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The Stimulus and Retirees Who Do Not File Taxes

The Stimulus and Retirees Who Do Not File Taxes

April 02, 2020

Retired - Don't have to file income taxes?

All Social Security Payees Automatically Receive Stimulus

If you receive Social Security and are not required to file a tax return you may be concerned about receiving your stimulus payment. According to an IRS press release dated April 1st, 2020; Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an Economic Impact Payment. Instead, payments will be automatically deposited into their bank accounts.

“Social Security recipients who are not typically required to file a tax return do not need to take an action, and will receive their payment directly to their bank account,” said Secretary Steven T. Mnuchin.

The IRS will use the information on the Form SSA-1099 and Form RRB-1099 to generate $1,200 Economic Impact Payments to Social Security recipients who did not file tax returns in 2018 or 2019. Recipients will receive these payments as a direct deposit or by paper check, just as they would normally receive their benefits.

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1., April 1, 2020
2. US, April 1, 2020