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Will Social Security Recipients Receive A Stimulus Check This Month
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June 26, 2024 1:34 pm
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9 min read
Will Social Security Recipients Receive A Stimulus Check This Month – That’s the question everyone is asking… when will Social Security recipients get their third stimulus check? The IRS has finally given a deadline.
WASHINGTON – The Internal Revenue Service and Treasury Department announced Tuesday that stimulus checks for Social Security recipients and other federal beneficiaries will be issued later this week.
Will Social Security Recipients Receive A Stimulus Check This Month
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While those payments will be distributed in the coming days, the agency said most checks will be sent electronically and will be received by Wednesday, April 7.
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Since the U.S. Savings Plan was signed into law, stimulus checks have gone out to at least 127 million Americans; However, many recipients of federal benefits who do not normally file tax returns are not initially given a specific time frame for when they will receive their money.
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Last Thursday, the IRS obtained information on Social Security Administration beneficiaries after it authorized the agency to begin the process of verifying eligibility for what it said were millions of records. The agency is already tired of tax filing delays that have seen tax filing deadlines pushed back several times already this tax season.
Although Tuesday’s announcement did not specify the number of people who will now receive stimulus checks, lawmakers said last Thursday that pending cases from the SSA are holding up stimulus payments to nearly 30 million Americans.
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The IRS noted on Tuesday that recipients of federal benefits who file tax returns already began receiving economic impact payments earlier this month, along with other taxpayers.
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“Our teams immediately began processing the information we received last week about federal benefit recipients. We know how important these payments are, and we are doing everything we can to get these payments to those important people as quickly as possible,” he said. said Rettig.
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The IRS said it hopes to complete payment files for this category of receivership receivers by the end of this week, so the agency can meet the April 7 deadline for payment.
The IRS said Tuesday that it is still working out when recipients of Veterans Affairs benefits will receive their stimulus payments, and the agency said it will announce soon. The current estimate for VA beneficiaries who do not file taxes is that they could see their stimulus payments arrive in mid-April, according to the IRS.
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The IRS said Tuesday that the Find My Payment Tool on the agency’s website won’t be updated until the weekend of April 3-4, so federal beneficiaries will have to wait at least until then to check their payment status. Recipients of VA benefits may have to wait at least until mid-April to use the device.
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Delayed Stimulus Checks For Social Security Recipients To Be Sent Soon
The American Rescue Plan provides families with $1,400 for each adult, child and adult dependent, such as college students or elderly relatives.
Payments begin to decrease for an individual when adjusted gross income exceeds $75,000 and go to zero when income reaches $80,000.
Unlike first and second round checks, third round dependent payments are not limited to children under the age of 17.
According to the IRS website: “Eligible families will receive payments based on all eligible dependents reported on their return, including older relatives such as college students, disabled adults, parents and ancestors.”
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Now it is important to note that if you are a dependent, the check will not go to you, it will go to the person claiming you as a dependent. Other federal beneficiaries who did not file a 2019 or 2020 tax return.
WASHINGTON – Social Security recipients and other federal beneficiaries who don’t normally file tax returns should be able to check IRS Get My Payment next week to see if their money is on the way. After that, the IRS announced that the payment will go out on April 7.
The federal government began distributing the third round of financial impact payments to millions of Americans in mid-March. But the filing delay temporarily halted payments to Social Security, Social Security and Railroad Retirement Board beneficiaries who did not file a 2019 or 2020 tax return or use the tools available on the IRS website for non-filers. Realization.
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The IRS said Tuesday it expects payments to be sent to beneficiaries by April 7. However, the agency noted the Find My Payment tool on IRS.gov will not be updated until the weekend of April 3-4. Payment next week.
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The government needs to distribute useful updated information to start the latest round of payments. After receiving information from the Social Security Administration on Thursday, the IRS began reviewing, verifying and verifying tens of millions of records to ensure eligibility and correct payment calculations.
If no additional issues arise, the IRS said it hopes to complete the work and begin processing those payments by the end of this week. Because most payments will be made electronically, they will be available on April 7.
The IRS updates the Get My Payment tool for eligible individuals when their payments are processed. The agency noted that the tool on IRS.gov will not be updated until the end of next week and that information for federal beneficiaries is expected to be provided next week.
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The IRS said it is still reviewing data from Veterans Affairs benefits and hopes to determine payment dates and provide more details soon. A senior citizen group is increasing their pressure on Congress to send Social Security recipients a fourth stimulus check. (iStock)
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The Senior Citizens League (TSCL), a nonpartisan seniors group, is pushing Congress to issue a fourth stimulus check of $1,400 to Social Security recipients.
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TSCL President Rick Delaney sent a letter to congressional leaders requesting another round of stimulus checks for people on Social Security Income (SSI), according to the group’s update last month.
“We’ve heard from thousands of [seniors] who have exhausted their retirement savings, who have gone from eating one meal a day, and cut their pills in half because they missed their prescriptions.” be able to, just to list a few. Many have had to take these drastic measures because of the inflation this year,” said the letter. “Many have written to us saying ‘our government has forgotten us’.
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“A $1,400.00 stimulus check for Social Security recipients could be a way for them to earn additional income that is not taxable,” Delaney said in the letter.
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With inflation rising, the Social Security Administration (SSA) announced that beneficiaries will see a 5.9% increase next year, the largest increase in nearly 40 years. This increase is due to the cost-of-living adjustment (COLA) which determines the change in Social Security payments each year.
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“This will be the highest COLA that beneficiaries living today have ever seen,” Mary Johnson, a policy analyst for Social Security and Medicare, said. “But a higher COLA means unusually high inflation is affecting consumers. The Senior Citizens Association has received more than 200 emails in the past month, with many retirees and those on disability describing these situations. Bad. They face rapid inflation that makes it impossible to pay the bills.”
SSA has increased payments by an average of 1.4% over the past 12 years, and 1.3% in 2021. Now, TSCG says the increase is too little, too late, as seniors deal with rising inflation and costs. other.
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“Over the past 21 years, COLAs have increased Social Security benefits by 55 percent but housing prices have increased by nearly 118 percent and health care costs have increased by 145 percent over the same period,” Johnson said.
Financial impact payments for those who qualify for Social Security retirement income can help reduce those costs, the seniors group said.
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Despite TSCL’s pressure and letters, the group said no congressional support for a fourth stimulus check has emerged. In response, citizen groups have created a petition to raise awareness and support for stimulus checks among Social Security recipients.
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“In 2021, Social Security benefits will increase by only 1.3 percent of the average monthly benefit of $20,” the petition said. “But 86 percent of Social Security recipients surveyed said their expenses are much higher than that amount.”
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