Who will receive a one-time payment of $255 from Social Security?

Social Security will make one-time payments of $255. Approximately 65 million Americans will benefit from Social Security. Here, we expla...

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  • Social Security will make one-time payments of $255.
  • Approximately 65 million Americans will benefit from Social Security.
  • Here, we explain who is eligible to receive this payment and how to request it.

Recipients can benefit from a one-time payment of $255 from Social Security. Most people see Social Security as a way to receive monthly payments once they retire. It is a government benefit that millions of people in the country use when they reach old age. However, it also offers other types of assistance.

The compensation includes child and spouse benefits and payments to survivors of workers. But how many people benefit from this? About 65 million Americans benefit from Social Security, but there is a way to get a one-time payment of $255. We explain who are eligible and how to request it.

What is the one-time payment of $255?

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Photo: Twitter

The one-time Social Security payment of $255 is paid to a relative of a person who has passed away. The Sun explains that this balloon payment is part of survivor benefits. While this payment is only made one time, other benefits are available when a qualifying family member dies.

The amount of money from the benefits will depend on how much and for how long the person who died contributed to Social Security. Survivors must request this lump sum within two years of the beneficiary’s death.

Who is eligible to receive this money?

single payment
Photo: Shutterstock

In most cases, the balloon payment is given to the spouse of the beneficiary who died as long as they lived together. However, according to the Social Security Administration (SSA), the one-time payment can also be given to the spouse who does not live in the same household if he or she is, “receiving certain Social Security benefits on the deceased’s record.”

But what happens in the event that the deceased does not have a spouse? According to the agency, if there is no spouse, the one-time payment of $255 will be sent to the child listed on the deceased person’s record during the month of death.

How to claim the payment?

single payment social security
Photo: Shutterstock

Those who qualify for this lump sum should apply for survivor benefits by calling the SSA at 1-800-772-1213. They can also visit the local Social Security office. One cannot apply for the survivor benefit through the Social Security website.

However, Social Security recipients in 13 states in the United States could lose some of their benefits. This could be due to the high federal or state taxes they have to comply with. Federal and state taxes end up dramatically affecting beneficiary income in some US states.

Social Security beneficiaries in 13 states could lose some of their benefits

Social Security beneficiaries in 13 states could lose some payments
Photo: GettyImages

What are the 13 states where Social Security checks would be at risk? Right now, they are Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Dakota, Rhode Island, Utah, Vermont, and West Virginia.

Why? It is because in these jurisdictions, taxes are applied on monthly payments. But seniors in these states do not necessarily have to pay taxes. It depends on how much money they receive from the Social Security program and what other income they have. So, adjusted gross income (AGI) is crucial.

Ask before you lose your check

Social Security beneficiaries in 13 states could lose some payments
Photo: archive

In Kansas, if a Social Security beneficiary reports an adjusted gross income (AGI) of less than $75,000, then he or she is exempt from paying taxes in the state. The recommendation is to check with the local Department of Revenue to confirm whether they should pay taxes on social security payments.

Something similar happens in the case of federal taxes. If an individual has provisional income greater than $25,000 or if a couple has provisional income greater than $32,000, then they will have to pay taxes, but only on up to 50% of what you receive from Social Security.

Taxes on insurance checks

Social Security beneficiaries in 13 states could lose some payments
PHOTO Shutterstock

On the other hand, if an individual has provisional income greater than $34,000 or if a couple has provisional income greater than $44,000, then they will have to pay taxes, but only on up to 85% of the checks you receive from Social Security.

Don’t be in doubt. If you want to know if taxes will “eat” your Social Security check, go to the SSA website and use the specific formula they offer to calculate how much you actually owe.

Can Social Security beneficiaries wait for a fourth check?

Social Security beneficiaries in 13 states could lose some payments
PHOTO Shutterstock

Even after the federal government approved three economic stimulus checks as aid during the pandemic, some continue to insist that they distribute a fourth round, but can Social Security recipients expect a fourth check?

2021 is coming to an end, and citizens are unlikely to receive further economic stimulus for the remainder of the year. However, a nonpartisan group is under pressure to consider passing a bill offering direct aid to the elderly.

A fourth check?

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By 2019, nearly 5 million people over the age of 65 were living in poverty, according to data provided by the Congressional Research Service. The pandemic only deepened the dramatic situation experienced by many elderly people in the United States.

In light of this, the nonpartisan organization Senior Citizens League decided to take action and has been insisting that a fourth check be issued to the elderly. For this, they sent members of the House and Senate a letter asking them to consider a new payment for these people specifically.

How much money are the asking for the elderly?

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The petition, which already has 75,000 signatures, raises the issue of the needs of grandparents in the United States and exposes the need for additional financial assistance that will allow them to pay for their basic requirements, put food on their table, and simply survive.

The emergency stimulus check requested by the Senior Citizens League for Social Security beneficiaries is for $1,400. This money would even allow them to cope with the increased costs of health care that they especially need because of their age.

The rise was left behind

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By 2021, the SSA granted program beneficiaries a 1.3% increase, equivalent to about $20 a month, The Sun stated. But the SSA has already approved plans for 2021 that include increasing monthly payments with the idea of ​​trying to offset the high cost of living.

They are forecasting a 5.9% increase in benefits by January 2022, the largest increase in 40 years. Retirees, for example, will go from receiving $1,565 per month, which is what they currently get, to receiving a check for $1,657 per month.

The post Who will receive a one-time payment of $255 from Social Security? appeared first on MundoHispanico.

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