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Saturday, February 4, 2023

Social Security Payments Assume Importance In Absence Of Stimulus Checks: Check The December Payment Dates

The first of the two December payments of the Supplemental Security Income has been paid as eligible recipients received the initial payment of $841. The second payment of $914 is scheduled on December 30 for a total of $1,755 for this month. The amount assumes significance as the stimulus checks remain scarce. This was revealed by the Social Security Administration. The later installment of December payments is higher than the first as they have been an increase in 2023.

Amid this record inflation, beneficiaries of Social Security are set to get a record increase of 8.7% in benefits for 2023. This will work out to be the highest increase in over 40 years and is set to partially offset the lack of stimulus checks in 2022 and 2023. The change in the percentage of increase was revealed by the Social Security Administration on October 13 this year. the benefits will work out to over $140 per month on overage and will start to form the January payments next year.

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The increase is in response to the annual increase in the cost of living, which has reached record levels surpassing figures of the past 4 decades. The adjustments will to some extent keep up with inflation.

 December is one of the three months in the year for people to receive two installments of the Supplemental Security Income payments. The only other months where two installments are sent to beneficiaries are September and April.

The double payments are to offset for the months when beneficiaries receive no payment and this ensures that people receive a total of 12 payments every year as per the laid out schedule. The months when no Supplemental Security Income is sent include January, May, and October.

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For eligible couples, the payments are combined with stimulus checks for joint filers. They will receive two payments of $1,261 and that amount will increase in 2023 to $1,371.for essential persons, who are people who live with a person receiving Supplemental Security Income to provide care and security, the payment is $421 and $458 at the end of the month. They will be paid on the same days as the SSI.

Stimulus Check
Stimulus Check

The monthly Supplemental Security Income payments are issued by the Social Security Administration on all business days that are before months being on holiday or weekends. This ensures that recipients get the stimulus checks by the first day of the month, revealed the agency. As January 1, 2023, comes on a weekend and is also a holiday, the payment is being given a day earlier. This double payment will also occur in March, June, September, and December 2023.

Getting The SSI Amounts

The Social Security Administration has said that a citizen will generally need to produce the following documents to get the payments. The first is the birth certificate that shows that the potential beneficiary was born in the US. also acceptable is a religious record of baptism or birth that shows that the place of birth of the claimant is indeed America. The third is a naturalization certificate, a US passport, or a passport card.

And finally, for current immigrants, the documents they will need are a record of permanent residency which is the Permanent Resident Card (I-551), and the I-94 (a record of arrival and departure). Aliens who have served in the US Armed Forces may have to submit their military discharge papers (form DD-214).

Stimulus Checks In December

Residents in some US states could get an additional holiday gift payment this month in the form of a stimulus check. close to half the states in the US have sent some form of a stimulus check to their residents. While some have been direct account transfers, others have received paper stimulus checks through the US Postal Service or as tax rebates, a lot of it as an advance against income tax returns.

Most states have already completed their payments by the third quarter of 2022. But some states have continued with their payments into December. California for instance started with their stimulus only on October 7 and is expected to continue with the payments into January next year.

This has especially helped qualified residents who have extra expenses to look forward to for the end of the year and during the holiday season. Here are the states that are sending stimulus checks in December and the details of the payments.

The California Stimulus Check Is The Biggest Of Them All

The California Middle-Class Tax Rebate is going out to residents who have filed their income tax returns for 2020 by October 15, 2021. They must also have an Adjusted Gross Income in the state that is less than $250,000 for individuals and double that for married couples filing jointly.

They must also not be claimed as a dependent on the income tax 2020 returns of another filer and finally must be a resident of the state for at least 6 months in 2020, the tax year.

Millions of residents of the Golden State have already received their stimulus checks starting October 7, 2022. The initial payments went out to out to people who received either of the Golden State Stimulus check (I or II) through direct bank transfers.

stimulus check
stimulus check

Those who have filed their income tax returns for 2020 through paper returns, should expect their payments through a debit card. Also, people who have changed their bank or even their bank account after their filed their state income tax return 2020 will get a debit card issued between December 17, 2022, and January 14, 2023.

Residents of Colorado over the age of 18 years and who filed their state income tax return for 2021 or at least applied for a state property tax, rent, heat, credit rebate (PTC Rebate) will get a cashback payment in 2022 which will be worth at least $750 for single filers and double that for married couples filing jointly.

Those who filed their Colorado tax return or even applied for the PTC rebate by June 30 this year got their payments by September 2022. If you applied for an extension on filing your 2021 state returns and were granted it and filed by October 17 this year, your stimulus check will arrive by January next year.

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