Government Checks

[TiltonBB]

Well this is a disappointment!

[8gv]

They can send as many checks as they want.

It will all go into the hole in the water.

[Descant]

I won't get $1000. But if I owned a cruise ship, I could qualify.

[thinkxingu]

Originally Posted by Descant

I won't get $1000. But if I owned a cruise ship, I could qualify.

Crazy, right?
We'll be getting the whole amount, which we've already earmarked for spending in the lakes region...if/when things open again.

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[Susie Cougar]

We won’t be getting a check either. I’m on Social Security, But my husband is still working. He makes too much to qualify. This past year was actually pretty exciting because he could collect his full pay and Social Security with no penalty. He waited until he was 70 to sign up.
My oldest son and his wife and daughter will be getting checks, My youngest son is single and he’ll be getting the full amount. My daughter is a pediatric physical therapist and her husband is a school principal. They will not be getting a check. So, I still don’t quite understand. If you make too much to get an individual check, can you still get a check for your children?

[Hillcountry]

Not sure if we will get checks either...both on SS AND Medicare and wife (was) working part time.
From what I had heard last time numbers were spoken about on the news, it was $1200 for every qualifying ADULT and $500 each child?
What are those numbers today?

[Descant]

Originally Posted by thinkxingu

Crazy, right?
We'll be getting the whole amount, which we've already earmarked for spending in the lakes region...if/when things open again.

Interesting. I thought government employees wouldn't be eligible, because they continued to be paid. If teachers are not paid, will there be a big surplus in every school district budget at the end of the year? That would be nice if it means a lower tax in December.

[MAXUM]

The Stimulus Checks Phase-out at:

$75,000 in adjusted gross income for singles.
$112,500 for heads of household.
$150,000 for married couples (when couples file joint tax returns).
Payment is reduced by five percent of every dollar above that mark, or $50 for every $1,000 above $75,000.


Completely phase out at $99,000 for singles and $198,000 for couples (with no children).


So keep in mind if you file jointly one member can earn more than the 75K and still get the entire amount so long as the jointly filed combined adjusted gross income does not exceed the 150K mark.

[Descant]

Originally Posted by MAXUM

The Stimulus Checks Phase-out at:

$75,000 in adjusted gross income for singles.
$112,500 for heads of household.
$150,000 for married couples (when couples file joint tax returns).
Payment is reduced by five percent of every dollar above that mark, or $50 for every $1,000 above $75,000.


Completely phase out at $99,000 for singles and $198,000 for couples (with no children).


So keep in mind if you file jointly one member can earn more than the 75K and still get the entire amount so long as the jointly filed combined adjusted gross income does not exceed the 150K mark.

So, if my income varies from year to year and I get paid mostly on 1099 how does the treasury know what to send? I haven't filed my 2019 return yet. What about folks who got new, better paying, jobs in 2019. Will they pay me and then take it back when I file my 2020 return?
Complex stuff. No need to answer. We'll wait and see if Congress ever gets it in gear and passes the bill. And then maybe some follow up bills to fix and tweak. "Do it right, do it once.," is not applicable to Congress.

[Doobs41378]

Originally Posted by Descant

So, if my income varies from year to year and I get paid mostly on 1099 how does the treasury know what to send? I haven't filed my 2019 return yet. What about folks who got new, better paying, jobs in 2019. Will they pay me and then take it back when I file my 2020 return?
Complex stuff. No need to answer. We'll wait and see if Congress ever gets it in gear and passes the bill. And then maybe some follow up bills to fix and tweak. "Do it right, do it once.," is not applicable to Congress.

Based off your 2018 return if you haven’t filed 2019 yet I believe.

[Rich]

My tax accountant sent me the following summary today after this passed the house. Maybe this will help to answer someone's questions:

Recovery Rebates

The measure would provide refundable tax credits of as much as $1,200 per individual or $2,400 for couples who file joint tax returns. An additional $500 would be provided for each child.

The credit would be reduced by 5% for the amount a taxpayer’s income exceeds $150,000 for joint returns, $112,500 for heads of household, and $75,000 for other filers.

The rebate would completely phase out for incomes exceeding $198,000 for joint filers, $146,500 for heads of household, and $99,000 for individual filers, according to a summary from the Senate Finance Committee.

The rebate would be based on 2019 taxes, or for individuals who haven’t filed, against their 2018 taxes or 2019 Social Security statements.

Payments would be made through Dec. 31, 2020. They could be delivered electronically to accounts where a taxpayer had authorized deposit of a tax refund or other federal payment on or after Jan. 1, 2018. Notice would have to be sent to the taxpayer within 15 days of sending the payment. Treasury Secretary Steven Mnuchin said during a March 25 White House virus briefing that the department could begin sending payments in as little as three weeks.

