SSI Recipients Will Get Stimulus Payments AutomaticallyCOVID-19
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Treasury just announced that Supplemental Security Income recipients will get their stimulus payment automatically through direct deposit, Direct Express, or via paper check, in whatever manner that you would normally receive your SSI benefits.
Treasury said SSI recipients should expect their payment to be received no later than early May.
If you’d rather watch than read, check out the YouTube version here!
As you know, this was a very confusing situation for those on SSI.
Before today, before this announcement by Treasury, the safest thing for someone on SSI to do would be to file a simple tax return, and I went over this in a previous video.
And I was always hopeful that Treasury and the Social Security Administration would see eye-to-eye here and make stimulus payments automatic for SSI recipients, and as of right now, April 15, they have done so.
Of course, if you already filed a simple tax return and included your direct deposit information, that does not harm you, and in fact because you filed that simple tax return you may potentially receive your stimulus earlier than someone on SSI who did not file.
So, if you’re on SSI, you are now treated the same for stimulus purposes as those on Social Security retirement, Railroad Retirement benefits, and SSDI, meaning that you will get your $1,200 stimulus payment automatically.
However, if you have dependent children under the age of 17, you will need to use the IRS tool for non-filers that I walked through last Friday in order to get the additional $500 stimulus for them.
The tool will request basic information, such as full names and Social Security numbers for you, your spouse, and your dependents, along with your mailing address and account and routing numbers.
Now, if you only have a Direct Express card and don’t have a bank account, it’s still unclear how exactly you’re supposed to complete that IRS tool for non-filers because it asks for direct deposit information, but you don’t have direct deposit information if you only use Direct Express.
So Treasury has said: “For those SSI recipients with dependents who use Direct Express debit cards, additional information will be available soon regarding the steps to take on the IRS web site when claiming children under 17.”
Alright, that is my update. I felt that this was significant enough to warrant its own video. I’m still trying to access the IRS Get My Payment tool, but it’s still giving me errors unfortunately, but I’m going to keep trying.
Be sure to like this video and subscribe to the channel so you don’t miss future updates both on this round of stimulus as well as on potential future stimulus rounds.
Alright, that is all for right now, I’ll talk to you later, bye-bye.
Logan is a practicing CPA, Certified Student Loan Professional, and founder of Money Done Right, which he launched in July 2017. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.