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Yes: Social Security Recipients Will Get Stimulus Check!

Category: Financial and taxes in retirement

March 27, 2020 — The good news for people who get Social Security retirement or disability (SSI) benefits is that most of them are about to get a nice check as part of the stimulus package signed today. Social Security recipients are included in the bill to get $1200 (payable in the next month or so), provided they did not earn more than $75,000 on their latest tax return (a married couple gets $2400 with an income below $150,000). If a single person’s income is over $75,000 that benefit starts to be reduced, eventually going to $0 with an income of $99,000 or more (the limit is $198,000 for couples). This one time benefit is not taxable.

The payments will be made through the Treasury Department, not the SSA. Early indications are that if you receive your SS through direct deposit, that is how you will get the supplement. If you haven’t file any tax returns lately, you might have to apply for the benefit.

How to spend it?

This is certainly good news for retirees who don’t have a big income source, as most people won’t have any trouble spending a little windfall. We would be curious to see how you intend to spend yours – help out adult children who have lost their job or income, donate some of it to a charity, or spend it on something you have needed for a long time? Please let us know in the Comments section below.

We retirees in some ways are in better shape than those younger than us who are still working – at least most of don’t have to worry about losing our jobs! The point of the stimulus package is to get money back in circulation and rebuild the economy. So, if you will forgive a little editorialization, we hope you spend yours quickly in some way. Your local store owners and businesses are probably hurting. But most will probably deliver whatever you want, or have it waiting at their door. If we all spend the money quickly, it should help get things back to normal.

Posted by Admin on March 27th, 2020

52 Comments »

  1. i will (buy) food that really dont have right now

    by alaine poullard — March 27, 2020

  2. Being retired (read: unemployed by choice), I’ll likely pass it through to my newly-unemployed daughter. I’m quite surprised they would send this to people on SS and Medicare, after all, they have those numbers… And it’s not like we have anywhere to go anyway. Cruise, anyone? Nice dinner out?

    But here’s a handy snippet on estimated taxes:
    Though the first FEDERAL payment normally due on April 15th will now be due on July 15th, the second FEDERAL estimated tax payment is currently still due on June 15th…

    Yes, the second payment is due June 15th (before the first payment).

    by Peder — March 28, 2020

  3. National Debt closing in on $24 Trillion, even before this disbursement. Within weeks the US taxpayer will be on the hook for over $200K each. And not even a T-Shirt.

    “I would gladly pay you today for your vote tomorrow. I’ll send you $1200. Can I borrow 8 trillion? Actually, just give me 4. Then I’ll owe you 4, you’ll owe me 4, and we can just get past this ‘who owes who’ stuff.”

    by Peder — March 28, 2020

  4. I will save the money as I do not have a pension and will need it for expenses. I am grateful that we are getting this infusion and I will put it to good use. I am also glad that others can bless others because they do not need the money. I have a friend who is giving the entire check to her hairdresser since he had to close his salon. I am sure she will have a lovely haircut.

    by Jennifer — March 28, 2020

  5. Is this taxable income?

    by Jim — March 28, 2020

  6. so, I just hope that the few jackasses on this site keep politics out of this conversation…people are dying !

    by Uncle al — March 28, 2020

  7. Replace much needed broken house heater. Had to happen in the coldest winter I can recall in past 52 years. Guess it and I are getting old and broken at same time.

    by KT — March 28, 2020

  8. I am losing between 200 and 500 a month in extra income from jewelry sales, which supplements my social security. So I disagree that those on social security do not need the payment. Both of the shops where I sell on consignment are closed. This was always my play money for travel. So I will still use it that way, for my September cruise.

    by Pat — March 28, 2020

  9. I’m going to pay on my mortg. and county taxes and house ins!!!!!!!!!!!!!!!!!!!!!!!!!

    by gloria velez — March 28, 2020

  10. Jim. Not taxed.

    by Roger W Hylton — March 28, 2020

  11. I am a little confused about which tax year filing this payment going to be based on. So, for the filing last April 2019 ( for year 2018] my income was low and I lived off savings and SS while fighting cancer. In 2019, I went back to work and my income exceeds the 75k. I did not have to go back go work at 68, but my life is purpose driven. So, will I have to pay the check they are sending me back when I file in July 2020 for the 2019 year? I need clarity on whether this is going to be taxable to me at all.

