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Started By
Message
Changes to upcoming stimulus - Hard Cap
Posted on 3/3/21 at 7:57 pm
Posted on 3/3/21 at 7:57 pm
Just FYI:
“Democrats are lowering the income caps for the $1,400 stimulus checks, here are the phase-out levels:
-$75,000 for single filers; capped at $80,000
-$112,500 for heads of households; capped at $120,000
-$150,000 for joint filers; capped at $160,000”
LINK
First I’ve read that there will not be phasing out.
“Democrats are lowering the income caps for the $1,400 stimulus checks, here are the phase-out levels:
-$75,000 for single filers; capped at $80,000
-$112,500 for heads of households; capped at $120,000
-$150,000 for joint filers; capped at $160,000”
LINK
First I’ve read that there will not be phasing out.
12
Posted on 3/3/21 at 8:16 pm to Brobocop
That's a pretty tight cut off. Doesn't really make much sense but it is the government.
Posted on 3/3/21 at 8:18 pm to fallguy_1978
quote:
That's a pretty tight cut off. Doesn't really make much sense but it is the government.
There's a couple of other deductions/credits that have pretty aggressive phase out. Student loans are one I can think of off the top of my head.
Posted on 3/3/21 at 8:18 pm to Brobocop
So I’m assuming it’s based off 2020 taxes now?
Maybe I should’ve waited to file.
Maybe I should’ve waited to file.
This post was edited on 3/3/21 at 8:20 pm
Posted on 3/3/21 at 8:21 pm to Brobocop
That would be based off AGI, correct?
Posted on 3/3/21 at 8:31 pm to Brobocop
Kind of a tight window for a phase out- what’s the point?
Posted on 3/3/21 at 8:43 pm to Lazy But Talented
quote:yes.
So I’m assuming it’s based off 2020 taxes now?
quote:Lol yes, every article has been singing that.
Maybe I should’ve waited to file.
Posted on 3/3/21 at 8:44 pm to Lazy But Talented
quote:
So I’m assuming it’s based off 2020 taxes now? Maybe I should’ve waited to file.
So glad I filed early. Under 2019 taxes no check. 2020, will get one. Not that it’s good I made less...
Posted on 3/3/21 at 8:56 pm to Brobocop
I love that I will have to pay for this but get none of it.
Posted on 3/3/21 at 8:58 pm to Sho Nuff
quote:
I love that I will have to pay for this but get none of it.
Think of it as an unplanned donation.
Posted on 3/3/21 at 9:00 pm to castorinho
womp womp
Posted on 3/3/21 at 9:16 pm to LSUGUMBO
quote:
Kind of a tight window for a phase out- what’s the point?
The point is people making that much money shouldn’t be getting money anyway. Most making that much haven’t missed a day of work related to Covid.
Posted on 3/3/21 at 9:24 pm to go ta hell ole miss
Depends on what your definition of a stimulus is.
If we want stimulus, everyone gets money.
If we want unemployment relief, call it that and give it to only folks who lost jobs and can demonstrate it through income disparity
If we want stimulus, everyone gets money.
If we want unemployment relief, call it that and give it to only folks who lost jobs and can demonstrate it through income disparity
Posted on 3/3/21 at 9:51 pm to Brobocop
Screw the Government. That's my only contribution to this thread.
Posted on 3/3/21 at 9:57 pm to Dawgfanman
quote:
So glad I filed early. Under 2019 taxes no check. 2020, will get one. Not that it’s good I made less...
I'm the exact opposite. Whole covid has been a huge blessing for my family.
im riding this thing out hopefully they get it done soon before I have to file I'm usually filed and done by now
This post was edited on 3/3/21 at 9:59 pm
Posted on 3/3/21 at 9:57 pm to Dawgfanman
If I qualify on 2019 income but do not qualify on 2020 income but have not yet filed should I hang on until this passes before filing? Are they going to allow 2019 income if you haven’t filed 2020 yet?
Posted on 3/3/21 at 9:59 pm to Saint5446
quote:
If I qualify on 2019 income but do not qualify on 2020 income but have not yet filed should I hang on until this passes before filing? Are they going to allow 2019 income if you haven’t filed 2020 yet?
So far yeah
Posted on 3/4/21 at 6:42 am to Lazy But Talented
quote:Better to base "on" than off, wouldn't you say?
So I’m assuming it’s based off 2020 taxes now?
Posted on 3/4/21 at 6:45 am to Sho Nuff
quote:me, me, me. I, I, I.
I love that I will have to pay for this but get none of it.
Posted on 3/4/21 at 6:48 am to bayoubengals88
quote:
me, me, me. I, I, I.
you sound like a leach
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