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Started By
Message
re: Stimulus Checks
Posted on 3/25/20 at 10:55 am to fallguy_1978
Posted on 3/25/20 at 10:55 am to fallguy_1978
1
Posted on 3/25/20 at 11:05 am to tgrbaitn08
quote:
$198,000 for couples (with no children)
What does the no children part mean? Are they saying the adults would phase out but you'd still get money for the kids, or does the phase-out change if you have kids?
Posted on 3/25/20 at 11:08 am to GRTiger
quote:
What does the no children part mean? Are they saying the adults would phase out but you'd still get money for the kids, or does the phase-out change if you have kids?
I THINK the children credits of $500 each are not tied to income.
Posted on 3/25/20 at 11:13 am to mikelbr
So married filling jointly with income of 198k or more will only get the $500/child amount?
Posted on 3/25/20 at 11:15 am to GRTiger
quote:
So married filling jointly with income of 198k or more will only get the $500/child amount?
If Im not mistaken it AGI right?
Posted on 3/25/20 at 11:16 am to Mr Clean
$1k won't last most people a week with this economy
Posted on 3/25/20 at 11:25 am to tgrbaitn08
That is my understanding.
Posted on 3/25/20 at 11:36 am to mikelbr
quote:
do know that they are using 2019 if you filed already, 2018 if not. That sucks for people who got big raises.
This is some bullshite...
Posted on 3/25/20 at 11:41 am to dj30
While nothing is finalized, our firm (I'm a CPA) is getting guidance that it will be trued up when you file your 2020 taxes.
Let's say you made $70,000 in 2018 and $80,000 in 2019 and you haven't filed 2019 yet. Check would be based on 2018 and you would get one but you wouldn't qualify based on 2019 numbers so you would owe the money back and it would come due with 2020 filings.
Again, nothing is finalized and details are scarce but that is what we are hearing.
Let's say you made $70,000 in 2018 and $80,000 in 2019 and you haven't filed 2019 yet. Check would be based on 2018 and you would get one but you wouldn't qualify based on 2019 numbers so you would owe the money back and it would come due with 2020 filings.
Again, nothing is finalized and details are scarce but that is what we are hearing.
Posted on 3/25/20 at 11:43 am to BamaAlum02
quote:
Again, nothing is finalized
no shite...they still havent even passed the bill..thats what we are all waiting on
Posted on 3/25/20 at 11:48 am to tgrbaitn08
That doesn't mean it's not already drafted and the AICPA has some insight as to what is in it.
Posted on 3/25/20 at 11:56 am to Tiger70775
They will never arrive in time.
Posted on 3/25/20 at 11:56 am to BamaAlum02
quote:
That doesn't mean it's not already drafted and the AICPA has some insight as to what is in it.
The components of the bill are all over the internet..pretty easy to find
Posted on 3/25/20 at 3:28 pm to tgrbaitn08
I feel like offering small businesses $367B to keep payroll going while employees stay home. AND boosting unemployment benefits while employees are staying home. AND giving cash payments to each American is double dipping a little.
Why would you need to give small businesses money to keep payroll going AND give people cash to make up for lost payroll??
$1200/adult and $500/child (Let's round that to $1000 per person)
$1000 x 300 million people (some people don't qualify) = $300 Billion
But the package is for $2 TRILLION
Why would you need to give small businesses money to keep payroll going AND give people cash to make up for lost payroll??
$1200/adult and $500/child (Let's round that to $1000 per person)
$1000 x 300 million people (some people don't qualify) = $300 Billion
But the package is for $2 TRILLION
Posted on 3/25/20 at 4:08 pm to seawolf06
F this, had another kid in 2019 and got a huge raise. Guess won't be getting anything now as compared to 3k.
Damn myself for already filing 2019.
Damn myself for already filing 2019.
This post was edited on 3/25/20 at 4:09 pm
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