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LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
19982 posts

re: Some Stimulus Check Answers (and other issues)
quote:

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.


Open up the FEMA portal, and let people apply via that. They wouldn't be sending out adjusters but could require documents be uploaded. FEMA in the past has given payments to people before confirmation was made, so they could do that again.


magildachunks
Member since Oct 2006
26714 posts

re: Some Stimulus Check Answers (and other issues)
quote:

File your 2019 taxes before 4/6. They will use your 2019 taxes if they have been filed.



I know what I'm doing this weekend


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10
LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
19982 posts

re: Some Stimulus Check Answers (and other issues)
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?


This would be a situation where your advance payment wouldn't include the $500 for your second kid, but you would instead get it as a credit / refund on your 2020 tax return, that you file next year.


GRTiger
USA Fan
On a roof eating alligator pie
Member since Dec 2008
52297 posts

re: Some Stimulus Check Answers (and other issues)
I wish. I could just get a link to the full bill. Hearing a lot of the bull shite stayed in and I trust almost nobody with their "take" at this point.

Not directed at OP, sounds like straight facts here, at least based on second hand info.


LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
19982 posts

re: Some Stimulus Check Answers (and other issues)
quote:

I wish. I could just get a link to the full bill. Hearing a lot of the bull shite stayed in and I trust almost nobody with their "take" at this point.


I don't think there is a "full bill" at this point that has been posted. I am getting information from some lobbyists I know.


FLObserver
LSU Fan
Jacksonville
Member since Nov 2005
7555 posts

re: Some Stimulus Check Answers (and other issues)
quote:

Open up the FEMA portal, and let people apply via that.


Fema is Garbage. Crooks.


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21
nated14
LSU Fan
Baton Rouge
Member since Nov 2009
188 posts

re: Some Stimulus Check Answers (and other issues)
Which is stimulus regardless of how much you make! It’s laughable to have income restrictions on stimulus. An aid package is different. That should only go to those effected via the unemployment office and SBA route. The misappropriation of tax dollars for this is unreal. I agree people need help and there is a system that identifies those people. We should utilize existing systems to appropriate those funds. I know dozens of people who make 120k a year married bc their wives don’t work that will get a piece of this and still working. I also know a few that had both husband and wife working who had AGIs above 150k and one lost their job that will be left out. Bring on the “they should have saved more “ crowd and I’ll defer to the you should have went to college crew and so on. The beneficiaries of this, for the most part, have the least to lose IMO. While those who will have to fund these packages will see little to no direct “payment “. All that being said it is better than nothing which is a very low bar to set for those who run the United States.


DoUrden
Tennessee Fan
UnderDark
Member since Oct 2011
23158 posts
 Online 

re: Some Stimulus Check Answers (and other issues)
TL:DR

Will I get a check and will it make me pay it back later, that what everyone wants to know.


Lsupimp
Colorado Fan
The Mean Streets of ST. GEORGE
Member since Nov 2003
63941 posts

re: Some Stimulus Check Answers (and other issues)
So what are self employed people doing with the quarterly estimates that are due soon ? Paying a minimum amount? Paying nothing?


tylercsbn9
USA Fan
Cypress, TX
Member since Feb 2004
63629 posts

re: Some Stimulus Check Answers (and other issues)
I would assume you would just have to pay taxes on the amount you get. Rather than pay it back in its entirety


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LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
19982 posts

re: Some Stimulus Check Answers (and other issues)
quote:

Will I get a check and will it make me pay it back later, that what everyone wants to know.


As my tax professors at UNO used to say, "It depends"



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00
magildachunks
Member since Oct 2006
26714 posts

re: Some Stimulus Check Answers (and other issues)
quote:

am getting information from some lobbyists I know



So everything you're posting is probably made-up bull shite.


Should've started your OP with that.


LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
19982 posts

re: Some Stimulus Check Answers (and other issues)
quote:

So what are self employed people doing with the quarterly estimates that are due soon ? Paying a minimum amount? Paying nothing?


The ones that are due 4/15 have already been postponed to 7/15.

The next payment is due 6/15. You still have to make estimated payments of regular tax, you can just defer your the self-employment tax part of it.

I have no idea what that's going to look like in practice. I'm guessing they will base any estimated tax penalties by subtracting the s/e tax from the total tax that should have been paid in. But that's just a WAG at this point.


LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
19982 posts

re: Some Stimulus Check Answers (and other issues)
quote:

So everything you're posting is probably made-up bull shite.


Should've started your OP with that.


I've worked with these guys on multiple occasions. It's not made up BS. Like I said, of course there could be last minute changes. Also, a number of articles being posted today are covering these dame topics.


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01
Lsupimp
Colorado Fan
The Mean Streets of ST. GEORGE
Member since Nov 2003
63941 posts

re: Some Stimulus Check Answers (and other issues)
Gotcha ! Thanks.


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00
Murray
Houston Astros Fan
Member since Aug 2008
12831 posts

re: Some Stimulus Check Answers (and other issues)
quote:

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.


You qualify to get this? Dude, if you ever move to BR, you need to get in touch with me and I’ll hook you up with way more money.


LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
19982 posts

re: Some Stimulus Check Answers (and other issues)
lol. Thanks. My wife is a teacher so she brings our income down. Lol

If maxing out my pay was most important I’d still be working in the galleria area and not in NOLA...


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00
mmmmmbeeer
Georgia Fan
Dallas, GA
Member since Nov 2014
4245 posts

re: Some Stimulus Check Answers (and other issues)
quote:

Which is stimulus regardless of how much you make! It’s laughable to have income restrictions on stimulus. An aid package is different. That should only go to those effected via the unemployment office and SBA route. The misappropriation of tax dollars for this is unreal. I agree people need help and there is a system that identifies those people. We should utilize existing systems to appropriate those funds. I know dozens of people who make 120k a year married bc their wives don’t work that will get a piece of this and still working. I also know a few that had both husband and wife working who had AGIs above 150k and one lost their job that will be left out. Bring on the “they should have saved more “ crowd and I’ll defer to the you should have went to college crew and so on. The beneficiaries of this, for the most part, have the least to lose IMO. While those who will have to fund these packages will see little to no direct “payment “. All that being said it is better than nothing which is a very low bar to set for those who run the United States.


Upper-middle always gets screwed. We should be used to it by now. Wholeheartedly agree that this should be a blanket stimulus.


blackoutdore
Vanderbilt Fan
Nashville
Member since Jun 2013
166 posts

re: Some Stimulus Check Answers (and other issues)
Dentists are getting crushed by this as every practice is closed [or doing only emergency cases] and many get paid commission essentially. Wife is a dentist and graduated May 2019. The majority of her class has been laid off, and the weekly max unemployment benefit across the South (AL = $275, GA = $330, LA =$247 , MS = $235, SC =$326, TN = $275) does not even come close to replacing their wages (avg starting for dentist is $120-$150k which is $1.8k - $2.3k/wk assuming 20% effective tax rate). Most of them have bought houses and refinanced their substantial federal loans to private lenders over the past year assuming they were in pretty good financial situations. If there was any loss to income, it would be an accident and their insurance would cover them.

I say all of that to suggest that some people who were doing good things and high paying jobs are getting destroyed by this virus. It's not just the hospitality industry.


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30
BilJ
Kansas State Fan
DANGA ZONE
Member since Sep 2003
147632 posts
 Online 

re: Some Stimulus Check Answers (and other issues)
good breakdown


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