Seniors and Social Security recipients will not have to file a tax return in order to receive a coronavirus stimulus check.
Instead, they will automatically receive the $1,200 check, Treasury Secretary Steven Mnuchin confirms.
The announcement comes after the IRS issued confusing guidance that made it seem like Social Security beneficiaries would have to file tax returns to be able to benefit from the money.
On Wednesday night, Mnuchin confirmed that seniors and Social Security recipients will be able to get the check without having to jump through extra hoops.
More details on this development below:
The media has been consistently attempting to fault President Trump for every issue related to the COVID-19 pandemic.
Many were even claiming that Trump hasn't done enough to help Americans.
However, the CARES Act will quickly provide financial relief to tax payers as well as businesses that employ them.
Now, Social Security recipients will also get to benefit from the stimulus package without having to take any further action.
The Hill reports on Mnuchin's statement:
The Treasury Department said late Wednesday that Social Security recipients who typically don't file tax returns will automatically receive their coronavirus relief checks and will not have to file tax returns to receive their payments.
The announcement comes two days after the IRS released guidance that suggested Social Security beneficiaries would need to file what are known as simple tax returns to receive the money.
“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,” Treasury Secretary Steven Mnuchin said in a statement Wednesday night.
The coronavirus relief measure President Trump signed into law on Friday provides one-time payments to individuals, with up to $1,200 per adult and $500 per child.
The law states that in cases where taxpayers didn't file a tax return in 2018 or 2019, the IRS can look at information in Social Security and railroad retirement benefit statements to get people their payments.
But the IRS released a question-and-answer document on Monday saying that "some seniors and others who typically do not file returns will need to submit a simple tax return to receive the stimulus payment."
Lawmakers, tax policy experts and advocates for retirees were upset with the IRS guidance, arguing that requiring seniors to file tax returns to get their payments would be burdensome. A number of lawmakers wrote letters to the Trump administration urging officials to allow seniors to automatically receive their payments.
Treasury on Wednesday said the IRS will look at Social Security and railroad retirement benefit statements to get recipients their payments and that Social Security beneficiaries will receive their payments via direct deposit or a paper check by mail, as they would regularly receive their retirement benefits.
While these are economically uncertain times, the stimulus package will provide some security and relief for those who need it the most.
People won't be so stressed over where their next paycheck will come from.
Businesses will be better equipped to protect their workers and stay afloat as consumers are instructed to stay home.
The social distancing guidelines have been extended through the end of April, and it is unclear whether they will be extended yet again.
The $2.2 trillion stimulus package gives eligible Americans a $1,200 check for those earning less than $75,000 per year.
The benefits phase out until earnings reach $99,000.
Parents also get a benefit of $500 per child.
This is double the amount that the Bush administration sent out during the 2008 financial crisis.
It is also reported that 3.5 million million seniors on Social Security missed out because they didn't file a tax return.
However, under President Trump, all Social Security recipiants will automatically receive the stimulus check.
NBC News also confirms the protection for seniors:
"We want to ensure that our senior citizens, individuals with disabilities, and low-income Americans receive Economic Impact Payments quickly and without undue burden," said Treasury Secretary Steven Mnuchin. “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.”
Treasury officials said the IRS will use existing SSA-1099 and RRB-1099 forms to make the payments to seniors. They'll get a direct deposit if there is a bank account on file; otherwise they'll receive a check in the mail.
Americans who make less than $99,000 — and couples earning under $198,000 — are eligible under the new law for coronavirus relief payments.
While President Trump and Republicans acted quickly to help Americans and businesses, Democrats focused on stuffing pork into the stimulus package.
It is now being reported that the Kennedy Center has furloughed up to 60 percent of its staff, even after receiving a $25 million stimulus check.
Fortunately, the president understands the importance of protecting the most vulnerable among us, including our seniors!