Coronavirus

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  • Thu, Mar 26, 2020 1:18 PM

    Looks like we’ll be getting $2900....which is exactly half of our total vacation payment and we’ve paid $2900 and we’re too late trying to get insurance. Supposed to go June 1st to the beach.....so that $2900 will go back into our savings I guess. I’ll take it.

    Thu, Mar 26, 2020 1:21 PM

    Not getting shit, gf will get $1200 though. So practically next month's rent, which is nice.

    I missed the details, how exactly will we get this? Based on your 2019 tax return and they mail it?

    Thu, Mar 26, 2020 1:29 PM
    posted by Automatik

    Not getting shit, gf will get $1200 though. So practically next month's rent, which is nice.

    I missed the details, how exactly will we get this? Based on your 2019 tax return and they mail it?

    Direct deposit....be late April getting it. 
     

    unemployed can get $600 a week extra for up to 4 months

    Thu, Mar 26, 2020 1:46 PM

    What are the parameters as far as income goes?

    My wife and I file jointly and haven't filed 2019 yet.

    Thu, Mar 26, 2020 1:50 PM
    posted by justincredible

    What are the parameters as far as income goes?

    My wife and I file jointly and haven't filed 2019 yet.

    I believe they go by 18s return if you haven’t filed for 19 yet. 150k joint I think for income. 

    Thu, Mar 26, 2020 1:53 PM
    posted by justincredible

    What are the parameters as far as income goes?

    My wife and I file jointly and haven't filed 2019 yet.

    From an article linked to on Yahoo: Where I'd guess that you'd get $2400 unless you two combine for over $150K...unless I'm not mentally computing something or reading something incorrectly.

    The payments will be based on tax returns from 2019 or 2018. Generally speaking, individuals with an adjusted gross income up to $75,000 will get $1,200 checks, or $2,400 for couples earning up to $150,000. Couples and "head of household" single parents will also get $500 per child. The checks taper off up to $99,000 in income per individual and $198,000 for joint filers with no children. The Washington Post has a calculator for estimating how much money your check should contain.

    About 125 million people, or 83 percent of tax filers, will get checks, says Kyle Pomerleau at the American Enterprise Institute. "The main people excluded from receiving a payment are: the wealthy, nonresident aliens (i.e. foreigners who do not hold a green card), and 'dependents' who can be claimed on someone else’s tax return.," the Post reports.

    Many Americans won't actually get a paper check. The first people to get funds from the program will be those who have direct deposit information on file with the Internal Revenue Service from 2019 returns, filed this year, or 2018 returns. If the IRS does not have your direct deposit information, it will send a check to the mailing address it has on file. "People who don't pay taxes, such as those with very low incomes, may be hard to reach the way the program is designed," Politico notes.

    "The last time the U.S. government did anything like this, back in 2008," the Post reports, "the payments went out in batches and it took about eight weeks for the final people to receive their checks."

    Thu, Mar 26, 2020 2:01 PM

    Gracias.

    Thu, Mar 26, 2020 2:02 PM
    posted by Ironman92

    Direct deposit....be late April getting it. 
     

    unemployed can get $600 a week extra for up to 4 months

    But how do they initiate or know where to direct deposit? From where you filed your return, ie. Turbotax?

    Thu, Mar 26, 2020 2:12 PM

    Well that sucks. Won’t get the extra $500 for our son who is 11mo, because he wasn’t born when we filed ‘18, and ‘19 hasn’t been filed yet.

    Thu, Mar 26, 2020 2:25 PM
    posted by Automatik

    But how do they initiate or know where to direct deposit? From where you filed your return, ie. Turbotax?

    The IRS keeps all that info. They will use whatever they have on file for you. 

    Thu, Mar 26, 2020 2:46 PM

    Thu, Mar 26, 2020 3:32 PM

    I have heard from people.

    Great people.

    The best people in the history of the world that the corona virus has almost killed as many people as the police did last year

    Thu, Mar 26, 2020 3:33 PM
    posted by justincredible

    Saw this in tweet form this morning:

    What do you plan to buy with your relief check, and in what caliber?


    Pay off the wife’s car. No more car payments for us then👍🏼

    Thu, Mar 26, 2020 3:38 PM
    posted by Automatik

    But how do they initiate or know where to direct deposit? From where you filed your return, ie. Turbotax?

     

     

    If you had a refund direct deposited on the ’18 or ’19 return, they will use that, otherwise you get a check.  I think you get a letter first, so if your bank/account changed, you can let them know beforehand. We’ll see how all this goes…………you know, BIG government.

    Thu, Mar 26, 2020 3:45 PM
    posted by QuakerOats

     

     

    If you had a refund direct deposited on the ’18 or ’19 return, they will use that, otherwise you get a check.  I think you get a letter first, so if your bank/account changed, you can let them know beforehand. We’ll see how all this goes…………you know, BIG government.

    NBC News article says they have 15 days to notify each person how the money will be coming. It also says the money is not taxable. We’ll see about that. 

    Thu, Mar 26, 2020 3:48 PM

    Good to see it is finally passed and will help some folks. My wife and I filed jointly and we don't have kids. But, we are just going to throw it into our savings for our eventual move back to the OH. 

    Thu, Mar 26, 2020 4:18 PM

    20 year old me. sack of herbs. new js. some 12s for the car and a whole lotta fun. 

    40 year old me. half toward 2 credit cards which just about zeroes them out. replace food rest in bank 

    Thu, Mar 26, 2020 4:27 PM
    posted by wildcats20

    NBC News article says they have 15 days to notify each person how the money will be coming. It also says the money is not taxable. We’ll see about that. 

    not taxable on the front end.....but back end, I bet they 1099 your ass as income next year.

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