Stimulus Check

[Jeepers]

Did anyone hear something about getting a $2,000.00 stimulus check from the government? I heard a blurb about it on the radio but didn't catch it all. 

[out_of_the_ordinary]

They didn't set the amount yet.

 

I don't like the idea of "stimulus checks" at all. 

 

 

 

 

Edited March 18, 2020 by out_of_the_ordinary
to clarify

[Ambergris]

Socialism, much?

[Annarchy]

I heard, $1,000.

 

I won’t believe it till I see it.  Then, withdraw the $$ immediately, to make sure they don’t take it back. However, watch out for taxes.....  

[Ambergris]

Most likely they will send out debit cards.  

[Annarchy]

24 minutes ago, Ambergris said:

Most likely they will send out debit cards.  

I wouldn’t doubt it. Easy to “return to sender”. 

[out_of_the_ordinary]

11 minutes ago, Annarchy said:

I wouldn’t doubt it. Easy to “return to sender”. 

Data mining, too.

Edited March 19, 2020 by out_of_the_ordinary

[Annarchy]

6 minutes ago, out_of_the_ordinary said:

Data mining, too.

Probably. 

[Peg]

5 hours ago, Jeepers said:

Did anyone hear something about getting a $2,000.00 stimulus check from the government? I heard a blurb about it on the radio but didn't catch it all. 

What I thought I heard on the radio was that they are considering $1,000 to $2,000 per family that makes less then $60,000 per year. I have no idea how they plan on funding that. I have no idea if that passed or not.

 

[Littlesister]

It passed. the first checks go out the end of month and the second batch goes out around April 8th.  I doubt that I would get one being retired. I think it is for those that have lost jobs and such but not sure. Come tax time next year you will have to claim it on your taxes and you will be taxed at that time.

[The WE2's]

I watched the news reports talking about it.  I'm not sure who will get it...but figure it will go to those who have been directly impacted by the virus in some way or another.  Guess we'll all just do a "wait and see"?  

[Mt_Rider]

Well, you all remember that this is not new.  We all received a stimulus check at some point [ I don't recall which year] during the last president's 8 yrs.    Not sure that did any good or not for stimulating the economy then.  I don't do numbers.     Hope this will ease the pain for some folks. 

 

   Hate to see some folks get that much money at once tho.....the addicts might kill themselves with that much.    But...each is responsible for themselves.  Some might put it towards a tax payment, if they have one coming. 

 

In all this COVID talk....don't forget................APRIL COMETH.........       ....for anyone too distracted to think of that.  SO glad DH did not get certified this year for doing taxes.  What a MESS that would have been for us.  He met folks at the library and .....they are all closed for COVID.  Thank YOU, God for that choice!   

 

MtRider    ....yeah, we heard what WE2 said. 

[Mt_Rider]

Anyone else hear that the DUE DATE FOR TAXES might be pushed off to...June?  Saw the article but lost it. 

 

MtRider   

[Ambergris]

July 15

 

[Littlesister]

What we have heard is $1500 per person and $500 per child. We will be paying taxes next year on it as I remember the last stimulus checks, we did have to include that as income. So we will be doing that again.  Right now I am still waiting on my tax return which is suppose to go straight to my checking account.  I am going to take it out as soon as it hits the bank. I did all but empty my savings account. Left the min. amount in just to leave it open. That way if we don't need to use the cash and things do go back to normal,  that it will. I can always put it back in bank. And that is iffy as it is not going to draw any interest anyway. 

[Mt_Rider]

SOOOOOO glad DH decided not to do people's taxes this year!  He rented a room at the library to meet folks.....but libraries are all closed.  And all the shut-downs.  Is tax business ESSENTIAL services? Not over 10 people gathered but .......    No Thanks!  

 

MtRider  ..... LOL   Maybe my DD2 will get hers done without an extension this year!  She proudly announces she'd gathered the data already.

