Posted on 04/02/2020 5:47:59 AM PDT by blam
The IRS has reversed course to eliminate a controversial requirement on Social Security recipients seeking stimulus checks as part of the government's coronavirus response package.
After initially saying that Social Security recipients would have to file a "simple" tax return for 2019 -- which they ordinarily would not do -- the IRS now says the payment will be automatic without it.
"Social Security recipients who are not typically required to file a tax return ... will receive their payment directly to their bank account,” Treasury Secretary Steve Mnuchin announced Wednesday evening, noting that they will not have to take any action.
The change follows pressure from lawmakers who urged the IRS to drop the condition.
"This filing requirement would place a significant burden on retired seniors and individuals who experience disabilities, especially given the current unavailability of tax filing assistance from Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs during the COVID-19 crisis," said a letter from more than three-dozen Democratic senators.
House Ways and Means Committee Chairman Richard Neal, D-Mass., also pushed for the change.
"My colleagues and I strongly urge Treasury Secretary Mnuchin and Social Security Administrator [Andrew] Saul to find a solution that will allow vulnerable groups to receive these funds automatically, without needing to file an additional return," Neal said in a statement.
The $2.2. trillion coronavirus response bill signed by President Trump last week sets aside recovery funds for workers and businesses squeezed by unprecedented restrictions to combat the virus. The bill will provide one-time payments of up to $1,200 to adults and $500 per child.
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(Excerpt) Read more at foxnews.com ...
I still cannot find out when this is going to happen. Does the government even know?
why are retired people getting a check....they are not unemployed
I wonder which DC bureaucrat thought he was going to use this move for his power play up the ladder-more staff, we're implementing immediately as soon as we have our office stragy offsight to work out our hiring strategy plan to acquire the authorization we need to hire the staff to put the regulations in place to execute this emergency plan.
That isn't even 1/100th of what the feral bureacracy has been doing to expand the DC metro area from a small town to a sprawling metropolis of 5 million all service the public interets.
Well, I just started getting SS and my wife has been getting it for a year. I’m also still working. I wonder if we will both get $1200 checks. I have paid a lot in income tax in my life. Any time I can get some of it back, for any reason - even a clerical error - I’m all over it. :)
It’s not an unemployment check. But I think this speaks to the reason they are doing it. It’s been known for a long time that a “booster shot” to the economy has always been putting a small amount of seed money into the general population. They typically just spend it, increasing the size of the economy. I think that is the reason for this. It’s not to help individual people. It’s to cause individual people to put it back into the economy, increasing the size of the economy.
For many years I’ve looked at any payments given to the poor as actually being given to the economy THROUGH the poor. Imagine if all government handouts stopped. Do you think that would impact the amount of money spent at Wal-Mart every day? :)
Why is ANYBODY getting a check?
If you’re employed, then YOU ARE EMPLOYED and your income has not changed.
If you get let go, there’s unemplpoyment.
So you and others stop bitching about people here who have worked their whole lives getting a lousy 1200 bucks while SIX TRILLION altogether will be pi@@ed away.
You crying like a little girl about the other 5.7!!!!! trillion being spent??
Stop being a baby and open your eyes to where the Really Big money is going.
Why are unemployed people getting a check when we already have a unemployment insurance program in place that will be enhanced by as much as $600 a week, not to mention food stamps etc.
It's not about unemployment. It's to get everybody spending and moving money around in the economy. So....the more the merrier, eh?
I thought there was $350 billion in the package for illegal immigrants.
Maybe not.
Getting a check looks like a bucket of cold water on the Donkey/Media talking points (complaining/whining points).
You always sound like you're 13 years old or something.
I wish you would stop polluting threads that I post.
The IRS screwed up. They ASSUMED it was the same as Obama's disaster in 2008 when SS folks did have to file to get their stink'n $250.
Thats a great defense for stupid spending: "Look how much other stupid spending there is!"
Most individuals earning less than $75,000 can expect a one-time cash payment of $1,200. Married couples would each receive a check and families would get $500 per child. That means a family of four earning less than $150,000 can expect $3,400.The checks start to phase down after that and disappear completely for people making more than $99,000 and couples making more than $198,000.
Does anybody know if this will be means tested benefit?
Should have added...the economic slump will affect retired people who are living on income from nest eggs in that those nest eggs will most likely have shrunk considerably. Retirees living on stock dividends will soon notice that their income will have shrunk as companies slash dividend payouts.
“Most individuals earning less than $75,000 can expect a one-time cash payment of $1,200. Married couples would each receive a check and families would get $500 per child. That means a family of four earning less than $150,000 can expect $3,400.”
“The checks start to phase down after that and disappear completely for people making more than $99,000 and couples making more than $198,000.”
Read the Bill....Page 149.
True, but they vote!
Probably not. They don't care who spends the money....just spend, spend, spend.
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