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re: Calculate your COVID-19 stimulus check amount
Posted on 3/26/20 at 1:39 pm to elposter
Posted on 3/26/20 at 1:39 pm to elposter
quote:
$0 is what I will get. Even though my company just cut my pay by 20% and it's probably 50/50 that I'm furloughed for a couple of months or more soon.
These checks are advance credits for the 2020 season so if you end up entitled to it based on 2020 salary you will get it next tax season. If you are qualified under 2018/19 but not during 2020 you may have to pay it back.
2
Posted on 3/26/20 at 1:43 pm to Dawgfanman
quote:
These checks are advance credits for the 2020 season so if you end up entitled to it based on 2020 salary you will get it next tax season. If you are qualified under 2018/19 but not during 2020 you may have to pay it back.
Forbes article I just read said that the way the bill is written you likely won't have to pay it back in that circumstance.
This post was edited on 3/26/20 at 1:49 pm
Posted on 3/26/20 at 1:50 pm to Dawgfanman
quote:
If you are qualified under 2018/19 but not during 2020 you may have to pay it back.
I need RiseUpATL back up in here. I understood it to mean that everyone would get a 2020 tax credit of $1200/adult and $500/child, and if you met the income limits, you get it immediately rather than having to file it later.
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