Here's what Social Security recipients should know about stimulus payments

Millions of Americans can expect to receive stimulus checks in the coming weeks, thanks to the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act.

The checks are intended as a form of relief for those who are facing economic hardship as a result of the coronavirus pandemic, and approximately 90% of Americans will receive them, according to research from the Tax Policy Center.

While the majority of U.S. adults will receive checks, if you're currently collecting Social Security benefits, there are a few things you need to know.

1. Social Security recipients are eligible for a stimulus check

If you're collecting Social Security benefits of any kind -- whether it's retirement benefits, disability benefits, or Supplemental Security Income (SSI) -- you are eligible to receive a stimulus check. However, in order to receive one, you'll also need to meet the other eligibility requirements.

First, you cannot be claimed as a dependent on someone else's tax return. Second, in order to receive the full $1,200 stimulus check, you must have an adjusted gross income of less than $75,000 per year (for individuals), $112,500 per year (for heads of household), or $150,000 per year (for married couples filing jointly). If you're earning more than those limits, you'll either receive a smaller check or no check at all.

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