President Donald Trump signed the $2.2 trillion coronavirus relief bill hours after House voted to approve it on Friday.
The main focus of the bill is to help preserve the economy and health care system wrecked by the coronavirus pandemic.
Part of the $2.2 trillion will be used to send money to millions of Americans suffering financially because of coronavirus stay-at-home orders.
The one-time direct payments of $1,200 per adult making up to $75,000 a year and $2,400 to a married couple making up to $150,000, plus $500 payments per child under 17, will be sent within the next few weeks.
People on Social Security benefits for retirement, disability or supplemental security income are in line for a direct deposit or check just like everyone else.
According to AARP, American Association of Retired People, if you receive social security you don't have to file taxes to receive a stimulus check.
The government will send you a check or direct deposit using the information you provided the Social Security Administration.
On Monday, Senator Dianne Feinstein (D-Calif.) released the following statement on the upcoming direct payments:
Filers should sign up for direct deposit for faster payment!
Getting cash into the hands of Americans families will help them through this difficult time and help stabilize the economy. The legislation passed by Congress includes direct payments – up to $1,200 per adult and $500 per child – to help them get by during this pandemic.
Anyone who filed a return for tax year 2018 or 2019 doesn’t need to do anything to receive the funds. They will automatically receive the appropriate amount based on the income in their latest tax return. Social Security recipients will also be automatically enrolled if they received benefits either year.
However, individuals who didn’t file a return for 2018 or 2019 should file a return for the 2019 tax year now. When filing a return, you should also sign up for direct deposit to receive recovery payments as quickly as possible.
Even if you don’t expect to receive a rebate or owe any taxes, filing a return is the only way to receive recovery funds.
The IRS will send out rebates automatically by direct deposit or to the address provided on the last tax return submitted.
Rebates sent via direct deposit will take a few weeks. Rebates sent via checks may take a few months.
Rebates are not taxable and do not need to be repaid.
Rebates will not be subject to garnishment, except if back child support is owed.
According to AARP:
If you are receiving Social Security benefits but didn’t file taxes in 2018 or 2019, you will be eligible to receive a stimulus check without a tax return based on data available to the IRS from your annual Social Security benefits statement. The government will send you a direct deposit or check using the information from your Form SSA-1099 Social Security Benefit Statement or your Form RRB-1099 Social Security Equivalent Benefit Statement. You will not have to file a 2019 tax return to get a stimulus check.