Yes those on Social Security do quality. There are income limits. $1200 per individual up to $75,000/yr then goes down until $99,000 (do checks above that income) double for mariied filing joint.
You MUST have filed a 1040 last year or this. If you have not file today. If you do not owe, you will have to print it out and mail it in...so do not wait. (Efile is not allowed for zero balance returns)
Checks are also serving as economic stimulus.
This post was edited by my2cents at March 28, 2020 10:23 AM MDT
You know m2c when we retired years ago we went to our local Senior Citizens Center (the Janet Goeske Center) in Riverside thinking we had to file tax returns. The CPA there said we didn't. Subsequently I found out that IN ADDITION to your social security you are allowed to earn more income up to a limit and it will not be taxed. That limit I think is about $12,000 a year by now and we don't get anything near that from our small investments. So we haven't filed a tax return which means we aren't eligible. That's good because I can't figger out what job we lost and income we lost to justify it. Thank you for your very helpful reply! :)
Fair enough if you do not want it. But IF you do file a 1040 via mail. Look at it as helping the economy or give it to someone who you know was hurt by this disease.
We don't need it m2c. So far our financial situation hasn't changed. Out small investments are not tied to the stock market so what happened there has nothing to do with us. I appreciate the info.:)
If you make less that 199,000 annually (jointly) you qualify. Make sure you file a return 1040 if you do not normally. Also do it now as you will have to mail it in. No E-file if not tax due or no refund.
my2cents 