OFFICIAL 2020 STIMULUS CHECK THREAD

41,874
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Joined Aug 6, 2012
IRS plan: 50 million Americans to receive first stimulus payout today


The next wave of money will be paid no later than the week of April 20. The third and final round is dedicated to payments being made through check. Those will be mailed at an undetermined date.

Groups of checks would be then mailed over the next several weeks. It could take until May or August for recipients to see the money.

 
12,393
10,669
Joined Nov 2, 2006
Wheres the link to update banking info?
I had my mom call them to provide the info. I ain't want her to miss the boat. Had her call IRS, wait on hold forever, to provide bank routing and all that. You could wait for the site, but they doing it now by phone. I nagged her all week cus I ain't want her waiting 5 months for a check that mite get jooxed.
 
18,688
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Joined May 25, 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.
the federal government is giving out 600 dollars a week to the state on top of whatever the state gives you. So you get your regular unemployment in one deposit, then the state gives you your 600 from the federal government in another deposit.

every state’s base unemployment is different. It’s not like it’s automatically 60%. Some states cap at like 300 bucks a week max.

yes some people with lower paying jobs will make more not working than working. Who cares? Isn’t that the whole point of this? To not work and slow the spread and prevent everyone from going broke.
 
12,236
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Joined Sep 28, 2004
Definitely not hating. Just wondering how gaming the system is working. My state just threw out a $750 stimulus for the first 2,000 entrants who may not qualify for regular unemployment. I'm hearing of many trying to get both. It doesn't hurt to try it all out and see where the government misses.

There's so much out there to try and dissect. It's too bad these places couldn't have stayed active and given their people regular wages, and those loans would've been forgiven. That cuts out the unemployment middleman.
 
5,442
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Joined Mar 1, 2011
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
I remember mine, got a check :lol:
 
12,393
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Joined Nov 2, 2006
the federal government is giving out 600 dollars a week to the state on top of whatever the state gives you. So you get your regular unemployment in one deposit, then the state gives you your 600 from the federal government in another deposit.

every state’s base unemployment is different. It’s not like it’s automatically 60%. Some states cap at like 300 bucks a week max.

yes some people with lower paying jobs will make more not working than working. Who cares? Isn’t that the whole point of this? To not work and slow the spread and prevent everyone from going broke.
All correct. Just want to add the additional $600 fed money is only for 4 months (at this point anyway)
 
18,688
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Joined May 25, 2004
Only way to game unemployment In mn is to work for cash. They even find out if you use vacation time. They’ve audited me every year, they don’t play.
 
17,005
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Joined Dec 23, 2003
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.

So even if you didn't file for both years and you don't have direct deposit you will get the stimulus money it will just take a while for you to get a check

correct ?
 
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62,876
49,201
Joined May 23, 2005
Here is what you need to know about your Economic Impact Payment. For most taxpayers, payments are automatic, and no further action is needed. This includes taxpayers who filed tax returns in 2018 and 2019 and most seniors and retirees.



Who is eligible?
U.S. residents will receive the Economic Impact Payment of $1,200 for individual or head of household filers, and $2,400 for married filing jointly if they are not a dependent of another taxpayer and have a work eligible Social Security number with adjusted gross income up to:
  • $75,000 for individuals
  • $112,500 for head of household filers and
  • $150,000 for married couples filing joint returns
Taxpayers will receive a reduced payment if their AGI is between:
  • $75,000 and $99,000 if their filing status was single or married filing separately
  • 112,500 and $136,500 for head of household
  • $150,000 and $198,000 if their filing status was married filing jointly
The amount of the reduced payment will be based upon the taxpayers specific adjusted gross income.
Eligible retirees and recipients of Social Security, Railroad Retirement, disability or veterans' benefits as well as taxpayers who do not make enough money to normally have to file a tax return will receive a payment. This also includes those who have no income, as well as those whose income comes entirely from certain benefit programs, such as Supplemental Security Income benefits.
Retirees who receive either Social Security retirement or Railroad Retirement benefits will also receive payments automatically.


