Senior Scam Update – Stimulus Payments
Last week, the FTC announced 18,235 reports of scams associated with Covid-19 since January 1, 2020. People have already been scammed out of over $13 million. The IRS began issuing stimulus payments to individuals due to the economic strain of the Coronavirus pandemic last week. Most seniors will not need to take any action to receive payment. Persons who receive Social Security benefits, VA benefits, SSDI, Railroad Retirement Benefits, and SSI will receive the payment automatically. If a beneficiary needs to claim a minor below 17 years of age, however, they will need to separately request the $500 dependent credit. The IRS website allows certain individuals to check on the status of payment, or submit updated information (like new bank account information). The only place any information should be entered is on the actual IRS website: https://www.irs.gov/coronavirus/economic-impact- payments. The IRS is trying to get payments out to everyone eligible. Do not fall for scams that promise to help you get faster payment. Do not pay anyone to help you...
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