AARP Article on Stimulus payment

Discussion in 'Chit Chat' started by TwoCatDoctors, Mar 16, 2009.

  1. TwoCatDoctors

    TwoCatDoctors New Member


    The check is almost in the mail. Barely three months from now, in May, retirees and other Social Security beneficiaries will get an extra $250 per person from Uncle Sam, as part of the economic stimulus bill signed into law on Tuesday.

    The so-called senior payment—$250 for individuals, $500 for couples who both receive some Social Security benefit—will go to retirees, older veterans, SSI (Supplemental Security Income) beneficiaries, and people with disabilities.

    Recipients won’t have to fill out a tax form or do anything—unlike the stimulus rebate of 2008. They just wait for the money to show up. They’ll get the money the same way they get Social Security—either through direct deposit or a check in the mail.

    Federal and state retirees who don’t receive Social Security benefits also will qualify to receive the payment but may have to file 2009 tax returns to receive it.

    The $250 senior payment was never included in the House-authored draft of the stimulus package approved in late January; it wound up in the Senate bill after being proposed by Max Baucus, D-Mont., chairman of the powerful Senate Finance Committee. The provision also was strongly promoted by Sen. Sheldon Whitehouse, D-R.I.

    AARP supported the measure early on. In a letter to lawmakers, the association argued that many retirees would be ineligible for workers’ tax credits but were in need of hardship relief. It cited research showing that older people tend to spend such payments “immediately.”

  2. sisland

    sisland New Member

    For posting this information!,,,nice to hear!,,,sis

    BILLCAMO New Member

    I hope this is true !

    95% of the last stimulus check I got , I used it to get caught up a little bit. 4% I used to pay current bills. 1% I blew on a pack of gum. ;>) LOL

    Oops , I forgot the part where I spent .001% on looking at pix of private jet liners & limos.

    Granted , my total is more than 100%.......But , I was closer than our government....:>) ROFL

    Blessings ,

    [<i>This Message was Edited on 03/16/2009</i>]
    [This Message was Edited on 03/16/2009]
  4. TwoCatDoctors

    TwoCatDoctors New Member

    Remember when you filled out the tax forms to get your prior 2008 stimulus payments, well my friend already filed taxes, got them bumped (both state and federal) and was told that the prior stimulus payments were not free and are to be considered in filing taxes this time. They are to be included on your 2008 income tax return as income tax refunds. SO, you will get hit with that on your 2008 taxes.
  5. Mikie

    Mikie Moderator

    Thank you for posting this. Fortunately, for most of us, the stimulus payment in 2008 will not cause us to pay taxes. I'll personally be glad to see the money. I need a new hot water heater and, while this will not pay for the whole shebang, it will certainly help. Loooooove my hot showers and Epsom Salt soaks.

    Love, Mikie
  6. sisland

    sisland New Member

    is just a one time payment right?,,,Thought i heard that eventually the amount would be added to our checks every month,,,,wouldn't that be nice!,,,,,,250.00 is alot of money to me and i'm sure to others on disability and regular forms of SS,,,,Sis
  7. gapsych

    gapsych New Member

    Does this apply to private disability? It sounds like maybe it doesn't?

    I get my disability from the Illinois State Teacher Retirement Fund.

    Unfortunately, I make about $600 too much to get a break on my taxes, but it is only fair that people making less should not have to pay as much.

    You can't win. If I get this, it will probably go towards my 2007 taxes which I am paying off monthly.


  8. TwoCatDoctors

    TwoCatDoctors New Member

    (1) This is a ONE TIME ONLY stimulus payment and IS NOT MONTHLY like the COLA (cost of living adjustment) from SSA.

    (2) This does not apply to private disability payments and applies only to payments received from the government's Social Security Administration (to those on Social Security or Social Security Disability).

    (3) I do not know for sure how it will impact anyone receiving survivor's benefits from Social Security. I assume they will also receive the stimulus payment because they are receiving the Social Security benefits from a deceased relative.

    (4) Federal and state retirees who don’t receive Social Security benefits also will qualify to receive the payment but may have to file 2009 tax returns to receive it.

    [This Message was Edited on 03/17/2009]
  9. sisland

    sisland New Member

    Thanks again for the info!,,,,This will be a welcome!

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