Yesterday (Wed., April 1), the Treasury Department and the IRS announced that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an Economic Impact Payment. Instead, payments will be automatically deposited into their bank accounts.
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.
If you receive Social Security Disability benefits, Social Security retirement benefits or Supplemental Security Income, you are eligible to receive a stimulus payment. Only individuals whose annual adjusted gross income exceeds $99,000 will not get a payment.
People who typically do not file a tax return will need to file a simple tax return to receive the stimulus payment. Low-income taxpayers, senior citizens, Social Security recipients, some veterans and individuals with disabilities who are otherwise not required to file a tax return will not owe tax. If you did not file a tax return for 2018 or 2019, you will need to file the simple tax return.
IRS.gov/coronavirus will soon provide information instructing people in these groups on how to file a 2019 tax return with simple, but necessary, information including their filing status, number of dependents and direct deposit bank account information.