BUFFALO, N.Y. (WKBW) — It's an answer to a major question we've been receiving from members of the Western New York community.
On Thursday, Rep. Brian Higgins announced seniors will now receive automatic COVID-19 stimulus payments. This move reverses course on previous mandates which required seniors to fill-out an abbreviated tax return to receive the COVID-19 relief payment.
According to a news release issued by Rep. Higgins' office:
"IRS guidance issued on March 30, 2020 directed that, “People who typically do not file a tax return will need to file a simple tax return to receive an economic impact payment. Low-income taxpayers, senior citizens, Social Security recipients, some veterans and individuals with disabilities who are otherwise not required to file a tax return will not owe tax.”
On April 1, 2020 the U.S. Treasury announced it would no longer require Social Security beneficiaries to file an abbreviated tax return to receive an Economic Impact Payment. Instead, payments will be automatically deposited into their bank accounts.
The Coronavirus Aid, Relief and Economic Security (CARES) Act, authorizes a one-time automatic payment to most Americans. The IRS will issue a $1,200 payment to every eligible adult ($2,400 for joint filers), plus an additional $500 per dependent child under 17. These payments gradually decrease for people with incomes exceeding $75,000, $112,500 for head of households, or $150,000 for joint filers.