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Quick survey regarding stimulus payments

Posted on 4/20/20 at 11:50 am
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37093 posts
Posted on 4/20/20 at 11:50 am
A few of us are trying to figure out what is happening, and answers from the Treasury are non-existent, so we are trying to solve this on our own.

So here are a couple of questions.

Has anyone gotten a stimulus payment after the initial set went out on April 15th?

Has anyone gotten a stimulus payment that was subject to the "phase-out" restrictions? I.e. your AGI was above 150K married / 75K single. If so, was it calculated correctly?

I know we have a lot of people on the MT that don't qualify for anything, but I know we also have a lot of people that are just starting out in their careers and their income hasn't reached the cutoffs.
Posted by shawnlsu
Member since Nov 2011
23682 posts
Posted on 4/20/20 at 11:53 am to
Our AGI was about $170K, we are supposed to get around $2K with the kid included. Haven't seen it
Posted by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 4/20/20 at 11:56 am to
AGI a little over $170k in 2018. All I get is that stupid message on the when I try to put in my banking info since we owed in 2018.
This post was edited on 4/20/20 at 12:04 pm
Posted by Puffoluffagus
Savannah, GA
Member since Feb 2009
6098 posts
Posted on 4/20/20 at 11:59 am to
quote:

Has anyone gotten a stimulus payment after the initial set went out on April 15th?

Has anyone gotten a stimulus payment that was subject to the "phase-out" restrictions? I.e. your AGI was above 150K married / 75K single. If so, was it calculated correctly?


I haven't gotten the stimulus, but we are in the phase portion of the agi for 2019 taxes.

I went to the IRS website to place my info for direct deposit, which confirmed my eligibility and stated that the page would update once my payment date was scheduled. That was about a week ago.
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37093 posts
Posted on 4/20/20 at 12:03 pm to
quote:

AGI a little over $17k in 2018.


17K or 170K?
Posted by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 4/20/20 at 12:03 pm to
quote:

170K?


This one. Fixed it.
This post was edited on 4/20/20 at 12:04 pm
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37093 posts
Posted on 4/20/20 at 12:03 pm to
quote:

I went to the IRS website to place my info for direct deposit, which confirmed my eligibility and stated that the page would update once my payment date was scheduled. That was about a week ago.



Did it give you an amount? Was it correctly reduced for the phase-out?

When approx did you e-file 2019?
Posted by Rollwave034
Member since Feb 2013
521 posts
Posted on 4/20/20 at 12:04 pm to
I received mine the Wednesday after it was sent out and it was not the full amount
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37093 posts
Posted on 4/20/20 at 12:04 pm to
quote:

Janky


Have you filed 2019 yet?
Posted by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 4/20/20 at 12:05 pm to
No, I would be SOL if I did as my 2019 AGI was over $200k.
Posted by mtcheral
BR
Member since Oct 2008
1936 posts
Posted on 4/20/20 at 12:06 pm to
Mine was adjusted per AGI and appears correct based on calculators I found online. Did not receive the amount expected for the children.
Posted by fjlee90
Baton Rouge
Member since Nov 2016
7836 posts
Posted on 4/20/20 at 12:06 pm to
Girlfriend got hers in full last week FWIW.
Posted by SippyCup
Gulf Coast
Member since Sep 2008
6139 posts
Posted on 4/20/20 at 12:09 pm to
I'm in the same business as you so I will answer based off what I have seen with my clients.

quote:

Has anyone gotten a stimulus payment after the initial set went out on April 15th?


No. Clients received checks on the 13, 14 & 15 but not a single one after the 15th.

quote:

Has anyone gotten a stimulus payment that was subject to the "phase-out" restrictions? I.e. your AGI was above 150K married / 75K single. If so, was it calculated correctly?


Yes, several reduced and calculated correctly. Two clients, that I know of, received checks who were over the income limit.

Posted by Puffoluffagus
Savannah, GA
Member since Feb 2009
6098 posts
Posted on 4/20/20 at 12:12 pm to
quote:

Did it give you an amount? Was it correctly reduced for the phase-out?

When approx did you e-file 2019?


Did not give an amount that I'm expected to get. Filed mid February.

My return included w2s, 1099s/schedule c, bunch of rollover IRA forms. I also owed money.
Posted by Bestbank Tiger
Premium Member
Member since Jan 2005
71069 posts
Posted on 4/20/20 at 12:13 pm to
quote:


I know we have a lot of people on the MT that don't qualify for anything


Same for 100% of the OT.
Posted by Puffoluffagus
Savannah, GA
Member since Feb 2009
6098 posts
Posted on 4/20/20 at 12:17 pm to
This is my current status.

Posted by LSUFanHouston
NOLA
Member since Jul 2009
37093 posts
Posted on 4/20/20 at 12:17 pm to
quote:

Mine was adjusted per AGI and appears correct based on calculators I found online. Did not receive the amount expected for the children.


Did they use 2018 or 2019 numbers?
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37093 posts
Posted on 4/20/20 at 12:18 pm to
quote:

Yes, several reduced and calculated correctly. Two clients, that I know of, received checks who were over the income limit.


Do you know if those were based on 2018 or 2019 numbers?
Posted by mtcheral
BR
Member since Oct 2008
1936 posts
Posted on 4/20/20 at 12:18 pm to
My deposit happened on the 15 also.
This post was edited on 4/20/20 at 12:25 pm
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37093 posts
Posted on 4/20/20 at 12:22 pm to
quote:

2018. I haven’t done 2019 yet.


OK. It has seemed like, based on what I was reading and clients were telling me, that perhaps IRS hasn't yet done the calcs on those who haven't filed 2019 and would have a reduction based on 2018. But you just blew my theory out the water

I keep thinking there has to be a rhyme or reason. The only sold one is that 19 tax is still processing. But that doesn't explain everyone.
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