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Monday, May 29, 2023

The Third Stimulus Check For SSI And SSDI: Making The Cut And Details About Receiving It

The Third Stimulus Check is in the final stages of processing and millions can expect it within days. but there are certain policies for SSDI & SSI recipients and also their dependents. We also look into when you can expect your third stimulus check. And also what you need to do in case you feel that you ought to get more.

The first lot of the third stimulus check with the maximum amount of $1.400 is finally on its way and many can expect it in their hands by Wednesday this week. The first ones to get it will be through direct transfer by the Internal Revenue Service. But beneficiaries under the Supplemental Security Income benefit or the Social Security Disability Insurance scheme will be delayed a little. 

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Some additional and revised rules are the eligibility requirements for dependents and other broad-based changes in the conditions and requirements. We will look into how the third stimulus check weighs against the first two installments of the payment of $1,200 and $600 the government sent out last year in the spring and winter under the previous administration.

If you did not receive SSDI or SSI payments in the past two years, the situation could be a little tricky this year as we are bang in the middle of the tax season. But there are ways that you can claim if you have missed out during the two previous installments. It doesn’t matter if you are not required to file your taxes. We also tell you how when you can expect the third payment. Here is the latest update.

Third Stimulus Check
Third Stimulus Check

How Soon Can One Get The Third Stimulus Check Under The SSI Or SSDI Program?

The Internal Revenue Service said that the exact date when you can expect your social security plus additional remuneration will be out soon. 

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As expected the first installment of the $1,400 third stimulus check will be through direct deposit. The speed with which you receive your payment will depend on the way your payment has been dispatched by the authorities. The direct deposits by way of fund transfer will be the fastest followed by those who receive their payments through preloaded bank cards and paper checks.

If your information is already with the Internal Revenue Service and if you file your taxes, you will naturally receive the third stimulus check earlier. Or if you have filed for Recovery Rebate Credit on your tax returns in 2020, the IRS may use that information in its place if they have processed your claim. The Recovery Rebate Credit is to claim your missing stimulus money in the previous two installments.

The authorities will get through to you to let you know if you are eligible for the checks and also help you in the process.

If you miss out on any part of the third stimulus check, you will receive it in the 2021 tax season, which is a year later. In case the IRS follows the same guidelines as they have done this year, you will need the return to claim it.

The Requirements For The Third Stimulus Check Under The SSDI And SSI Schemes

The American Rescue Plan has just been approved and you have automatically qualified for the $1,400 payment of the third stimulus check if you are under either the SSI or the SSDI scheme. This was also true during the first rounds of payment.

But you received your payment in the initial rounds based solely on your Social Security Number, and someone had not identified you as dependent on their tax returns. Also, to qualify, your income had to be below $75,000 a year for individuals, $112,500 for every household head, and $150,000 if you were married.

But the requirements for the third stimulus checks are a little different. You will receive your payment even if you are an adult dependent. The amount you receive has also been increased. The criteria are also more focused this time. While all those who earn below $75,000 will receive the maximum amount, individuals earning above $80,000 in a year will receive nothing. For married couples, the amounts are $150,000 and $160,000 respectively. So while some will receive more, others earning more than the predetermined amount will be denied this time around.

Others to qualify automatically for the third stimulus check are those receiving Veteran Affairs or Railroad Retirement benefits. 

The Third Stimulus Checks: How Does One Get Them?

The IRS has disclosed that it is in the process of adjusting the rules on how to pay those who accept certain federal benefits.

Recipients under the SSDI and SSI did not receive their payment through the Direct Express card in the first round, though this happens to be the usual government process for sending federal benefits. It was instead distributed through paper checks or non-Direct Express accounts if your details were not available with the tax authorities.

The IRS disclosed that the process was repeated in the second round of the stimulus payments. They added that for federal beneficiaries like those under the Social Security scheme, the third stimulus checks will be sent in the same process by which they receive their regular benefits. The dates will be known soon.

The Third Stimulus Check Will Be Bigger For Dependents

Under the CARES (Coronavirus Aid, Relief, and Economic Security) Act, in the first round of stimulus payments, you received a payment of $500 for every dependent child under the age of 16. And not everyone received the money. It was $600 in the second round.

But for the third stimulus check, dependents in all age groups are eligible for $1,400, including college-age children and adult relatives who are older.

People qualified for the initial two stimulus checks under various criteria weren’t obligated to file tax returns in 2019 or 2019. This included beneficiaries under the SSI, SSDI, Railroad Retirement, and Veteran Affairs benefits and those who receive Social Security retirement. The CARES Act of March 2020 stipulated that the stimulus checks were supposed to come automatically, without filing a tax return.

You might not have received your payment or received a lesser amount because it was withheld by the tax authorities or due to omission. You can now receive the previous amount by claiming it in the 2020 tax returns. It is necessary to file a return with the IRS to claim it. Request a trace in case the money was dispatched but did not reach you.

Third Stimulus Check
Third Stimulus Check

Claiming Missing Stimulus Amount For Dependents

For those who used the Non-Filers tool between 5th May and 15th August 2020, all catch-up payments for dependents should normally have been issued by the IRS back in October. It should have come in the same route as the stimulus payments,

If you have filed for the dependent money on or before 21st November 2020, you would have normally received it by the year-end. Or your check will be added as part of your 2020 return filed in 2021. You need to file a Recovery Rebate Credit. Check the IRS account for updates.

Receiving The Third Stimulus Check For SSDI And SSI Beneficiaries Residing Outside The US.

Social security beneficiaries living outside the country will receive their third stimulus as a paper check even though they receive other benefits in a foreign bank. The process for claiming previous stimulus payments is the same, by claiming it through a tax return for 2020.

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