Seniors will receive automatic COVID-19 stimulus payments

Andrew Cummings
April 3, 2020

Recipients will receive these payments as a direct deposit or by paper check, just as they would normally receive their benefits.

Anyone earning up to $75,000 in adjusted gross income and who has a Social Security number will receive a $1,200 payment.

The IRS will calculate and automatically send payment to those eligible, meaning, "The vast majority of people do not need to take any action".

The IRS recommended to go to the website for information, instead of calling IRS assistors, because they are helping process 2019 tax returns, and many offices have reduced staff.

GettyThe coronavirus pandemic has led to the government stimulus package.

Treasury Secretary Steven Mnuchin said at a White House briefing Thursday he hopes this will let more people get their money "within a couple of days" of submitting their information.

Those who have not yet filed will have their payment calculated based on their 2018 tax filing. Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible. Seniors who rely on Social Security for their sole source of income don't have to file tax returns.

The IRS and Treasury have updated their guidance on how to ensure you get paid.

The remaining groups, low-income individuals, some veterans, and people with disabilities, will still have to file a shortened tax return if they don't receive Social Security.

According to the CNN report, a memo from the House Ways and Means Committee says that by April 13th, the IRS will make about 60 million payments for taxpayers who provided their direct deposit information through their 2018 or 2019 tax returns.

With confusion circulating around who is qualified to receive payments from the historic $2.2 trillion COVID-19 rescue bill, the U.S. Treasury Department has assured Social Security recipients that they will not have to file a tax return in order to receive a stimulus check.

Yes, but the IRS encourages anyone who is required to file a tax return and has not yet done so during those years to file as soon as possible to receive a financial impact payment.

Last week, President Donald Trump signed a coronavirus relief bill into law, creating a program of direct payments of up to $1,200 per qualifying adult and $500 per qualifying child.

The Treasury Department said that Social Security recipients won't have to file a tax return to get their stimulus payment.

The money will be directly deposited in your bank account if the government has that information from your tax return. Economic impact payments will be available for the rest of 2020.

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