Seniors may have to give back $250 stimulus payment
Everyone is waiting for the one-time $250 economic stimulus payment from Social Security. However, some seniors may have to give the money back!
Social Security beneficiaries received notices last month that they soon will be getting a $250 check courtesy of President Obama’s economic recovery package, but the administration did not say that some recipients may have to give part of it back.
The problem: Seniors who also work and qualify for Mr. Obama’s $400 Making Work Pay middle-class tax cuts may find themselves forced to give back some or all of the Social Security bonus come tax-filing time in 2010.
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The one-time payments that will be …
Watch out for Social Security stimulus scams!
Timegoesby has a post up about scams popping up to scam you out of your Social Security stimulus payments.
Scam artists saw an opening and immediately began targeting consumers, including elders, to “help them qualify” for the payments. By email and on websites with official-sounding names, these criminals ask for payment or personal information including names, addresses, bank and credit card account numbers, etc. to do the paperwork for payment of the stimulus check.
These swindles are so widespread that the Federal Trade Commission, on 3 March, issued a warning which you can read at the FTC website.
Here is more information from that FTC warning:
Social Security Stimulus: are children eligible?
I was recently asked if children who receive Social Security benefits are eligible for the one time $250 economic recovery stimulus payment.
Originally, it looked like the answer was “no.” When this article was written in March 2009, the SSA FAQ said the following.
Question: Are children who receive Social Security benefits eligible for the one-time economic recovery payment?
Answer: No, children under the age of 18 (19 if still in high school) who receive Social Security benefits are NOT eligible for the one-time payment. However, disabled adult children will receive a payment.
However, it was pointed out to me that children on Supplemental Security Income (SSI) are eligible for the economic recovery stimulus payment.
Question: Are children who …
What is Social Security doing with the Economic Stimulus?
What is Social Security doing with its share of the economic stimulus? Building a huge data center, of course!
Using a hefty down payment from the newly signed economic stimulus law, the Social Security Administration has embarked on a $750 million project to replace its outmoded National Computer Center.
The agency received a total of $1 billion in the stimulus, with half to go toward the computer project and half for reducing a huge backlog in processing disability claims.
The injection of funds could result in hiring 5,000 to 6,000 workers in Baltimore and around the country, Michael J. Astrue, the commissioner of the Social Security Administration, said in an interview yesterday.
Read the entire article …
Social Security stimulus payments coming in May
You may have already heard that part of the Obama’s stimulus package is a one time payment to recipients of Social Security.
The payment will be $250 and it was just revealed that everyone entitled to receive a payment should have it by late May 2009.
Social Security also revealed that if you are eligible for the one time payment, there is nothing you need to do. Social Security will automatically send you the payment.
