Many Retirees get to Double Dip?
I know what this BankRate piece says, but I find it hard to believe that they would allow some retirees to claim both checks.
Stimulus tax payout small (Page 2 of 2)
What if you don't get a paycheck? You still might be eligible for a $250 credit.
The new law says that amount will go to individuals receiving certain Social Security, Supplemental Security Income, Railroad Retirement benefits and veterans' benefits. This money will be sent out as a separate check.
The logistics for distributing the $250 payments have not yet been announced. The assumption, however, is that the IRS will follow a plan similar to the 2008 stimulus payments.
Many retirees work part-time to supplement their government benefits. In these cases, older workers will not get both the full $400 Making Work Pay credit and the $250 payment. Any payments received for Social Security or similar benefits will reduce the payroll credit amounts a worker gets, tax analyst Luscombe
Part-Owner of Texas
Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.