IRS Update Regarding Stimulus Payments for SSI Recipients
On Wednesday, April 15, the Internal Revenue Service (IRS) released an update regarding the delivery of economic impact payments to recipients of Supplemental Security Income (SSI).
The IRS worked with the Treasury Department, the Social Security Administration, and the Bureau of Fiscal Services to establish automatic transfers of economic impact payments to SSI recipients. This extensive cooperation was required because SSI recipients are typically not required to file tax returns. The IRS expects to release economic impact payments to SSI recipients in early May, at the latest.
With this announcement, SSI recipients join three other groups of typically non-filing groups who will receive economic impact payments without needing to file 2019 taxes (recipients of Social Security retirement benefits, SS disability benefits, and Railroad Retirement benefits). All members of this group should note that those with qualifying dependents need to complete an extra step in order to claim the additional $500 (per qualifying dependent) payment. The IRS created a special tool on their website to allow members of these groups to register to receive payments for qualifying dependents. Failure to provide information about qualifying dependents will mean a delay in receiving the $500.
As with most of their recent releases, the IRS also included a note warning about scams related to the economic impact payments. They remind readers to refer directly and solely to the IRS website for information regarding these payments.
For further details, click here to read the IRS release in full.