With inflation in America at an all-time high, seniors and others on a fixed income have been some of the hardest hit by the rising costs of groceries, utilities and fuel. In these tough financial times, many have been holding on to hope that a recent proposal to Congress calling for a new wave of $1,400 stimulus checks specifically for those receiving Social Security payments might be pushed through to the President’s desk. However, it doesn’t appear there’s been any action by Congress to put forth legislation as of yet.
The proposal was the initiative of Rick Delaney, chairman for The Senior Citizens League (the largest national nonpartisan agency for seniors), who first addressed Congress about the idea in October 2021. As he shared in his letter to House and Senate representatives, as GOBankingRates previously reported, Delaney’s rationale stated, “We believe that a special stimulus for Social Security recipients could help defray the higher costs some would face if next year’s [cost-of-living adjustment] bumps them into a higher tax bracket, causing higher tax rates on their income and surcharges to their Medicare Part B premiums.”
Website VERIFY reached out to the Internal Revenue Service, the federal department that issues the checks, to inquire about the status of a fourth round of the Economic Impact Statements. A spokesperson stated that, currently, “There are no further stimulus payments authorized by law.”
Given that the last stimulus checks issued by the government came over a year ago in March 2021, with funds likely depleted for many by now, the latest update isn’t exactly welcome news, even as Social Security benefits were increased by 5.9% in January of this year to account for the higher cost of living standards. That increase has impacted about 70 million retired and disabled citizens (though not all) who count on these payments for monthly living expenses.
To help encourage Congress to act on the proposal for Social Security stimulus checks, TSCL has set up an online petition that anyone impacted can sign. The petition reads, “I (and/or my spouse) want Social Security recipients to receive a $1,400.00 emergency stimulus check to cope during this unprecedented inflationary year. Social Security benefits are one of the few types of income in retirement adjusted for inflation. But soaring inflation has taken a toll on household finances of retired and disabled Social Security recipients. In 2021 Social Security benefits increased by just 1.3 percent raising the average benefit by only about $20 a month. But about 86 percent of Social Security recipients surveyed say their expenses increased by much more than that amount.”
At the same time, FOX News has reported that many seniors have signed up for SNAP benefits amid soaring grocery prices, while reports a probable 11% COLA increase in Social Security benefits to help those on fixed incomes.
To qualify for the Golden State Stimulus Check in 2024, several criteria must be met: Filed your 2020 taxes. Received the California Earned Income Tax Credit (CalEITC). Filed your taxes using an Individual Taxpayer Identification Number (ITIN).
Your Online Account: Securely access your individual IRS account online to view the total of your first, second and third Economic Impact Payment amounts under the “Economic Impact Payment Information” section on the Tax Records page. IRS EIP notices: We mailed these notices to the address we have on file.
The $2600 stimulus check payment provides relief to older generation who are on SSI, SSDI and VA benefits. To overcome the financial obstacles and stimulate economy US government is initiating these stimulus checks.
It provides a one-time $600 state supplementary payment (SSP) grant to SSI seniors and people with disabilities, which will help meet the high costs SSI recipients are struggling to pay during COVID.
Residency: Applicants must be legal residents of California with a valid California address. Social Security Number: Applicants must possess a valid Social Security Number (SSN). Income Limits: The relief checks are primarily targeted at low to moderate-income individuals and families.
Yes. The VA and Treasury announced on April 17 that eligible veterans and survivors who receive Compensation and Pensions (C&P) benefits would automatically receive their individual stimulus payment.
$3600 VA Stimulus Check 2024 is one such program that pays eligible persons with disabilities, Due to a Social Security cost-of-living adjustment (COLA), $3600 in stimulus checks will be provided in April 2024, giving Veterans Affairs (VA) payments a much-needed boost.
Veterans can expect additional benefits in the coming months, thanks to a Social Security cost-of-living adjustment (COLA). The Veterans Affairs (VA) benefits go out on both March 1 and April 1 for February and March. Because of this year's 3.2 percent COLA, beneficiaries can expect a payment of up to $3,600.
No, social security beneficiaries are not getting a stimulus check in 2024. Websites and social media are spreading misinformation about supposed “stimulus checks for seniors” and people are believing them. Don't believe the hype — there's no fourth stimulus going out, to anyone.
Many taxpayers never claimed their 2021 stimulus checks, according to an August 2023 report. But there is still time to claim that payment by filing a tax return and claiming the Recovery Rebate Credit.
“We've seen this claim come up regularly on these websites — that you can get a fourth stimulus check,” Sadeghi says. “It's very in line with the type of content that we see from them, which are hoaxes aimed at generating clicks and getting people to the site.”
Filers with incomes of at least $80,000 (single and married filing separately), $120,000 (head of household) and $160,000 (married filing joint and surviving spouse) will get no payment based on the law.
Meet the California adjusted gross income (CA AGI) limits described in the What you may receive section. Were not eligible to be claimed as a dependent in the 2020 tax year. Were a California resident for six months or more of the 2020 tax year. Are a California resident on the date the payment is issued.
To be eligible for direct deposit, applicants must complete their 2021 tax returns early. The Adjusted Gross Income (AGI) criterion is less than $75,000 for single applicants and $150,000 for couples filing jointly.
It has been confirmed that the states of Michigan and California will get new stimulus checks on May 15,2024. The programs offering guaranteed income will provide qualifying people with direct payments up to $500 and $528, respectively.
California has signed the Golden State Stimulus, which includes $600-$1200 cash payments to eligible residents. Eligibility is based on your 2020 tax return (the one you file in 2021). You will need to file your 2020 California state tax return by October 15, 2021 in order to receive your California stimulus check.
The Government of California added the Golden State Stimulus with the purpose of helping low and middle-income residents and supporting those facing worry because of the pandemic. Furthermore, there are two sorts of Golden State Stimulus – GSS I and GSS II.
To be eligible for GSS II, individuals had to file their 2020 taxes by October 15, 2021, be California residents, and have wages ranging from $0 to $75,000 for the 2020 tax year and a CA AGI ranging from $1 to $75,000 for the 2020 tax year.
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