Yes, a fourth stimulus check and monthly checks for Social Security, retirement, disability, SSDI survivors, SSI, VA, RRB, low income, low-income seniors, the elderly, and people with disabilities. I have all the details and everything you need to know right here on this topic. as I am your one and only daily advocate and I’m very much dedicated to you and this community to do all the research to break it all down into these short topics and make sure that you’re staying updated with everything going on right now during this very busy time as information continues to change so incredibly fast.
All right, So now this is a big, big topic here that I want to cover and clarify because I do know that there are a lot of you in this community who are living on a small fixed income from those benefits I mentioned at the beginning of the video. As well as I know there are a lot of low-income people here, as well as seniors, elderly people with disabilities, and a lot of really amazing people.
So again, thanks so much for being part of this community. Seriously, there are so many great people here. We’ve got to stick together through this time. And ultimately, it’s only a matter of time until we finally get something really good for us in this community. So either way, I want to shake this all out for you, let you know what is actually going on right now.
And I want to answer some very important questions that some of you have been asking on some previous topics here and break it all down for you, because I know a lot of people are struggling right now and wondering when are we finally going to get some support? Right? When is Congress finally going to do something? Well, these are some really good questions. So anyway, let’s jump into this right now.
So first off, on that previous topic that I just put out a few hours ago, I saw a number of comments on that topic, and I’ve also seen this question coming in over the last few days here on the previous topics. The question comes in something along the lines of and again, this is mentioned and asked in a variety of different ways, but I want to lay it out here for you in a few different ways that I’ve seen this question coming out. So will Social Security be eligible for a fourth stimulus check? SSDI here? Will I get a fourth stimulus check?
When is a fourth stimulus check coming? Low income senior here, living on Social Security retirement, when will we get a fourth stimulus check and will I be qualified now? Also, I’ve also seen other questions coming out asking about monthly checks, guaranteed basic income programs, things like this. Just like what I was talking about in that previous video. By the way, if you haven’t seen that video, I would highly recommend going back and checking that one out as there is some pretty good information in that one.
It is talking about a $1,200 monthly ongoing check for the low income and the fixed income. So check out that video as well. However, other questions coming in saying monthly checks sounds good. I could certainly use some of those SSDI here. Will I get it?
Social Security retirement here? Will I get it? I’m living on SSI. Can I also get the monthly check? So as you can see here, the questions are asked in a variety of different ways.
But I want to answer essentially all of these pretty much in one kind of answer here. So here’s what it comes down to when we talk about these four stimulus checks, monthly checks, guaranteed basic income programs, any types of ongoing monthly payments, any types of one-time, lump-sum payments, things like this. The simple answer is yes, of course, you are absolutely 100% included. Now, here’s the thing. I completely understand.
There are a lot of people here in this community, like I said, living on a fixed income and I totally get it. It feels like we are left out all the time, right. The low income, the fixed income, those people living on the benefits I mentioned throughout this topic, seniors, the elderly, people with disabilities, I totally get it. A lot of times we look at different situations and say, oh, great, they’ve forgotten about us again. What do you know?
Another time that they introduced something, they came up with some great bill, some great proposal, some ongoing monthly check, or something like this. And once again, they completely forgot about us. I totally get it. I’m right here in the community with you. I totally see exactly what you’re talking about.
Right. I know how we feel. A lot of times we’re thinking, oh, another program where they just completely sidestepped us and they forgot about us. They don’t care. Right?
Well, again, we don’t really know what Congress is truly thinking. Honestly, we don’t really know. I don’t really know if we want to know what they’re really thinking. But the point is, when it comes down to any of these programs, these programs are specifically focused on the low income and the fixed income. That is what’s really cool about all of these monthly check programs and proposals out there, as well as all of these fourth stimulus check proposals, as well as these gas stimulus checks that we’ve been talking about for maybe the last month or so Right, We’ve seen multiple of these with all of these different proposals, all of these different packages, all of these different one-time checks or monthly checks, anything like this. They are specifically focused on the low income and the fixed income. Here’s what it comes down to. It’s based on your income.
So essentially, to qualify somebody for any of these one-time payments or for any of these ongoing monthly check programs, they essentially look at your income. So they basically look at what is reported to the IRS Right. So I know that some of you in this community do not file a tax return. That’s okay if you typically not file a tax return.
Again, this is not tax or accounting advice. I don’t know your situation. And I’m not advising you to either file or not file. I’m just saying I do know that some of you in the community here are generally non filers because your income is below the level that would actually indicate that you would need to file a tax return. I totally get it.
But let’s look at it from this point standpoint. If you were somebody who were to file a tax return, whatever your income would be that’s filed and reported to the IRS, that would be the income that they would be going off of. So if you’re a fixed income beneficiary of, say, Social Security retirement and you’re getting let’s just say, for example, $1,000 a month, $12,000 a year, well, by default, you’re probably not filing tax return because your income is below the standard deduction. Therefore, your income is essentially zero on paper Right.
When it comes to the eyes of the IRS, however, we have to look at the income that would be reported to the IRS. That income would be reported to the IRS from the Social Security Administration. But all the parameters coming together, everything coming together, that would be essentially your effective income. But again, I just want to make it all clear here. So that it’s whatever income would be reported to the IRS in the event that you would be filing a tax return, even if you don’t file a tax return, it doesn’t really matter.
