Social Security and Economic Impact Payments
March 25, 2021
On March 25, 2021, the Commision of Social Security, Andrew Saul, issued an update regarding Social Security's processing of Economic Impact Payments under the American Rescue Plan Act, or ARP.
According to the release, immediate delivery of EIP's has been a top priority for Social Security, especially to those who are the most vulnerable such as those who rely solely on Social Security benefits for survival. The IRS did not have a mechanism that would allow them to automatically identify Supplemental Security Income, or SSI, recipients. These individuals and those receiving Social Security Disability benefits, or SSDIB, are some of the most vulnerable and financially insecure people in America. Accordingly, Social Security worked with Congress to finally allow Social Security to send the IRS a file of all individuals who receive these benefits so that the IRS could automatically issue IEP payments to them.
To meet this end, Social Security has worked tirelessly with the IRS to make sure that those payments go to the correct bank accounts and addresses and that the information is complete and accurate. So, according to this release, those individuals who are receiving SSI payments should automatically receive their EIP, otherwise known as a stimulus check.