That's a helluva bold statement. You are clueless as to people's history. You don't know who put 5 or 6 kids through college or had a parent that required costly attention. Or maybe themselves had a costly medical issue.

I really don't understand how some people who don't know squat can be so judgmental.

And by the way if you are giving your stimulus to others, just DO IT but don't come on here and brag about it. Too self-serving.

:bigbow: I remember comments on one of the first stimulus threads here where people were saying nobody on social security should receive a check since they were getting by before and "nothing's changed"

Welp, grocery prices are going up for one thing.

Grocery prices increasing significantly on certain items during pandemic :: WRAL.com

Heck, if this thing goes on for 18 months as some predict, your hand sanitizer bill alone could be $1200.

That is an absolutely wonderful post.

I'm giving mine to my daughter who just got "furloughed" after working for the same mega corp for 20 years. What it really means is that it's a convenient time for them to shed employees who are at the top of their pay scale.

Well said.

...

If your adjusted gross income is $75k or above you won’t get a check

It's not determined by how much you get paid in a job or receive in social security. It is your adjusted gross income. That includes wages, dividends, capital gains, interest, and retirement investments.

If your "net worth" is over a million bucks, it's not likely you have most of it in cash stuffed under a mattress. You likely have it invested. And it's earning interest. If, at the end of the year, your AGI is over $75,000, you're not getting a check. If you and your significant other have an AGI over $150,000 combined, then you're not getting a check.

You don't have to be poor to get a check. And you don't have to simply live off a modest social security check to qualify for it. You have to count ALL your revenue streams.

Texas Holdem $1200 buy in

Not quite. After $75k out to $99k the amount is prorated down by a percentage. After $99k, then payments stop.

[QUOTE=OrangeBlossomBaby;1748810]

... If, at the end of the year, your AGI is over $75,000, you're not getting a check.



Not quite. Up to $75k you get the full $1200. After that, up to $99k, the amount is prorated down until after $99k, you do not get a check.

You can double that to 150K and get 2400 if married filing jointly.

good times
 

Let the good times roll....:coolsmiley::a040::MOJE_whot:

more
 

Cant wait for the second check,maybe itll be more....:bigbow::coolsmiley:

Thanks for the clarification on that. I'd forgotten it was reduced over 75k. It does have a limit though - and it's still not likely that someone with a net worth of over a million dollars will get a check, even if they're "living off" their social security. Possible, but not likely because it's based on AGI and not what you're using to pay the bills.

No, not true at all. It depends on how your money is invested and, if it is qualified money, whether you are taking distributions yet. Whether you are taking distribution from qualified money is a function of your age and other investments that may not be producing taxable income. It is not all that different than Obamacare. You can get a subsidy with a very high net worth depending on how your money is invested.

What would you say to a person who is getting $10K week in tax free interest who is eligible to get a check ? It can happen

It should have a limit absolutely.

I would say that someone always figures out a scam

Not a scam at all. If someone invested $10 million in tax free municipal bonds at 5.25% they would be getting $10,000 a month tax free. Making them still eligible for a check Not many people in that position but I'm sure they're out there.

I would ask them if they would be interested in a $1000.00 Nassau.

Okay.

From the IRS Stimulus Website:

You will get the full amount for the stimulus check if your Adjusted Gross Income (AGI) is:

$75,000 or less for single filers
$150,000 or less for married couples filing jointly with no children
$112,500 or less for heads of household


Now, I'm no math genius, but I've been doing my taxes for 20 years using Turbotax and even I know the AGI (Adjusted Gross Income) is what's on line 37 of your 1040. That's all that really matters. It's only based on what you tell the IRS every year.

Those who have filed taxes with the IRS but haven't given them your checking account because you never got a refund. You can go the IRS website and give them the info and set up an account. I attempted that earlier, you'll need a cell phone, but when I attempted it wouldn't accept my cellphone I guess because it's a prepaid phone, which I've had for years. Here's the link.

Economic Impact Payments | Internal Revenue Service

For those of us who filed taxes and are unable to setup an IRS account, you will be mailed a paper check. You can check the status of that without a cell phone. I found out that my check will be mailed April 24.

Get My Payment | Internal Revenue Service

Thanks for the info, John_W.

I went to the link and after entering my info, was told that my check is scheduled to be mailed in a few days. Fine, whatever. But we were told that social security recipients who have direct deposit info on file would be getting direct deposits. Not so for me at least.

You would think so, but it's all in the IRS hands, so it's what they have on file.

One thing I haven’t seen mentioned here is that if you owed money (as opposed to a refund), even though the amount owed was debited from your bank account by the IRS, they do not have your bank info for the purpose of the stimulus. If you want the stimulus direct deposited, you need to get on their site and enter your bank info, etc. Otherwise, they mail a check.

Apparently, they retain bank info when a refund is involved but purge it if a payment is taken from your account. I double checked this, thinking perhaps I mailed them a check, but sure enough, the IRS did debit my account for the tax payment due. Incongruous, huh?

TRAVEL? That’s what got us into this?

Not everyone can find out the status.

When we filed, in April 2018 in Connecticut for our 2017 tax year, we filed electronically. We got a refund electronically deposited to our accounts.

When we filed, in April 2019 in Connecticut for our 2018 tax year, we filed by mail and NOT electronically because we had to get help from AARP, our situation was too complicated to do it ourselves. We had to pay, and paid by check.

When we filed, two weeks ago, in Florida, for our 2019 tax year - of which 10 months were spent residing in Connecticut and 2 months residing in our new home in Florida - we filed electronically and we owe. We will be paying by check at some point before the delayed deadline.

When I look up my status, I try first with my current address, it says it can't determine eligibility. I try next with my previous address, and get the same message.

I'm assuming we'll get a paper check at some point, eventually, but the website doesn't offer any way for us to find out.

Kenswing -5.25%= $250,000. /yr + = $20 K a month, don't ask how I know

Incredible. And wrong.

I'm also not going to ask where/how...you were taught simple math. :oops:

BFD.. Chat initially referenced $10,000 per week. I calculated it per week but made the huge mistake of typing month..

Welcome back.. :ohdear:

Thank you. :ho:

I haven’t been stimulated yet, lol

Same here. With no way to "update" bank info. Since we owed the last four years, they cannot accept the bank info they took the money from. Go figure.

I prepared and filed a 2019 tax return for a friend who owed money. I included the bank information on the return and the IRS collected it electronically. But, when I went to check the stimulus money status a few weeks later, there was no bank information, but there was a data page that allowed me to enter the AGI and the bank information. The next day, the IRS site said that the stimulus money will be deposited into the bank electronically, and included the last 4 digits of the bank account that I had entered the day before.

Same experience here.

Thanks. I think the difference being is that our deduction isn’t scheduled until July.