STIMULUS PAYMENTS HAVE STARTED

STIMULUS PAYMENTS HAVE STARTED

APRIL 15, 2020: As of today, retirees have begun receiving their one-time stimulus payments that were part of the $2 trillion dollar package passed by Congress in late March. Those retirees with direct deposit on file with either the IRS or the Social Security Administration started seeing their payments show up this week in their accounts.

Stimulus payments will continue to be made over the coming weeks by the federal government.

Retirees who have an income of less than $75,000 for individuals, $112,500 for head of household and $150,000 for married couples are eligible for a one-time payment of $1200 per individual. Eligibility was verified by using the 2018 or 2019 tax return information or, for those who do not file taxes but receive social security, information from the Social Security Administration. For those retirees whose eligibility was verified through these processes their payments were sent either by direct deposit to the bank accounts on file or will be mailed a paper check to the address on file. It should be noted that the rebates are not subject to any tax liabilities.

To be clear, all public retirees are now eligible for the federal stimulus based on the income guidelines described above. The guidelines described within the May edition of The Voice are now incorrect. Fortunately, the eligibility rules were broadened after the newsletter was published in March. Due to the work of Congressman Richard Neal, all public retirees are eligible for the stimulus regardless of their tax filing or Social Security status.

While all retirees who meet the income eligibility guidelines will receive a cash rebate, some retirees are not required to file federal taxes nor receive social security and therefore have no record with the federal government. For those retirees the IRS has set up an online portal to sign up with direct deposit information. Retirees can access the link to input their information here. https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here

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