Who is not eligible?
Although some filers, such as high-income filers, will not qualify for an Economic Impact Payment, most will.
Taxpayers likely won't qualify for an Economic Impact Payment if any of the following apply:
  • Your adjusted gross income is greater than
    • $99,000 if your filing status was single or married filing separately
    • $136,500 for head of household
    • $198,000 if your filing status was married filing jointly
  • You can be claimed as a dependent on someone else’s return. For example, this would include a child, student or older dependent who can be claimed on a parent’s return.
  • You do not have a valid Social Security number.
  • You are a nonresident alien.
  • You filed Form 1040-NR or Form 1040NR-EZ, Form 1040-PR or Form 1040-SS for 2019.


How much is it worth?
Eligible individuals with adjusted gross income up to $75,000 for single filers, $112,500 for head of household filers and $150,000 for married filing jointly are eligible for the full $1,200 for individuals and $2,400 married filing jointly. In addition, they are eligible for an additional $500 per qualifying child.
For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$112,500/$150,000 thresholds. Single filers with income exceeding $99,000, $136,500 for head of household filers and $198,000 for joint filers with no children are not eligible and will not receive payments.


Do I need to take action?
People who filed a tax return for 2019 or 2018
No additional action is needed by taxpayers who:
  • have already filed their tax returns this year for 2019. The IRS will use this information to calculate the payment amount.
  • haven’t filed yet for 2019 but filed a 2018 federal tax return. For these taxpayers the IRS will use their information from 2018 tax filings to make the Economic Impact Payment calculations.
People who aren't typically required to file a tax return
Social Security and Railroad Retirement recipients who are not typically required to file a tax return need to take no action. The IRS will use the information on the Form SSA-1099 and Form RRB-1099 to generate Economic Impact Payments of $1,200 to these individuals even if they did not file tax returns in 2018 or 2019. Recipients will receive these payments as a direct deposit or by paper check, just as they would normally receive their benefits. Social Security Disability Insurance (SSDI) recipients are also part of this group who don't need to take action.
For Social Security, Railroad retirees and SSDI who have qualifying children, they can take an additional step to receive $500 per qualifying child.
There are other individuals such as low-income workers and certain veterans and individuals with disabilities who aren’t required to file a tax return, but they are still eligible for the Economic Impact Payments. Taxpayers can check the IRS.gov tool - Do I Need to File a Tax Return? - to see if they have a filing requirement.
The IRS will soon provide guidance for these individuals on the steps to take to get their payment as soon as possible.


Payment recipients: watch for an IRS letter
For security reasons, the IRS plans to mail a letter about the economic impact payment to the taxpayer’s last known address within 15 days after the payment is paid. The letter will provide information on how the payment was made and how to report any failure to receive the payment. If a taxpayer is unsure they’re receiving a legitimate letter, the IRS urges taxpayers to visit IRS.gov first to protect against scam artists.
 
38,929
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1,057
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Joined Feb 13, 2016
Nothing today fam. Looking like Monday at the earliest now (Fed has come off the "only on Fridays" thing). I'll post more when I get more details.
 
39,548
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Joined May 15, 2003
If you haven't filed, update your IRS info here for the stimulus check

 
18,688
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Joined May 25, 2004
Didn’t get it, do I get another 500 for claiming my daughter on taxes then if I’m reading that correctly?
 
7,707
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Joined Jul 20, 2002
Nothing today fam. Looking like Monday at the earliest now (Fed has come off the "only on Fridays" thing). I'll post more when I get more details.
I read a story yesterday that the payments won't hit accounts till the 14th/15th.

The IRS also announced that they will be launching the "Get My Payment" tool by the 17th. This will allow you to check the status of your payment as well as update DD info. I owed this year and failed to include my DD info on the form so I'll use this tool. Looks like the IRS has sped this process up pretty quickly.
 
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