[Deb2of9]

I heard that they would probably do direct deposit since “they know all our contact info to get it to us” I also heard that they haven’t determined who would get it or exactly how much. They are debating the stimulus bill now. I admit right now an influx of money might be nice for me as I have been out of work due to an injury since mid-February. However one has to ask what would be the cost and I don’t meat financial but to our personal freedom.  What will be the results to going down that road. Nothing in life is without cost, it is just a matter of what the cost is and is it worth the cost we will have to pay

[Littlesister]

I have heard they are going to extend the tax dead line out 3 months. So if you can't make the April 15th deadline for taxes you have 3 extra months. 

So many are out of work now. I don't know that that stimulus check will be much good. First I heard 1000 dollars and now 15 hundred. Around here that won't pay the rent or the house payments. Plus they still have utilities and whatever other bills they might have. 

[Ambergris]

So many questions as to who will get them.  How about the working poor who don't make enough to file taxes?  Disabled?  Sheltered workers?  Students?  House spouses?  Retirees?  Children?  

[euphrasyne]

https://thesavvycouple.com/stimulus-checks/

 

$1200 individuals making less than 75K AGI

$2400 couples filing jointly making less than $150K AGI

$500 per each individual child.   

 

So married filing jointly with 2 kids ~ $3400

We had to pay taxes on the last stimulus check that went out with Obama, so I'm imagining that we will need to claim this on next year's taxes as income like that one was.  

 

So sometimes I do taxes for others (informally, mostly family and close friends) and I can say that I'm a SAHM and I always file jointly--taxes almost always work out better that way.  Just because you don't have to 'pay' taxes doesn't mean you cannot file taxes.  File owing zero.    Retirement does not exempt you from paying taxes as retirement income IS considered income.  Children who have income must still file taxes  if it is over a certain amount and the same with students.  Depending on income, certain types of disability can get you more back than you owe or pay in and sheltered workers are usually considered disabled.  

Edited March 26, 2020 by euphrasyne

[Ambergris]

I have been trying to get DS1 to file a tax return for years.  He earns so little at his odd jobs, though, he just tells me to file head of household.  He won't bother.  I guess he gets nothing.

[Mt_Rider]

I'm becoming more and more grateful that DH is [retired] chiro and a [retired] tax preparer.  In-house knowledge/skill is coming in handy during Shelter In Place.  He's much better at discerning some of the data coming out right now .....but it's still Wait and See. 

 

We're more concerned for minuscule businesses like our DD2/SIL.  One and a half workers....on contract.  What will they get as not-actual-employees.  What do DD2/SIL get for the several minuscule businesses they run?  She was getting more frantic again on the last phone call....course they were under a tsunami alert on top of everything else.  [no tsunami, thankfully]

 

DD1 is school teacher.....don't know how HI is handling that except the schools are out... But likely she's covered.  Hard to reach that dd....doesn't answer anything but texting, which we don't have.

 

MtRider   

[Littlesister]

I am sure we will all be having to claim this check as income and pay taxes on it. It will not be enough to get people out of work through this. For most it might give them another month of rent or house payment.  Both of my daughters are still working as well as one of their DH. The other one is divorced.  The granddaughter that moved to Washington state is not going to try to get a job for awhile. Her DH is Navy. The one in CA, her and her DH are working from home. Another granddaughter is working in ER hospital. Grandson 1 is in Army and Grandson 2 is also still working for now. But he is 18 and still lives at home so will be fine. We are retired and so far so good as we got all bills paid off. No house payment and no car payment. Charge cards if we use them get payed in full.  Trying to see what we can do without just in case our retirement starts to tank. But so far so good.   For everyone to get through this. And that those that are out of work now because of this virus, that they will have jobs to go back to when and if we get through this.  

Praying hard for Granddaughter working in hospital.  Not a good time for her. She is taking all precautions. Straight to shower when she gets home and clothes in wash. Shoes stay outside. 

[dogmom4]

5 hours ago, Mt_Rider said:

DD1 is school teacher.....don't know how HI is handling that except the schools are out... But likely she's covered.  Hard to reach that dd....doesn't answer anything but texting, which we don't have.

 

MtRider   

If she is a public school teacher she is likely getting paid.

[Annarchy]

Peg & Deb2of9

 

Was thinking about you both the other day.