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03-28-2020 11:37 AM - edited 03-28-2020 11:58 AM
From today's Atlanta newspaper:
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Who Qualifies for a Stimulus Check?
A Social Security number is required to receive a payment, reports the Wall Street Journal.
According to pages 144 and 145 of the 880-page rescue plan, nonresident aliens, those who can be claimed on someone else’s tax return as a dependent, and estates or trusts are all excluded.
In addition, an earnings threshold based on adjusted gross income will mean no checks for some Americans.
How Much Money Will I Receive?
The coronavirus relief package provides direct cash payments of up to $1,200 for most adults — or $2,400 for married couples filing jointly — plus $500 per child under 17.
To get the full amount, your adjusted gross income on your 2019 tax return (or 2018, if you haven’t already filed for 2019) must not exceed the following:
(Note: Find your adjusted gross income on line 8b of Form 1040)
If you make too much money to receive the full amount, you may still receive a smaller check. Reduced stimulus payments will go out to individuals who make up to $99,000 and married couples who make up to $198,000.
For those who are expecting a reduced payment, use this calculator from the Washington Post to determine what you’ll likely get.
Are Retirees and Social Security Recipients Eligible?
Most people who receive Social Security retirement and disability benefits will get a stimulus payment.
For those who haven’t filed taxes in 2019 or 2018 (many Social Security recipients don’t have to), the government will use data from the following forms to determine your amount:
To be clear, if you fall into this category, you don’t have to file a federal tax return to get a check.
When Will I Receive My Stimulus Payment?
Treasury Secretary Steven Mnuchin has said that he hopes Americans will begin to receive their checks in about three weeks, but other reports indicate that it could take longer.
If you gave direct deposit information to the IRS on your 2018 or 2019 taxes, the payment will be made electronically.
For those who don’t have direct deposit set up with the IRS or have changed banks, you could be waiting longer for your payment to be issued by mail. It will be sent to the address on file with the IRS.
For non-filers, the IRS posted the following message on its website and urged immediate action:
“The IRS encourages anyone with a tax filing obligation who hasn’t filed a tax return for 2018 or a previous year to act now.
Pending legislation includes certain potential credits and rebates for those who have filed a return for 2018 and/or 2019. Those without 2018 tax filings on record could potentially affect mailings of stimulus checks.”
03-28-2020 11:44 AM
Woohoo!! Show me my tax money back! It will make up some for my paltry refund. I was Oliver Twist looking at that amount in January. Really, sir? There's no more?
03-28-2020 12:02 PM
03-28-2020 12:19 PM - edited 03-28-2020 01:04 PM
I am a retiree and planned financially for any unforseen situation, so I guess this one qualifies for an "unforseen situation". This is not a Stimulus Pkg, it is a Corona Virus Relief Pkg and I do not need a check, as I am sure many others do not. My gross per 2018 taxes was just over the individual $level. I would much prefer to have seen more funding for health workers, doctors, first responders, truckers and people in the grocery area plus others who are keeping this country running right now rather than funds to anything that is not relevant to this health crisis of which there was way too much...this cost is on our backs and that of future generations!
03-28-2020 12:29 PM
03-28-2020 12:32 PM
@Stray Had to give you extra ❤️❤️❤️❤️ For that.
03-28-2020 12:36 PM - edited 03-28-2020 12:38 PM
I don't need the stimulus and have decided that I'm donating the money.
03-28-2020 12:46 PM
I think it may not be the wisest move to do anything with the stimulus money if you don't "need" it now, because no one knows what the landscape will look like in the fall. I fully expect food prices to get much higher, for one thing, and everyone needs to eat. That means that even if you don't need the money then, someone else will need it even more than they do right now, because they'll also be getting the $1,200. We're coming out of a heating season but will be going into a new one then, and we have no idea what the cost of electricity, propane, natural gas, and #2 oil/kero will be at that time. One thing we can count on is that LIHEAP and other sources of assistance will be exhausted early, meaning those without means will need help.
I applaud the generosity and unselfishness of those who want to share their gains. I'm just suggesting employing a little strategic thinking here.
03-28-2020 01:13 PM - edited 03-28-2020 01:14 PM
My income and savngs will cover any increases ... and there are organizations that need the money NOW.
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@noodleann wrote:I think it may not be the wisest move to do anything with the stimulus money if you don't "need" it now, because no one knows what the landscape will look like in the fall. I fully expect food prices to get much higher, for one thing, and everyone needs to eat. That means that even if you don't need the money then, someone else will need it even more than they do right now, because they'll also be getting the $1,200. We're coming out of a heating season but will be going into a new one then, and we have no idea what the cost of electricity, propane, natural gas, and #2 oil/kero will be at that time. One thing we can count on is that LIHEAP and other sources of assistance will be exhausted early, meaning those without means will need help.
I applaud the generosity and unselfishness of those who want to share their gains. I'm just suggesting employing a little strategic thinking here.
03-28-2020 01:23 PM
@ALRATIBA wrote:
My income and savngs will cover any increases ... and there are organizations that need the money NOW.
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@noodleann wrote:I think it may not be the wisest move to do anything with the stimulus money if you don't "need" it now, because no one knows what the landscape will look like in the fall. I fully expect food prices to get much higher, for one thing, and everyone needs to eat. That means that even if you don't need the money then, someone else will need it even more than they do right now, because they'll also be getting the $1,200. We're coming out of a heating season but will be going into a new one then, and we have no idea what the cost of electricity, propane, natural gas, and #2 oil/kero will be at that time. One thing we can count on is that LIHEAP and other sources of assistance will be exhausted early, meaning those without means will need help.
I applaud the generosity and unselfishness of those who want to share their gains. I'm just suggesting employing a little strategic thinking here.
Great that you are so well-heeled, @ALRATIBA. Yes, businesses (organizations) need funds now, but they always need funds. My point is that chances are very good that this fall, things will be worse for many human beings--individuals, families--and one's assistance at that time will have a far greater impact. I'm thinking about PEOPLE and direct help that has a 100% positive impact, not ORGANIZATIONS, where a percentage almost invariably goes to overhead. Again, my post is about PEOPLE. People are being hurt, and people come first, IMO. YMMV.
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