Treasury Does 180 on Stimulus Funds for One Set of Americans

Social Security recipients won't have to file tax return to get money
By Jenn Gidman,  Newser Staff
Posted Apr 2, 2020 6:32 AM CDT
Good News for One Group on Virus Stimulus Checks
Treasury Secretary Steven Mnuchin speaks about the coronavirus stimulus package in the James Brady Press Briefing Room on March 25, 2020, in Washington.   (AP Photo/Alex Brandon)

One of the biggest challenges the Treasury Department has in getting Americans their checks from the $2.2 trillion coronavirus stimulus package is tracking down people who don't file tax returns. Now, at least one key group of nonfilers will see that process expedited. The official word, delivered from Treasury Secretary Steven Mnuchin in a statement late Wednesday, per NBC News: "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, and will receive their payment directly to their bank account." Those who don't have direct deposit info on file with the IRS will receive a paper check.

The move is a reversal of the original IRS wording, which noted seniors and those with low incomes would have to file a "simple" tax return to get the money. Americans can expect to receive an amount that starts out at $1,200 per individual and $500 per child; it starts phasing out for anyone who makes $75,000 or more per year and disappears altogether at $99,000 (double that for married couples), per recent tax returns. Meanwhile, NBC notes that people who owe back taxes or who have delinquent student loan payments won't be penalized and will receive their stimulus payment in full. Who won't be getting the funds, or at least not the full amount: anyone who owes child support. Mnuchin has said direct deposits will begin showing up on April 17, with paper checks sent in the mail to follow, per the Washington Post. CNN notes the payments won't be taxed, according to the IRS. (More coronavirus stories.)

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