Thursday, April 2, 2020

Treasury Department Reversal: Social Security Recipients Who Don’t Usually File Tax Returns Will Automatically Get $1,200 Payments

I am not a fan of the "print money program and hand it out to everyone in America." It will only cause accelerated price inflation.

But it is particularly perverted to make it difficult for seniors, mostly on SS fixed income, to get their share of the Great Money Pump.

Fortunately, the Treasury has, I guess, come to its senses.

It announced late Wednesday that Social Security beneficiaries who typically do not file a tax return will automatically get the $1,200 payment.

“Social Security recipients who are not typically required to file a tax return need to take no action, and will receive their payment directly to their bank account,” said Treasury Secretary Steve Mnuchin.

The announcement is a reversal from earlier in the week when the Internal Revenue Service said everyone would need to file some sort of tax return in order to qualify for the payments.


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