    Editor’s note: Based on how I read the news, since you haven’t yet filed your 2019 return, your stimulus check will be based on your 2018 return. Hopefully you will have the check before you file!

    by Maimi — March 29, 2020

  12. Maimi, have you filed yet for 2019? Look at this from AARP website:

    https://www.aarp.org/politics-society/advocacy/info-2020/coronavirus-stimulus-checks.html?cmp=EMC-DSO-NLC-WBLTR—MCTRL-032720-TS2-4463781&ET_CID=4463781&ET_RID=13398228&encparam=kESAEnbDC7EL3NKn8zLcL7vVBsfmeGZxBWXVeWLxWi0%3d

    by Daryl — March 29, 2020

  13. We will donate ours to a group fighting COVID 19

    by Pat Luftman — March 29, 2020

  14. Roger and everyone. Just reread article and see it clearly states this is not taxed. Skimmed article too quickly the first time an missed it.

    by Jim — March 30, 2020

  15. I’m saving mine for when I really need it, or for future travel after I get my Covid-19 vaccination (whenever that will be). I have never been a big spender, so spending it just to jumpstart the economy doesn’t make sense for my personal economics. I know that’s why it was distributed, but I do not want to eat food that someone else has cooked, I do want to stay put, I do not need more stuff, and I would rather have a fatter savings account and spend it when it makes sense to me. BTW, it was clear to me when I read the above article that it was not taxable. I hope everyone is healthy now and stays that way!

    by Elaine C — April 1, 2020

  16. (duplicate from another SS post)
    Will 55 year old people who have SSDI, not SSI, receive the stimulus package? I am 55, I receive Social Security Disability Income (not SSI), and I am part of the Traumatic Brain Injury Waiver program in New York State

    Editors Comment: Hi Amy, yes, everyone on SS, whether it is SSDI or SSI will get the stimulus package. Unless he or she makes more than $98,000. See our article on it:
    https://www.topretirements.com/blog/financial/yes-social-security-recipients-will-get-stimulus-check.html/ with Comments from others.

    by Amy — April 1, 2020

  17. The point of the stimulus package is to put money in people’s hands so they spend it, thus stimulating the economy and getting us back on track. So although we can obviously do whatever we want with the money, if we all can spend it we will be helping the country get back on its feet quicker. Yes, a lot of stores are closed, but our local stores and restaurants would probably be delighted to deliver something to us or on the curb. Local charities and food banks are in great need too.

    by Rick — April 1, 2020

  18. It will replace $1,200 that I would otherwise have taken out of my 401K. I withdrew 1/2 of my annual withdrawal at the beginning of January. I’m cutting discretionary spending out of my budget, to stretch that initial withdrawal as far as possible. I have enough cash in my 401K to supplement SS for a year or two without selling the stock & bond mutual funds, but I’d like to keep that cash available in case the recession hangs around longer than the experts are predicting.

    by Kate — April 2, 2020

  19. my wife wanted to donate the $2400 we will be getting…then I pointed out our investments went down by at least 60%, and the small rental property we were relying on for extra income has suddenly decided they are not paying their rent…needless to say, I am my own donation recipient….

    by Uncle al — April 2, 2020

  20. I am on disability an ssi I owe the food stamp about a thousand they claim they will probably take mine they did this last time. We will I’ll end up paying for this stimulus later higher taxes or no or smaller cost of living increases of our social security disability as if the last cost of livening wasn’t tiny enough an within 2 months of getting it the price of goods outpaced it as the cost of livening increase happens every few months. …. (political commment) I no longer trust our goverment don’t think I ever did. Legalize marijuana in every state federal as well see how quick we old hippos fix things. Stay safe an happy everyone. Someday when the power of love overcomes the love of power we will be ok…,,

    by Mike — April 17, 2020

  21. Today is April 21 and neither me nor my wife has gotten a check, we make less than $50,000 filing jointly and we really need the help. Some people making over $150,000 got check checks, we need it.

    by winston james — April 21, 2020

  22. Winston: This recent article gives the roll-out schedule. It looks like many of us won’t see the money deposited until after May 1.

    https://www.nj.com/coronavirus/2020/04/when-will-stimulus-checks-from-the-coronavirus-relief-package-arrive.html

    by Kate — April 22, 2020

  23. Winston,

    I filed both my 2018 and 2019 taxes (and paid the amount I owed for 2019) electronically and they have my bank account number. I have yet to see the $1200 stimulus money in my account. It should arrive soon. Know that you are not alone in not having yet received the stimulus money.

    by Jennifer — April 22, 2020

  24. I made a donation to a needy charity and buying a puppy 🙂

    by Brian — April 22, 2020

  25. hey Brian….try ADOPTING a puppy instead of BUYING one….pounds are full of those poor creatures in need of homes and foods ! ….you will be a better person for it…

    by uncle al — April 23, 2020

  26. uncle al, I completely agree. I’ve adopted and bought more than my share of dogs in the past 50 years and some of the most wonderful came from a pound.

