- 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
re: Some Stimulus Check Answers (and other issues)
Posted on 3/25/20 at 5:36 pm to LSUFanHouston
Posted on 3/25/20 at 5:36 pm to LSUFanHouston
Do non workers on the government Dole get stimulus checks?
1
Posted on 3/25/20 at 5:37 pm to rocket31
People will likely have missed two pay checks by the time these checks are actually issued. You’re right, shite will get real very soon.
Posted on 3/25/20 at 5:37 pm to notiger1997
quote:
Does the child payment also phase-out as well?
I can not yet confirm. It seems that it would, but again, I haven't been able to confirm that.
Posted on 3/25/20 at 5:40 pm to LSUFanHouston
Is the money received going to be taxed?
I read this, but my dumbass doesn't understand half of what I read.
I read this, but my dumbass doesn't understand half of what I read.
Posted on 3/25/20 at 5:40 pm to wildtigercat93
quote:
Even worse. That’s more than Most of the hospitality industry makes. Why would they go back to work until the 4 months are up.
Sounds like a better problem to have than our current one
It's also not true.
They don't make $1,200 over 4 months. That's absurd. They've already missed 2 weeks in most cases and will mess several more. $1,200 is likely far less than most make in a month.
Posted on 3/25/20 at 5:41 pm to rocket31
quote:
side note: $1200 is not going to be enough for millions of people esp in higher costs of living areas
if this shutdown continues, things are going to get real fricking interesting
Correct
The problem with the stimulus is the overwhelming majority of the money isn't going to affected families
Posted on 3/25/20 at 5:41 pm to LSUFanHouston
quote:
3) 50 percent of 2020 self-employment taxes will not be due until Dec 31, 2021, and the other 50% not due until Dec 31, 2022
?
Posted on 3/25/20 at 5:42 pm to Epic Cajun
quote:
What does this part mean? Who gets the credit upfront and who gets it after filing their 2020 income tax? Does everyone get the credit, and only those who make less than 75k get the advanced portion?
The credit is going to be based on your 2020 AGI. But rather than making EVERYONE wait until next year to get money, the IRS will use your 2018 income / situation to determine if/how much you get in advance payments, i.e. a check or direct deposit in the next weeks/months, as opposed to waiting until you file your 2020 return next year.
If your situation doesn't change from 18 to 20 (number of dependents stays the same, income stays below threshholds) then your credit will be the same as your advance payment, so on your 2020 return, your net is zero.
If your situation does change, you may get additional credits on your 2020 return. You may also have to pay some of it back, but we aren't sure yet if the IRS will actually make you pay it back, or if they will just say "nah you're good".
An interesting part about this is that the politicians are saying checks/direct deposits could happen in 2-3 weeks, and the IRS, who would be tasked with making the payments, is basically saying, not a chance.
Posted on 3/25/20 at 5:44 pm to chinhoyang
quote:
Do non workers on the government Dole get stimulus checks?
Seems like you have to have to have a tax liability to get one, but if you don't have one and still get social security, then you can get one.
Posted on 3/25/20 at 5:45 pm to oOoLsUtIgErSoOo
quote:
Is the money received going to be taxed?
Taxed... no.
If you get too much (due to changing situations), you *might* have to pay some of it back, but we don't know for sure yet.
Posted on 3/25/20 at 5:46 pm to LSUFanHouston
quote:
You will receive this credit on your 2020 income tax return, filed next year.
So...
I'm still fricked by this virus this year?
A tax credit a year from now isn't going to help me pay my rent next week.
Or next month.
This is a bullshite bill.
Posted on 3/25/20 at 5:47 pm to NIH
God I hope that April 6 date floated around is the latest. This needs to be out ASAP.
Posted on 3/25/20 at 5:48 pm to Powerman
quote:
The problem with the stimulus is the overwhelming majority of the money isn't going to affected families
I had this discussion with the wife (no pics) last night. We are both still getting paychecks. I feel like I would rather the money go to those who are out of work / have reduced work.
She, of course, wants to "stimulate" the economy by buying shite and/or saving it and using it for a vacation once all this blows over.
Posted on 3/25/20 at 5:48 pm to TheCaterpillar
quote:
It's also not true.
They don't make $1,200 over 4 months. That's absurd. They've already missed 2 weeks in most cases and will mess several more. $1,200 is likely far less than most make in a month.
$1200 is A bad month hours wise forthe vast majority of food service workers.
Posted on 3/25/20 at 5:50 pm to magildachunks
In 2018 I had one kid
In 2019 I had another
How would I inform them of this change to receive the additional 500?
Would that just be a tax credit?
In 2019 I had another
How would I inform them of this change to receive the additional 500?
Would that just be a tax credit?
Posted on 3/25/20 at 5:50 pm to LSUFanHouston
quote:
I had this discussion with the wife (no pics) last night. We are both still getting paychecks. I feel like I would rather the money go to those who are out of work / have reduced work.
Means testing people might delay this quite a bit too.
It would be like going to the DMV and applying for your stimulus. We need forms A9, G3 and F9 and check back in 2 weeks.
Posted on 3/25/20 at 5:50 pm to TheCaterpillar
quote:
It's also not true.
Oh I know
I just love when people grandstand over pressing needs because they are so worried about a potential made up scenario of a side effect of the fixing of the pressing need. Guys like that will look at a shotgun blast in their stomach and go “well if go to the hospital, my plants won’t get watered for the next couple weeks. Better not go to prevent that.”
Posted on 3/25/20 at 5:51 pm to magildachunks
quote:
A tax credit a year from now isn't going to help me pay my rent next week.
Or next month.
As long as your 2018 income was below the thressholds, you will get an advance payment of the credit, sometime soon.
Posted on 3/25/20 at 5:52 pm to Jpeazyy
quote:
In 2018 I had one kid
In 2019 I had another
How would I inform them of this change to receive the additional 500?
Would that just be a tax credit?
File your 2019 taxes before 4/6. They will use your 2019 taxes if they have been filed.
This post was edited on 3/25/20 at 5:53 pm
Posted on 3/25/20 at 5:52 pm to magildachunks
quote:
A tax credit a year from now isn't going to help me pay my rent next week.
Did you miss the part about the advanced payment for said credit?
Page 2 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News