GN 02821.001 Effect of the Economic Stimulus Act of 2008 on SSI Income and Resources
Public Law 110-185
The “Economic Stimulus Act of 2008” provided tax rebates to eligible taxpayers who filed an individual (or joint) tax return for 2007 or 2008. The payments were issued beginning in May 2008.
B. Policy on who was eligible for the stimulus payment
Individuals (or couples) who filed a 2007 or 2008 tax return were eligible for the stimulus payment of up to $600 per taxpayer ($1200 for a joint tax return) and $300 for each dependent minor child in the household.
C. How to treat stimulus payment for income purposes
Exclude the stimulus payment from countable income.
D. How to treat the stimulus payment for resource purposes
Exclude the stimulus payment from countable resources for 2 months following the month of receipt.
Mr. Jones received a $600 stimulus payment in May 2008. He deposited the money in his bank account. We excluded the payment from resources for June 2008 and July 2008. Since Mr. Jones still had the money in his account on August 1, 2008, we counted it as a resource for SSI purposes.
E. How to apply the stimulus payment exclusion for SSI income purposes
If the individual alleges receiving a stimulus payment, exclude the payment from income in the month it was received.
F. How to apply the stimulus payment exclusion for SSI resource purposes
Exclude the stimulus payment for 2 months following the month of receipt. If the stimulus payment money is retained into the third month following the month of receipt, count the payment as a resource.
G. How to document receipt of the stimulus payment
Accept the individual’s allegation that they received a stimulus payment. Document the allegation on the Report of Contact (DROC) screen in MSSICS and lock the DROC.