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In a reversal of its original plan, the Trump administration announced that Social Security recipients will not have to file a tax return to get a stimulus check of $1,200.
This was a reversal from guidance outlined Monday, stating that seniors had to file a federal return for tax year 2019, even if they weren't required to file in previous years.
Treasury officials said the Internal Revenue Service will use existing SSA-1099 and RRB-1099 forms to make coronavirus relief payments to seniors. This change came amid pressure from seniors and three dozen Democratic senators.
"We want to ensure that our senior citizens, individuals with disabilities and low-income Americans receive Economic Impact Payments quickly and without undue burden. Social Security recipients who are not typically required to file a tax return need to take no action," Treasury Secretary Steven Mnuchin said in a statement.
Seniors who have a bank account on file will be paid by direct deposit; those who don't will get a check in the mail.
The amount of each check is based on adjusted gross income. An individual earning less than $99,000, and couples under $198,000, are eligible for funds. An adult filing alone and earning up to $75,000 will get the full $1,200, as will an adult filing as "head of household" and making $112,500 or less.
Married couples who earn $150,000 or less will receive $2,400. An additional $500 will be paid for every qualifying child age 16 or under.
Payment will decrease for single filers who earn between $75,000 and $99,000, and for couples making between $150,000 and $198,000.
Anyone claimed as a dependent by someone else is ineligible for a stimulus check.
Almost everyone must have a valid Social Security number to be eligible for stimulus funding. Military members are an exception.
President Donald Trump signed the $2 trillion coronavirus stimulus bill last week, to assist individuals and businesses adversely affected by the COVID-19 pandemic. It is known as the "Coronavirus Aid, Relief, and. Economic Security Act'' - or CARES Act.
Complicated language in the act raised confusion. Whether there will be other changes is the $2 trillion question.