as of Wednesday, the Treasury Department issued new guidance to Supplemental Security Income (SSI) recipients that will likely get them their cash quicker.
The Trump administration on Wednesday announced that SSI beneficiaries would be receiving their stimulus payments automatically – and many would not have to take any action with the IRS.
“SSI recipients with no qualifying children do not need to take any action in order to receive their $1,200 economic impact payment. The payments will be automatic,” Treasury Secretary Steven Mnuchin said in a statement.
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The payments will be sent via the same method that these individuals typically receive their benefits and should be received no later than early May.
However, SSI recipients with dependent children should still use the non-filer portal on IRS.gov in order to provide information to receive the money for their dependents.
It was previously announced that Social Security recipients would get their payments automatically.
Confusion arises because some people are not required to pay taxes each year – and the IRS has said it will look at adjusted gross income listed on federal tax returns in order to determine which individuals and couples should be awarded a benefit.
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The payments will be $1,200 per adult for those with adjusted gross incomes of up to $75,000. The threshold for married couples is $150,000 – they are eligible for $2,400 and $500 per child.
For those who normally receive paper checks, the IRS unveiled a web page on Wednesday that allows them to upload their direct deposit account information in order to receive their cash electronically.
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The relief is intended to hold Americans over until the U.S. economy is up and running again – the federal government and state governments have made the decision to shut down many businesses in an attempt to limit human-to-human contact. As a result, many people have either found themselves without a job or with reduced hours.
For more information on the payments, click here.
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