Your income is still reported to the IRS. Right. All income is reported to the IRS whether you file a tax return or not. The Social Security Administration and everybody else, they send your income and all your information to the IRS. So anyway, when we look at income and determine who is eligible for this, it’s all strictly based on income.
So maybe you’re low income, maybe you’re no income, maybe you’re a fixed income beneficiary. It simply doesn’t matter when it comes to a one time lump sum payment of a fourth stimulus check, whether it’s $1,400, $2,000, $500, $12,000 doesn’t really matter. Whatever the amount is, that would be agreed upon for a fourth stimulus check. They want to know what your income is. And just like we saw about a year ago, for the last $1,400 stimulus check, what the Social Security Administration did is they sent over that file.
Remember that whole drama situation? We all lived through it. They send over the file Social Security does with all the beneficiaries and all of your information to the IRS. And then they basically just start issuing checks from there based on that file and all the information that they have. So anyway, it’s all based on income.
When it comes down to monthly checks, in the event, a monthly check program is started up on a nationwide program. Again, going back to that video that I just put out a few hours ago, when it comes down to that program, in the event this actually starts up again, they’re going to want to know what is the income for everybody out there? And then that’s going to determine your eligibility for this program. If you’re somebody who can start getting monthly checks on a nationwide program in the event these programs actually do startup, if that’s the case, then they want to go once again, what’s your income? And there you go.
If your income is below the threshold that they’ve identified, which at this point is $75,000 as an individual or $150,000 as a married couple, then again, they’re going to look at your income and say, okay, your income is blank. There you go. You are in within the parameters that they’ve identified. And again, it does not matter if your income comes from a job, if it comes from Social Security retirement or SSI or VA or SSDI benefits, it simply doesn’t matter. Income is literally just income.
Money digits in your bank account. Well, it’s actually not even in your bank account. Digits that are associated with your Social Security number. And then what is reported to the IRS. That’s all it really comes down to.
So anyway, I know there’s a lot of people in this community that are concerned wondering, are they going to forget about us? Again, there they go. Come out with another program and they’ve completely sidestepped us. I know it’s really easy to feel that way a lot of times because it feels that way. And honestly, sometimes it actually does come down to that.
Right. But let me give you one quick example. Now, again, I’ve used this example in previous topics, but I just want to give you this example because this is a perfect example of something that has already happened, something that was already in place, and a perfect example of those people living on a fixed income who already did receive this. Let me lay it out for you. The child tax credit payments from last year.
Now, again, I know a lot of you in this community do not qualify for these. But let me give you this example because this is something that happened. So last year, in the second half of 2021, those child tax credit payments were going out anywhere between $250 and $300 per month, per child on an ongoing basis for six months.
Well, check this out. The low income and the fixed income were also eligible. In fact, you could have had zero income and you still could have gotten these payments. Yes, somebody with zero income still got the checks. Here’s something else that was really cool about this.
It did not count as income. It did not impact your other benefits, and it did not have any negative consequences to anything that you may have been receiving at the time. So that’s pretty cool stuff, right? So again, that’s why this is so important to understand is that in the event a monthly check program goes out like this, it does not impact your benefits. It does not count as income.
And all of these other things. It does not count as resources either. So even somebody who lives on SSI, where you know if you’re living on SSI, your income on a monthly basis is very limited. If you have income over just a handful of dollars every single month, they start garnishing your benefit in a big, big way, right? Well, check this out.
Even those people living on SSI last year, they could receive the child tax credit payments. You could have gotten, let’s just say, for example, last year, $794 a month from SSI, and you could have gotten, say $750 a month from the child tax credit payments or $1,000 a month from the child tax credit payments. And it had no impact to your SSI. Pretty amazing stuff, right? Yeah.
That’s why these programs are so powerful. Anyway, I hope this answers the questions for you. For those of you who are interested and curious to know about your fixed-income benefits or the low income, the fixed income seniors, the elderly, people with disabilities, everybody right here in this community. Like I’ve always said before, I’m here for you in any way that I possibly can be. I’m here to answer all the questions.
I’m here to break it all down. I’m here to do all the research and make sure that you’re staying updated with everything going on for you. I’ve seen this question coming up time and time again. And like I’ve said in previous topics, anytime that I see the same questions coming up or similar questions coming up, like what I laid out earlier in this topic, I like to come back and make a dedicated topic, break it all down for you, let you know what’s going on, and to make sure that everybody is within the same understanding of what is out there right now so that all of us are on the same page with everything. So again, if you need any further clarification, please leave some questions and comments down below.
I do my best to read as many comments as possible each and every day, as well as answer as many as possible. And if I need to come back and make another dedicated topic and clarify this, that’s totally fine. I can do that. I’m here to help you out in any way that I possibly can.
Things are changing very rapidly right now. But I’m on your team. We are all here together in this community. It’s an amazing community. A lot of really great people here and I’m just so excited to have you here and I’m so excited to be here for you in any way that I can be.
We just got to stick through this and eventually there will be something for the low income and the fixed income. Anyway, please enjoy your day. Let me know your questions and comments down below. Enjoy your day and I’ll catch you again later in the next one and I hope this one helps you in any way possible. All right, I’ll catch you again later Enjoy.