    by RichPB — April 23, 2020

  27. Brian–Buy that puppy! I have had many a purebred dog from reputable breeders, and they all lived into their mid to late teens with no serious health issues. I love yorkies!!!

    by Pat R — April 23, 2020

  28. Daryl, thanks for that link. So, it really doesn’t answer what I want to know. I have not filed my 2019 taxes yet, but earned over the limit to get anything from the government. My 2018, I was sick and not working, so I earned under the limit. If I get that check and then file my 2019 return once my accountant is open for business again, will I have to pay it back? It just doesn’t seem right that at 69 years of age as a cancer patient working my tail off to make up for all my medical expenses, I would have to pay higher taxes while others get a check for sitting home. Sometimes these tax policies make no sense and this one is crazy.

    by Maimi — April 23, 2020

  29. Maimi: As long as you haven’t filed your 2019 taxes yet, you should receive the payment based on your 2018 return. The payment is a credit against 2020 taxes, and it doesn’t look like you’ll have to pay it back. https://www.cnbc.com/2020/04/13/will-you-have-to-pay-back-the-coronavirus-stimulus-check.htmlyour 2018 income.

    by Kate — April 24, 2020

  30. I wondered if anyone has not received their money yet, and is in a similar situation to us. My husband is on social security, I still work (until May 31!). We filed our 2019 taxes as a married couple, received our refund through direct deposit in mid February through an account we have used for several years with the IRS. We are well under the $150,000 limit for a couple. To this day we have received nothing. I figured ours would be a simple one! When I check the IRS site, I get that infamous message that they can’t tell if we qualify. I’m not understanding why. Can anyone shed any light on this for me? Thank you.

    by LindaH — April 24, 2020

  31. LindaH……here’s a link to a 4/21 Forbes article that lists 3 reasons for not receiving a Stimulus Check.
    https://www.forbes.com/sites/zackfriedman/2020/04/21/stimulus-checks-schedule/#1edd322e7b84
    I determined that I need not attempt on the Get My Payment site any longer.

    by coachbluey — April 24, 2020

  32. Maimi, here is what I found on the Marketwatch website”

    “Say someone made below the $75,000/$150,000 income threshold in their 2018 return but their 2019 earnings turned out to be exceed that amount.If they receive the stimulus money and submit their 2019 tax return afterwards, the IRS won’t turn around and ask for the money back, according to Rob Seltzer, a Los Angeles–based financial planner who’s the president and founder of Seltzer Business Management.
    “They are not going to claw it back,” he said.

    https://www.marketwatch.com/story/do-i-have-to-pay-back-my-1200-stimulus-check-dont-fall-for-these-five-myths-about-the-stimulus-payments-2020-04-18

    by Daryl — April 24, 2020

  33. Hi LInda,

    I was in the same boat, but try the IRS site again today; this morning it let me enter additional information that will hopefully speed the process along. Good luck to all of us !

    by William — April 24, 2020

  34. Thank you for the link, but none of the reasons for not having received my check by direct deposit apply to us. Believe me, I’ve been reading and nothing I’ve run across applies to my situation. According to everything I’ve read we fulfill all the qualifications for having gotten our check the first week. I’m trying to find someone who might be in the same situation as me and can tell me if they or their spouse receive SS, and could that possibly be the holdup.

    by LindaH — April 24, 2020

  35. Still no deposit. “Get Your Check” on the IRS website shows they have my direct deposit info, and that I’m eligible. I did find a good story from a Houston news station, saying that the IRS tweeted this week that SS recipients will get their stimulus payments “in the next three weeks. “https://www.khou.com/article/news/health/coronavirus/when-will-stimulus-checks-be-mailed-what-to-know-if-youre-still-waiting/507-a0bf039b-81a0-45d8-9040-25f325fa17e2

    by Kate Tanski — April 25, 2020

  36. LindaH
    The only thin I can think of is that if your husband is listed first on tax return then you’ll fall under the SS payout schedule which was starting on either April 24th or may 8th?

    by Roger H. — April 25, 2020

  37. Daryl, thanks for that link. That makes me feel better about getting a check. I cluld use it , but not if I have to pay it back. I resigned my job, because it just isn’t safe for me to be there with this pandemic.

    by Maimi — April 26, 2020

  38. Thanks for the idea, Roger. I do the taxes in our house, so my name just comes first out of habit. I guess we’ll just keep watching for a few more weeks and if it doesn’t show, try and find where to get help. I keep telling my husband some random dead person got our check and is spending our money!

    by LindaH — April 26, 2020

  39. Well….the IRS site said our checks would be sent out on 4/24 and we received it this morning. We filed this year but are on the lower income bracket. That’s why we got it sooner.

