Social Security benefits are paid by the Social Security Administration (“SSA”). These include Social Security Disability, widows’ and widowers’ benefits, Disabled Adult Child benefits, and retirement benefits. SSI benefits are paid by SSA to individuals who are at least 65 years old, blind, or disabled and who meet financial rules.
Under the CARES Act, eligible individuals will receive $1,200. Eligible married couples will receive $2,400. An additional $500 will be paid for each child who qualifies. For example, a family of 4 will receive $3,400. You will get the full payment if you filed a tax return for 2018 or 2019. If you are someone else’s dependent, you will not get a payment.
If you get Social Security, did not file a 2018 or 2019 tax return, and received the SSA-1099 form in January 2020, you will get the individual payment of $1,200 around the end of April. You will receive your payments the same way you normally receive your Social Security payments, whether by direct deposit, Direct Express debit card, or by paper check.
If you are a married couple or the parent(s) of a child, you will not get the full payment based only on the SSA-1099. If you are married and you don’t think the IRS has your spouse’s information, you can file a tax return to get these benefits. You should include your direct deposit information as electronic payments will be processed much faster than paper checks. If your spouse will not be filing a tax return, your spouse can file their information on the IRS’s website to receive a payment.
If you do not have a bank account, consider opening one for this payment. If you need the SSA-1099 form, you can check your account online at mySocialSecurity.
If you get Social Security benefits, have dependent children under 17 years old, and didn’t file taxes in 2018 or 2019, you had until April 22, 2020 to add your children to the non-filer tool on the IRS’s website. If you did not do that, you will have to wait until 2021 and file a tax return in order to get the payment for your children.
If you get SSI then you will get an automatic individual payment of $1,200 by early May. You will receive your payments the same way you normally receive your SSI payments, whether by direct deposit, Direct Express debit card, or by paper check.
If you get SSI benefits, have dependent children under 17 years old, and didn’t file taxes in 2018 or 2019, you should add your children to the non-filer tool on the IRS’s website by May 5, 2020. If you don’t provide your information by the deadline, you will have to wait until 2021 and file a tax return in order to get the payment for your children. You should include your direct deposit information when providing your children’s information in order to get your payment faster.
If you are married and you don’t think the IRS has your spouse’s information, you can file a tax return to get these benefits. You should include your direct deposit information as electronic payments will be processed much faster than paper checks. If your spouse will not be filing a tax return, your spouse can file their information on the IRS’s website to receive a payment.
If you started receiving Social Security and/or SSI benefits in 2020 and did not file tax returns for 2018 or 2019, you will need to submit your information on the IRS’s website to receive payments.
If you filed a tax return in 2018 or 2019 but the IRS does not have your direct deposit information, the IRS’s website allows you to submit your bank account information. If you are unsure as to how your payments will be received, the IRS’s website allows you to check and change how you will be paid. Again, electronic payments will be processed much faster than paper checks, so you should provide your bank information as soon as possible.
Even if you filed tax returns in 2018 or 2019, you should still verify on the IRS’s website that the IRS has your correct direct deposit information.
If you have a Direct Express Account, you cannot receive your and your children’s payment on your Direct Express account. You may select direct deposit or leave your bank information blank to receive a paper check.
It is very important to note that no payments will be sent after December 31, 2020. You should provide the Treasury Department with your information as soon as possible.
A person who earns more than $1,260 per month in income is generally considered not to be disabled and therefore not eligible for SSI or Social Security benefits. However, under federal law these payments cannot be considered income for Social Security recipients. SSA has stated that it will not consider the economic impact payments as income for SSI recipients. This payment is not income and it will not disqualify anyone from receiving Social Security or SSI.
People receiving Social Security benefits do not have limits on their resources. People receiving SSI do have resource limits. If you get SSI and are not married, you may not have more than $2,000 in non-exempt resources in any month. If you get SSI and are married, you may not have more than $3,000 in non-exempt resources in any month. “Non-exempt resources” include things like cash, bank accounts, a second vehicle, a residence that you do not live in, and life insurance. If you have resources worth more than this in any month, you will not get SSI that month.
SSA will not count the stimulus payments as a resource for 12 months. If you spend your stimulus payment within one year from the time you receive it, it will not affect your eligibility for SSI. If your child gets SSI, the same rules apply. Your child will continue receiving the same amount of SSI as long as you spend the payment within one year from the time you receive it.
If you got more Social Security or SSI than you should have, that is called an “overpayment.” If you currently get SSI or Social Security, SSA generally cannot take an overpayment out of your tax refund. If you used to get SSI or Social Security, but don’t anymore, SSA can take the overpayment out of your tax refund.
The CARES Act states that SSA may not use the stimulus payment to get back an overpayment from someone who used to get SSI or Social Security.
