The 2020 Stimulus and What It Means for the Disabled
Here is some information regarding the IRS 2020 Stimulus and how it affects individuals who receive a Social Security Income and Representative Payees Responsibilities.
At 305 8th Street, we are the representative payee for most of residents. Good news, the stimulus check does not affect their income limits.
Representative Payee Action
Do I need to file anything on behalf of someone receiving any benefits?
Will the stimulus funds be counted against the $2,000 limit for expenses for those receiving Social Security Supplemental Income (SSI)?
How do I know which type of funding is received to know if it is automatic?
Based on a direct deposit of Social Security benefits, the notation of the type of benefit is written in the memo (example: SUPP SEC stands for Supplemental Security Income (SSI))
If a paper check is received, letters are code for the type of benefit received in the lower left corner of the check.
SSI = Supplemental Security Income
SSA = Social Security
SSDI =Supplemental Security Disability Income
SSDA =Social Security Disability
How should I spend the money?
At 305 8th Street, we ensure the following are completed for all we represent:
1. Address immediate needs
2. Address long-term needs, secure burial plans (this is #1 if the resident is high risk)
3. Address fun needs
Information from the IRS and Social Security
To find more information, visit the following to see if you or a family loved one receiving benefits may also receive a stimulus check.
According to IRS.gov (https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here) a stimulus is being provided to the disabled.
Below is information from the IRS regarding the 2020 IRS Stimulus. Check the link above to view the full content.
Who is eligible for the Economic Impact Payment?
U.S. citizens or resident aliens who:
Have a valid Social Security number,
Could not be claimed as a dependent of another taxpayer, and
Had adjusted gross income under certain limits.
Who will receive the Economic Impact Payment automatically without taking additional steps?
Most eligible U.S. taxpayers will automatically receive their Economic Impact Payments including:
Individuals who filed a federal income tax for 2018 or 2019
Individuals who receive Social Security retirement, disability (SSDI), survivor benefits, or Supplemental Security Income (SSI)
Individuals who receive Railroad Retirement benefits
Who should use Non-Filers: Enter Payment Info to provide additional information to receive the Economic Impact Payment?
Eligible U.S. citizens or permanent residents who:
Had gross income that did not exceed $12,200 ($24,400 for married couples) for 2019
Were not otherwise required to file a federal income tax return for 2019, and didn't plan to
You can provide the necessary information to the IRS easily and quickly for no fee through Non-Filers: Enter Payment Info. We will use this information to determine your eligibility and payment amount and send you an Economic Impact Payment. After providing this information you won’t need to take any additional action.
According to SSA.gov (https://blog.ssa.gov/supplemental-security-income-recipients-will-receive-automatic-covid-19-economic-impact-payments/)
Social Security retirement, survivors, and disability insurance beneficiaries (who don’t normally file taxes) will also qualify for automatic payments of $1,200 from Treasury. These payments are anticipated to start arriving around the end of April.
The Treasury Department, not Social Security, will make these automatic payments to beneficiaries. Recipients will generally receive the automatic payments by direct deposit, Direct Express debit card, or by paper check, just as they would normally receive their SSI or Social Security benefits.
For those SSI and Social Security retirement, survivors, and disability insurance beneficiaries, with dependent children, who use Direct Express debit cards, additional information will be available soon regarding the steps to take when claiming children under 17, on the IRS website.
Please note that the agency will not consider Economic Impact Payments as income for SSI recipients, and the payments are excluded from resources for 12 months.
For more information, contact Andrea Williams at andrea@3058thstreet or call 256-489-2997.