Social Security and the 'economic impact payments' related to the coronavirus pandemic

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According to a news release, the Department of the Treasury has confirmed that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive the economic impact payment related to the novel coronavirus pandemic.

The IRS will use the information on the Form SSA-1099 to generate $1,200 economic impact payments to Social Security beneficiaries who did not file tax returns in 2018 or 2019.

For more information, go to https://www.ssa.gov/news/press/releases/.