The U.S. Treasury Department quickly cleared up confusion about whether Social Security recipients would have to file a tax return in order to receive the economic stimulus payment from the government. On April 1, Treasury Secretary Steven Mnuchin explained, “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.”
According to a press release from the department, 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.
Social Security and SSI benefits will be paid on time
Social Security and Supplemental Security Income (SSI) benefit payments will continue to be paid on time during the COVID-19 pandemic, according to the Social Security Administration.
The agency also warned recipients of scammers who try to take advantage of the pandemic to trick people into providing personal information or payment via retail gift cards, wire transfers, internet currency, or by mailing cash, to maintain Social Security benefit payments or receive economic impact payments from the Department of the Treasury.
“Social Security will pay monthly benefits on time and these payments will not be affected by the COVID-19 pandemic,” Commissioner Andrew Saul said. “I want our beneficiaries to be aware that scammers may try to trick you into thinking the pandemic is stopping or somehow changing your Social Security payments, but that is not true. Don’t be fooled.”