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Coronavirus/Covid-19 Discussion Thread


Toups

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An agreement on the stimulus bill was made early this morning. It will be a one time payment of $1,200 to anyone who has an income up to $75,000. Lower income people who don't make much will also get the full $1,200. 

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I agree. It didn't make sense that lower income people would less like $600 in one of the earlier proposals. I'm glad that lower income people will get the full amount. This will help most working people.

 

Now.granted some people that have been unemployed for a while and have things like SSI benefits are upset because they aren't getting anything. As well as people who were claimed as dependents on tax returns (like grown college students). It would have been nice if they would have gotten something as well. But I am at least glad working lower income people will get the full payment.

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I'm not sure that has been ironed out yet. I have heard that if you filed online, and got a refund through direct deposit in 2018, then that will be the way it happens again, and everyone else gets a check in the mail. I think people who flout the system and don't file their taxes may get left out. But that will remain to be seen. Ironically, I'm going to be using mine to pay my social security taxes, since I'm still working. 

Edited by alphanguy74
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From what  I have read it's not something you have to sign up for. You just have had to file either a 2019 or 2018 Tax Return. They will look at the 2019 return first and if that hasn't been filed they will go off of your 2018 return. People definitely need to get one or both of those returns filed if they haven't ready.

 

I also.saw.they will be sending out some paper checks. But also saw like Alphanguy74 mentioned some/maybe a lot people might get it electronically if they provided the IRS with their banking information when they filed their returns electronically. 

 

Edited by xtr
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