- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Means Testing the financial aid
Posted on 3/20/20 at 9:31 am
Posted on 3/20/20 at 9:31 am
If they means eat off returns from 2018 this will be a big disaster. Especially in Louisiana and Texas with oil and gas.
Just give it to everyone and then means test on the back end with the 2020 returns that will be filed in 2021.
ETA:
What’s with the downvotes? Either give it to nobody or everyone. But if you are going to means test, why use 2018?
Just give it to everyone and then means test on the back end with the 2020 returns that will be filed in 2021.
ETA:
What’s with the downvotes? Either give it to nobody or everyone. But if you are going to means test, why use 2018?
This post was edited on 3/20/20 at 9:37 am
5
Posted on 3/20/20 at 10:04 am to Mr.Perfect
b/c not everyone has filed 2019?
Posted on 3/20/20 at 10:12 am to Mr.Perfect
2018 is all they have to go off of.
Posted on 3/20/20 at 10:16 am to Clint Torres
quote:
b/c not everyone has filed 2019?
Yea no doubt. That’s why it needs to go to everyone who filed regardless of the filing and then true it up in 2021.
You know there are millions who exceeded the threshold in 2018 but have lost their income now. This would be harmful not helpful
Posted on 3/20/20 at 10:24 am to Mr.Perfect
When we did this back in 2008, it was based on the 2017 tax returns. You had to file a 07 tax return to get a payment.
There were some people who didn't get a stimulus payment because they didn't earn enough money (back then, the means test was you had to earn some money to get a payment). So they paired it with a credit available on the 2008 return, therefore if you made money in 08 but not 07, you could get a credit on your 08 return because you didn't get the payment.
I guess they could do something similar here. If you are ineligible based on 2018 but turn out to be eligible in 2020, you get a credit on your 2020 return.
There were some people who didn't get a stimulus payment because they didn't earn enough money (back then, the means test was you had to earn some money to get a payment). So they paired it with a credit available on the 2008 return, therefore if you made money in 08 but not 07, you could get a credit on your 08 return because you didn't get the payment.
I guess they could do something similar here. If you are ineligible based on 2018 but turn out to be eligible in 2020, you get a credit on your 2020 return.
Posted on 3/20/20 at 10:31 am to Mr.Perfect
Don't care not getting shite!
Posted on 3/20/20 at 11:01 am to Mr.Perfect
quote:It's the quickest way practical to get money to as many as reasonably possible while having some means testing to provide cover from the media wondering why millionaires are getting checks.
why use 2018
Posted on 3/20/20 at 11:34 am to PearlJam
quote:
It's the quickest way practical to get money to as many as reasonably possible while having some means testing
It will be incredibly incorrect and will omit millions who need it.
Give it to 100% of filers and then add a box to take it back if you see that they were over the income level in 2020.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News