    by Mary11 — April 27, 2020

  40. To all waiting on SS stimulus checks; they are starting to come out now. Be patient. (I’m a mailman???)

    by Roger H — April 27, 2020

  41. Supposed to be !!!; not ??? Lol

    by Roger H — April 27, 2020

  42. My check status has changed! As of this morning, the “Get Your Check” site on IRS.gov shows it will be deposited directly to the account that I registered last week.

    by Kate — April 28, 2020

  43. IRS.gov shows it will be deposited on Friday.

    by Kate — April 28, 2020

  44. Hello I have been on Disability social since 2012 will I receive Stimulus check

    by Barbara — April 30, 2020

  45. Still haven’t got my stimulus check. I should qualify with income, and since I am on Social Security with direct deposit that shouldn’t be a problem either. Wonder how many others are in the same boat?

    by Keith — May 3, 2020

  46. Hi Keith:

    I also qualify on all the points that you do and I live in Washington, DC. I use direct deposit with SSA and I have filed 2018 and 2019 with direct deposit. I still have not received my stimulus money. The website at IRS.gov says it is on the way. I believe that the lowest income recipients got theirs first. After May 8 more money will come to those who earn a bit more income and so on.

    by Jennifer — May 4, 2020

  47. I haven’t received mine either. And as of this month I am still working – no Social Security. I qualify on all fronts to have gotten it the first week and still nothing and the website still says they can’t decide if I qualify. We don’t need it, so that’s a blessing, but it’s frustrated having no avenue to try and figure out what’s going on!

    by Linda H — May 4, 2020

  48. So, even though we get Social Security by direct deposit, filed our 2019 taxes and even received our tax refund before this all began, the irs.gov Get My Payment form says it needs banking information before it can send us the stimulus money. I thought social security recipients were going to get it automatically? Perhaps because we do not have our tax refund automatically deposited? Who knows.

    by Daryl — May 4, 2020

  49. So many saying they have not received checks — I can only add that there is hope. We heard nothing, nothing, nothing. SS by direct deposit, no other income, taxes paid. Then suddenly Saturday we learn the deposit is pending — to be made Wednesday. There is hope.

    by RichPB — May 4, 2020

  50. The follow comments came from a different blog topic, but were moved here for further discussion:

    Hi All,?Not sure if this is the correct place to post this question. But regarding receiving your Corona Virus assistance payment of $1,200 per person. Has this happened to anyone? My brother has been waiting and waiting for his stimulus money. He finally got a letter from President Trump dated May 13th (received today June 5th). Letter says… “we scheduled your payment to be deposited on May 13th. If you don’t see it deposited in your account check with your bank…” He had requested the money to be direct deposited. So he checked in his bank account – no payment in there. He called his bank – they have no clue. He called the IRS number – nobody home. He left a voice message that will likely never be answered. Could it take so long to deposit if they said it was scheduled to deposit on May 13th?? Anyone have this happen? Ideas about how to track down the payment? I would appreciate it, thanks.
    by Cindy — June 5, 2020

    Hello Cindy,
    There are many possible explanations just a few of which are outline below:?Does he have a 2nd checking account or savings account the payment may have routed to that he has not checked yet??Does he have a recent (last 2 years) divorced spouse the payment may have been routed to??Did he really receive a paper check in the plain white unmarked envelope that many folks have discarded believing it to be junk mail instead of knowing it was a check from the IRS??Does he owe back child support, federal student loans or have any other government financial lien against him that the payment may have been garnished from?
    Good luck with finding/receiving this money, Danno
    by Danno — June 6, 2020

    Cindy –?Same letter was sent to my brother. He has never filed electronically so he will either receive a check or the debit card. Hope it’s soon. It has been a l-o-n-g time to wait for assistance.
    by Sue — June 6, 2020

    Danno, thank you for your ideas. However, none of those situations apply to my brother. And Sue, I see your brother is in a similar predicament. Nothing to do but wait….. and hope I guess.?Thank you both for your thoughts.
    by Cindy — June 7, 2020

    Cindy~Your brother might try contacting either his Congressional Representative or his Senator and asking if their offices could provide help. Mine was absolutely useless when I tried, but in the past, I’ve had success. They live to be re-elected, and helping their constituents is part of that. Good luck to him.
    by Andrea — June 7, 2020 | Edit This

    by Admin — June 7, 2020

  51. FWIW. I read that some folks who used TurboTax had their checks deposited to the bank card (TurboCard) that Intuit uses to provide refunds rather than the taxpayers personal account (just another hypothesis).

    by Peder — June 8, 2020

  52. Hi Peder:

    I think I was lucky as I used TurboTax last year and this year in early February. My stimulus check was deposited to my bank account as was expected in mid May.

    by Jennifer — June 9, 2020

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