OFFICIAL 2020 STIMULUS CHECK THREAD

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Joined Jul 22, 2012
Highly encourage anyone who hasn't filed 2018 or 2019 taxes to get a return in ASAP otherwise you'll be waiting a good long time for your check. Checks are going to be the final stage of the payout so you'll be waiting weeks.
I read today that people may not receive their checks until September. Yikes.
 
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Joined Apr 1, 2015
If you earned more in 2019 than 2018 then it would make sense to wait to file taxes right? Also what can you do if you don’t receive the check or deposit?
 
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Joined Sep 28, 2004
I thought the $600 unemployment checks were done through your own state, and $600 is the maximum (isn’t it 60% of ones regular weekly wage)?

I hear these politicians talking about how some are making more NOT working than working. How is this possible?

To answer OPs question, efiled online and usually receive refund via bank account. Still nothing as far as this $1200.
Just be careful with this so called free money. Come next year, it may be taxed oddly or they may deem you ineligible for other credits or breaks. I’m gonna consider it a part of your gross income, and will take more out for my 401k to match my ideal tax bracket.
 
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Joined Feb 13, 2016
If you earned more in 2019 than 2018 then it would make sense to wait to file taxes right? Also what can you do if you don’t receive the check or deposit?
Not if It didn't push you past the 75k income limit. If it did then yeah it might make sense to hold and wait for payment. If you don't receive your check or deposit within the scheduled time (they are supposed to be sending a letter to your last know mailing address confirming the deposit) then you'll need to follow up with the IRS directly because your payment has either been mailed to an incorrect address or ACH deposited into an old or closed bank account.
 
62,790
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Joined May 23, 2005
Come next year, it may be taxed oddly
its not taxed
just like the last one in 08
u wont get taxed on it
i still remember getting my stimulus in 08
except i got my check mailed
took forever
but no extra tax for the next year on it
 
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Joined Apr 18, 2004
so can someone clarify: if you get a check, will the amount be deducted from your tax return next year?
No even though it is an "advanced credit" they will not deduct anything from your 2020 return. They are just giving it to you early, so another interesting fact is that if they "overpaid" you on the stimulus (you can play games by not filing your 2019 return if you don't quality and they will go off 2018) they won't try to "clawback" the over payment on your 2020 return. They will also "true up" the credit on your 2020 return meaning that if you weren't supposed to get it based on 2018 and 2019 numbers but they fall in line for 2020 they will add the stimulus to your 2020 return.
 
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Joined Apr 18, 2004
So it seems like everyone is assuming the government know all of our current account numbers? What if you closed your account since you did your taxes???
They are supposedly rolling out a website soon to update your routing and account number, if you didn't file 2019 yet I would advise to do so right away and put current direct deposit info. If you closed your account after your 2019 return was filed you might be SOL and they will probably mail it to you. This also wasn't very thought out because people change accounts year to year, people get divorced, people move this is a disaster waiting to happen especially from the IRS who is a disaster to deal with (I am a CPA that deals with them on a daily basis but they are closed right now).
 
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Joined Jun 16, 2005
I still don't believe it's happening and if it does there's gonna be some strings attached that we will find out about in the future or it's gonna be taxed right off the jump so instead of $1,200 it's like $960. This government just ain't about giving away free money to non super rich people.
 
62,790
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Joined May 23, 2005
No even though it is an "advanced credit" they will not deduct anything from your 2020 return. They are just giving it to you early, so another interesting fact is that if they "overpaid" you on the stimulus (you can play games by not filing your 2019 return if you don't quality and they will go off 2018) they won't try to "clawback" the over payment on your 2020 return. They will also "true up" the credit on your 2020 return meaning that if you weren't supposed to get it based on 2018 and 2019 numbers but they fall in line for 2020 they will add the stimulus to your 2020 return.
i dont remember them doing that to my 2008 stimulus
not saying ur wrong
but u dont have to pay it back
and everyone who has a job qualifies
 
62,790
48,960
Joined May 23, 2005
I still don't believe it's happening and if it doesn't there's gonna be some strings attached that we will find out in the future or it's gonna be taxed right off the jump so instead of $1,200 it's like $960. This government just ain't about giving away free money to non super rich people.
it does not get taxed
stop throwing out stuff u dont know anything about
AGAIN
the 2008 stimulus checks were exactly the amount they said
and they werent taxed
or had to be paid back
and why wouldnt it happen
bill already passed
i know a majority of folks prolly was youngins during the last one
so dont remember that stimulus check
but i remember
and they sent those in waves as well
 
1,057
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Joined Feb 13, 2016
I still don't believe it's happening and if it does there's gonna be some strings attached that we will find out about in the future or it's gonna be taxed right off the jump so instead of $1,200 it's like $960. This government just ain't about giving away free money to non super rich people.
It's happening and there is no repayment nor is there any tax consequence. It's free money fam. You don't want yours im sure you can find someone to donate it too but it's coming lol.
 
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Joined Oct 1, 2019
My question is will folks who owe taxes get a check? I’m a little reluctant giving them letter boys my bank info you dig.. how long till them checks get sent out?

not to be greedy but we need a check every month of this shutdown bs for interrupting our lives.
 
62,790
48,960
Joined May 23, 2005
My question is will folks who owe taxes get a check? I’m a little reluctant giving them letter boys my bank info you dig.. how long till them checks get sent out?

not to be greedy but we need a check every month of this shutdown bs for interrupting our lives.
yes u will get a check
owing has nothing to do with this stimulus check
 
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