topic Re: Stimulus in Community Chat

Stimulus

catter70 — Fri, 01 Jan 2021 12:28:10 GMT

Received my stimulus $$$$$ already.

Re: Stimulus

KingstonsMom — Fri, 01 Jan 2021 12:38:20 GMT

We did too!

Re: Stimulus

Roscoe the Rascal — Fri, 01 Jan 2021 13:14:36 GMT

At the bank pending 1-4 deposit day. Bank should have done on 31st and it was there.

I don't get that but it is there.

Re: Stimulus

godi — Fri, 01 Jan 2021 13:57:14 GMT

Don't have direct deposit. So who knows when we will get ours.

Re: Stimulus

Johnnyeager — Fri, 01 Jan 2021 14:09:37 GMT

With the holiday and the weekend the official payment date is January 4th.

The Treasury will begin funding bank direct deposits on Monday.

Re: Stimulus

PickyPicky3 — Fri, 01 Jan 2021 14:27:00 GMT

I only got $451.20. That's about 25% less than $600 (roughly my tax bracket). I thought the stimulus checks aren't taxed. I don't owe the government anything.

Anyone else? I feel like I'm always on the naughty list.

Re: Stimulus

SharkE — Fri, 01 Jan 2021 14:27:10 GMT

probably something else you've forgotten

we never paid tax on the first 1200 why would we pay it now ?

Re: Stimulus

Love_to_read — Fri, 01 Jan 2021 14:29:34 GMT

You do need to realize that this is not the bank's fault. Those items come in through an ACH a clearing house with an effective date. you can thank you government officials for the effective date. Banks do not choose those dates themselves. Be informed.

Re: Stimulus

Johnnyeager — Fri, 01 Jan 2021 14:34:40 GMT

Individuals with income below $75000 will receive the full $600.

The legislation provides for reductions in the $600 for income up to about $87000.

This provision hasn't been discussed or disclosed much.

This payment is not income. It is a refundable tax credit, which is not income.

Re: Stimulus

SharkE — Fri, 01 Jan 2021 14:34:29 GMT

I hope this thread is allowed to continue. If nobody throws a monkey wench in it. Only way I have of knowing what is going on .

No political names, please. No politics of any kind, please.

We will all suffer .........

Re: Stimulus

PickyPicky3 — Fri, 01 Jan 2021 14:55:14 GMT

@Johnnyeager Thank you. I don't remember ever hearing that. I had some high capital gains in 2019 that kicked me above that line. I had to find my returns and check.

(I don't mind you all knowing that I'm middle class)

Re: Stimulus

CelticCrafter — Fri, 01 Jan 2021 14:56:09 GMT

@PickyPicky3 wrote:
I only got $451.20. That's about 25% less than $600 (roughly my tax bracket). I thought the stimulus checks aren't taxed. I don't owe the government anything.

Anyone else? I feel like I'm always on the naughty list.

They aren't taxed. Did you receive the full amount last time around. If you made over a certain amount the stimilus payment is reduced, same as last time.

Re: Stimulus

Shelbelle — Fri, 01 Jan 2021 14:57:20 GMT

Ours was deposited today !!

Re: Stimulus

gidgetgh — Fri, 01 Jan 2021 15:01:12 GMT

Nothing in my account yet. But my bank doesn't show pending deposits for days out. Only same day. So maybe I'll see it on the 4th.

Last time though, we waited weeks for our stimulus payments.

Re: Stimulus

PickyPicky3 — Fri, 01 Jan 2021 15:07:23 GMT

@CelticCrafter I filed my taxes in June and the IRS didn't process it until November. I got the full $1200 because I hadn't done my taxes yet! This reduction may include an "overpayment" on that first check.

I so appreciate the people in this forum.

Re: Stimulus

noodleann — Fri, 01 Jan 2021 15:45:17 GMT

According to CNET:

To get the full $600 stimulus per person, either:

As an individual without qualifying children, you have an adjusted gross income of up to $75,000 (this completely phases out at $87,000, down from the $99,000 used for the first check).
You file as the head of a household (you claim children) and earn under $112,500.
You file jointly without children and earn less than $150,000 and no more than $174,000 (down from $198,000 from the first check).
Any dependent child under age 17 will count for an additional $600.

Re: Stimulus

OKPrincess — Fri, 01 Jan 2021 15:49:47 GMT

We received ours too 💕

Re: Stimulus

qualitygal — Fri, 01 Jan 2021 15:52:34 GMT

We did too.

Re: Stimulus

qvcfreak — Fri, 01 Jan 2021 16:18:54 GMT

I'm so excited, I received mine yesterday as well. I've had a rough 3 years, unexpected expenses that were way beyond my control. So had to use my CC for food and gas. I was very careful but I'm grateful I had it. I paid the whole $600 towards the CC and the nightmare is behind me. I gave myself 18 months to pay it off but this stimulus help just puts me ahead.

Re: Stimulus

SilleeMee — Fri, 01 Jan 2021 16:07:49 GMT

My friend has two adult dependents living with her, her son and also her sister. Both of those adult dependents did not get the stimulus money. Adult dependents are excluded.