[Kenswing]

Originally Posted by Chatbrat

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

Originally Posted by DianeM

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.

[Rapscallion St Croix]

Originally Posted by Chatbrat

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

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

[DianeM]

Originally Posted by Kenswing

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. Not many people in that position but I'm sure they're out there.

Okay.

[John_W]

Originally Posted by Chatbrat

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

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

[queasy27]

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.

[John_W]

Originally Posted by queasy27

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.

[Villageswimmer]

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?

[Topspinmo]

Originally Posted by Medtrans

We’re not all in the same boat. We have no pension and live off our savings and social security. We are good with our finances but we will use our money to stimulate the economy. Isn’t it better to use the restaurants, shops, travel, etc.? It gives jobs back.

TRAVEL? That’s what got us into this?

[OrangeBlossomBaby]

Originally Posted by John_W

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


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

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.

[Chatbrat]

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

[Jayhawk]

Originally Posted by Chatbrat

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

Incredible. And wrong.

[ColdNoMore]

Originally Posted by Kenswing

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.

Ummm, you may want to change the batteries in your calculator.

Assuming that the principal is somehow magically refilled and the $10M remains constant, a 5.25% annual interest on that $10M = $525,000 per year... or about $10.1K "per week."

Not "per month."

[ColdNoMore]

Originally Posted by Chatbrat

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

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

[Kenswing]

Originally Posted by ColdNoMore

Ummm, you may want to change the batteries in your calculator.

Assuming that the principal is somehow magically refilled and the $10M remains constant, a 5.25% annual interest on that $10M = $525,000 per year... or about $10.1K "per week."

Not "per month."

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

Welcome back..

[ColdNoMore]

Thank you.