A Social Security number would be required to claim the credit, although only one number would be required if one spouse was a member of the Armed Forces.

The measure would establish rules for the credit to be provided in U.S. territories.

The Treasury Department, in coordination with the Social Security Administration, would have to conduct a public awareness campaign.

[Outdoorsman]

Originally Posted by Descant

So, if my income varies from year to year and I get paid mostly on 1099 how does the treasury know what to send? I haven't filed my 2019 return yet. What about folks who got new, better paying, jobs in 2019. Will they pay me and then take it back when I file my 2020 return?
Complex stuff. No need to answer. We'll wait and see if Congress ever gets it in gear and passes the bill. And then maybe some follow up bills to fix and tweak. "Do it right, do it once.," is not applicable to Congress.

I am sure your post was only meant to stir the pot, but I will respond with my opinion anyway.

This money is not meant make people "better off". If you secured a better paying job, good for you and congratulations, you are "better off" today.

HOWEVER; If you live paycheck-to-paycheck, as so many of the people you rely on do.... AND you got laid off from work, you would also need financial help.

I hope the bill that was passed actually DOES stop the kind of windfall payments that a small amount of people are hoping for.


Lastly, I have been there and done that in my younger days, so....
If you have not HAD TO file your tax return by now to get the refund, IMO you are not as financially strapped as those that may need the money. You (we) are not the ones that need the most help.

Selfishness and Greed are disgusting traits in any human! (JMO)

[thinkxingu]

Originally Posted by Descant

Interesting. I thought government employees wouldn't be eligible, because they continued to be paid. If teachers are not paid, will there be a big surplus in every school district budget at the end of the year? That would be nice if it means a lower tax in December.

There are two parts to this: unemployment and stimulus check. The former I am exempt from, the latter is everybody in the income range.

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[Cal Coon]

Originally Posted by Descant

Interesting. I thought government employees wouldn't be eligible, because they continued to be paid. If teachers are not paid, will there be a big surplus in every school district budget at the end of the year? That would be nice if it means a lower tax in December.

I work with a guy who's wife is a school teacher in NH, and she is not working and getting her regular full pay... What a country!!

[FlyingScot]

Originally Posted by Cal Coon

I work with a guy who's wife is a school teacher in NH, and she is not working and getting her regular full pay... What a country!!

Our President is hours(?) away from signing a bill that pays the salaries and idle time of millions of people now sitting at home. Please google COVID-19 Stimulus and let us know if you support it.

Hey Think--I'm glad they're still paying you

[thinkxingu]

Originally Posted by FlyingScot

Our President is hours(?) away from signing a bill that pays the salaries and idle time of millions of people now sitting at home. Please google COVID-19 Stimulus and let us know if you support it.

Hey Think--I'm glad they're still paying you

Thanks, but, for the record, we're still working—providing assignments remotely, holding video lessons, editing work together, etc. Most teachers have just moved to remote learning.

I'm guessing the post above about the teacher not getting paid is either an aid/para or assistant or something. I don't know any teachers not doing work nor not getting paid.

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[Descant]

Originally Posted by Cal Coon

I work with a guy who's wife is a school teacher in NH, and she is not working and getting her regular full pay... What a country!!

Hmph. At the same time, first responders are putting in excess overtime just to cover shifts?

[Cal Coon]

Originally Posted by Descant

Hmph. At the same time, first responders are putting in excess overtime just to cover shifts?

I stand corrected on my statement in post #14. I just found out yesterday that she is conducting 3 different classes "on line", and working full time from home. My bad.

[Cal Coon]

Originally Posted by thinkxingu

Crazy, right?
We'll be getting the whole amount, which we've already earmarked for spending in the lakes region...if/when things open again.

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if???? You really think this could go on forever..., REALLY??? I got a bridge for sale that covers the whole lake, North/South, (but I can make it go East/West if you prefer!!) if you're interested. This will be over (a lot) sooner than you think IMHO. I have a simple question for anyone that cares to answer. Why was there no panic, NOTHING "shut down" in 2009 during the H1N1 pandemic? The corona virus right now, is no where near as bad as the H1N1 ended up, (yet), but, if they have already shut down as much as already has been shut down at this stage of the corona virus, why didn't the same thing happen for the H1N1? It's a rhetorical question, just curious for some explanations from other's... This is just a hunch, I could be wrong, but i would bet a week's pay that the corona virus doesn't get as bad as the H1N1 virus did in this country, and NOTHING was shut down back then, not even for an hour. Go figure...

