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Monday, March 9, 2009

The Economic Recovery Payment

A one-time payment of $250 will be made in 2009 to:

  • Retirees, disabled individuals and Supplemental Security Income (SSI) recipients receiving benefits from the Social Security Administration.
  • Disabled veterans receiving benefits from the U.S. Department of Veterans Affairs.
  • Railroad Retirement beneficiaries.

The IRS will not make this payment — unlike last year's economic stimulus program. Individuals who may qualify for this year's economic recovery payment should contact their respective agency for more information.

The Social Security Administration Web site has a special section on the economic recovery payment.

The economic recovery payment will be a reduction to any Making Work Pay credit for which the recipient qualifies. The Making Work Pay credit will be claimed on the recipient's 2009 tax return filed in 2010.

Return to Tax Provisions in the American Recovery and Reinvestment Act of 2009.

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