Community Chat

[NickNack]

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@gizmogal wrote:

This is worth reading. It was in the Washington Post

April 1, 2020. I don't think it's an April Fools entry. It's legit and it's relevant. 

https://www.washingtonpost.com/business/2020/04/01/bailout-checks-social-security/?

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@gizmogal   It's definitely worth reading.  Thank you for posting this.

[hckynut]

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@DiAnne wrote:

@hckynut 

I have been retired long enough that I am sure I have used up my contributions to the fund.  I was curious because if I receive any money I am going to donate to help the people that are really suffering since I don't need it.

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@DiAnne 

I retired in '91 and I ain't close to caught up. Guess your checks were smaller than mine. Nice that you don't need it, many of us aren't that fortunate. 

Check the charity thoroughly, many use 90% of the top to pay their unpoor employees.

hckynut

[lovesrecess]

If they already have your direct deposit info,  they will dispose the check into your account. You can do the 1040 onllne.

[Tadaki]

@newjersey 

News alert from the Washington Post at about 8:30 this evening:

Social Security recipients who don't usually file tax returns no longer need to file them to get sti... After facing sharp criticism for forcing seniors who don't usually file tax returns to do so to get coronavirus relief payments, the Trump administration announced late Wednesday that Social Security recipients wouldn't have to do so. The government will use information on Social Security forms to get payments to seniors.

[Linmo]

I'm glad that they decided to automatically send or deposit the payment for social security recipients that don't file tax returns.  If they were required to file even a simple tax return, many would probably not do it and miss out on their payment.

[Tadaki]

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@Linmo wrote:

I'm glad that they decided to automatically send or deposit the payment for social security recipients that don't file tax returns.  If they were required to file even a simple tax return, many would probably not do it and miss out on their payment.

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I agree and didn't understand it.  They should be the easiest since I'm assuming most, if not all, are on direct deposit.  The only thing I could think of is that some might be over the income limit with social security plus other income.  But seems like it would be easier to identify those over the income limit than to have everyone else file a return.  And I really don't even know if that's why they were doing it.  

[Nuttmeg]

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@noodleann wrote:

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@Nuttmeg wrote:

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@noodleann wrote:

They seem to be making it up as they go along. I don't trust them not to claw this back in 2021. I won't be filing. 

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@noodleann

I would suggest you go online to a reliable source and read this package. A Google search would do the job. 

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No, I have enough to deal with. I don't trust anything about the way this is going down, from masks to the tests to the duration to the funds--nothing. I'm not going to waste trust on what I read today, knowing it's likely to change tomorrow. That way lies madness, or at least demoralization. Nothing is certain, except the 18 rolls of Angel Soft in my car.

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@noodleann

I never look past money. Life is uncertain and with a possible downturn in the economy.  We seniors may not receive any  Cola increase in SSA next year. 

I am going to use the money to pay my May property taxes. 

[gardenman]

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@Nuttmeg wrote:

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@noodleann wrote:

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@Nuttmeg wrote:

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@noodleann wrote:

They seem to be making it up as they go along. I don't trust them not to claw this back in 2021. I won't be filing. 

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@noodleann

I would suggest you go online to a reliable source and read this package. A Google search would do the job. 

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No, I have enough to deal with. I don't trust anything about the way this is going down, from masks to the tests to the duration to the funds--nothing. I'm not going to waste trust on what I read today, knowing it's likely to change tomorrow. That way lies madness, or at least demoralization. Nothing is certain, except the 18 rolls of Angel Soft in my car.

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@noodleann

I never look past money. Life is uncertain and with a possible downturn in the economy.  We seniors may not receive any  Cola increase in SSA next year. 

I am going to use the money to pay my May property taxes. 

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My suspicion is that the economy will rebound quickly. With this affecting the whole world, and not just the US, I think things will bounce back in short order. People will still need things after this is over and our economy is largely commerce based. If we bring back critical industries like pharma and medical supply manufacturers, that will help boost the economy also. Those retailers still open are selling a lot. It's like Black Friday everyday in my local Walmart with shoppers lined up early waiting for the store to open. Grocery stores are having huge sales numbers also. I suspect the economy will be looking pretty good in the not too distant future. 

[esmerelda]

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@Tadaki wrote:

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@Linmo wrote:

I'm glad that they decided to automatically send or deposit the payment for social security recipients that don't file tax returns.  If they were required to file even a simple tax return, many would probably not do it and miss out on their payment.

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I agree and didn't understand it.  They should be the easiest since I'm assuming most, if not all, are on direct deposit.  The only thing I could think of is that some might be over the income limit with social security plus other income.  But seems like it would be easier to identify those over the income limit than to have everyone else file a return.  And I really don't even know if that's why they were doing it.  

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@Tadaki If they’re over the income limit, they probably file anyway.

[noodleann]

A friend just sent me a link to a WaPo article that says that SS/SSDI recipients who didn't file taxes in 2018 or 2019 will get the funds without having to file paperwork with the IRS. The Munchie person  spoke about it. The article title is "Social Security recipients who don't usually file tax returns will automatically get $1,200 payments, Treasury says in reversal." The coronavirus coverage is free, so you don't have to worry about the paywall if you want to read it and don't subscribe. It said payments should start going out via direct deposit on the 17, with checks to follow.

The article also says that many high school and college students won't get anything, and families won't get anything for children over 16. But who knows, this may change, too. That's why I said you can't believe what these folks say. It changes from day to day. I'll believe it when it's numbers in my account that translate into groceries and payments to the electric company.