[thinkxingu]

Originally Posted by Cal Coon

if???? You really think this could go on forever..., REALLY??? I got a bridge for sale that covers the whole lake, North/South, (but I can make it go East/West if you prefer!!) if you're interested. This will be over (a lot) sooner than you think IMHO. I have a simple question for anyone that cares to answer. Why was there no panic, NOTHING "shut down" in 2009 during the H1N1 pandemic? The corona virus right now, is no where near as bad as the H1N1 ended up, (yet), but, if they have already shut down as much as already has been shut down at this stage of the corona virus, why didn't the same thing happen for the H1N1? It's a rhetorical question, just curious for some explanations from other's... This is just a hunch, I could be wrong, but i would bet a week's pay that the corona virus doesn't get as bad as the H1N1 virus did in this country, and NOTHING was shut down back then, not even for an hour. Go figure...

I meant "if" as in "if" things move forward during the time we'll be up north or the places in our area/that we frequent are still open. I'm not confident it's gonna be as smooth as you suggest.

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[Cal Coon]

Originally Posted by thinkxingu

I meant "if" as in "if" things move forward during the time we'll be up north or the places in our area/that we frequent are still open. I'm not confident it's gonna be as smooth as you suggest.

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I'm not saying it's going to be "smooth", (the media/ Democrats will see to that), I just think it will not be as bad as is currently being "predicted" by some. One of the things that doesn't get mentioned every time you hear that the U.S. has the most corona virus cases in the world right now, is that we don't have the most deaths!! I believe that is a testament to our superior health care system that the media refuses to report, as well as anything else "positive" that is going on. I find that extremely curious... We all know why, and that is probably why no one wants to address my question in post #13.

[thinkxingu]

Originally Posted by Cal Coon

I'm not saying it's going to be "smooth", (the media/ Democrats will see to that), I just think it will not be as bad as is currently being "predicted" by some. One of the things that doesn't get mentioned every time you hear that the U.S. has the most corona virus cases in the world right now, is that we don't have the most deaths!! I believe that is a testament to our superior health care system that the media refuses to report, as well as anything else "positive" that is going on. I find that extremely curious... We all know why, and that is probably why no one wants to address my question in post #13.

Because of today's technology and shutdowns, we'll never know how bad CV-19 could have been.

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[Cal Coon]

Originally Posted by thinkxingu

Because of today's technology and shutdowns, we'll never know how bad CV-19 could have been.

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So I guess we'll never know how many lives could of been saved back in 2009 during the H1N1 virus, since nothing was shut down, and there was no panic. Would that be an accurate statement? And, if lives are saved as a result of the shutdown, will anyone get any credit for it, and if so, who??

[thinkxingu]

Originally Posted by Cal Coon

So I guess we'll never know how many lives could of been saved back in 2009 during the H1N1 virus, since nothing was shut down, and there was no panic. Would that be an accurate statement?

Exactly, which is why each threat needs to be looked at independently and with the current social systems in mind.

History will show if the approaches we've taken made sense.

Personally, I think there's a balance to be found but that Americans—as seen in so many things—don't necessarily love moderation.

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[Cal Coon]

Originally Posted by thinkxingu

Exactly, which is why each threat needs to be looked at independently and with the current social systems in mind.

History will show if the approaches we've taken made sense.

Personally, I think there's a balance to be found but that Americans—as seen in so many things—don't necessarily love moderation.

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Will history show who would of been to blame for all the needless deaths back in 2009 during the H1N1 pandemic, for NOT shutting down the economy?? Or, should the old cliche, (I know how much you love cliche's!!), "at this point, what difference does it make anyways", come in to play...???

[thinkxingu]

Originally Posted by Cal Coon

Will history show who would of been to blame for all the needless deaths back in 2009 during the H1N1 pandemic, for NOT shutting down the economy?? Or, should the old cliche, (I know how much you love cliche's!!), "at this point, what difference does it make anyways" come in to play...???

Huh? What are you even talking about? And why are you even comparing? Almost every epidemiologist has said the two aren't comparable. https://theconversation.com/coronavi...to-come-134076

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[Cal Coon]

Originally Posted by thinkxingu

Huh? What are you even talking about? And why are you even comparing? Almost every epidemiologist has said the two aren't comparable. https://theconversation.com/coronavi...to-come-134076

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I think you know exactly what I'm talking about, but in typical Liberal fashion, you don't want to have the debate because you know you can't win, so you plead ignorance. Funny, (not really), how hypocrisy never sticks to the Left. I know, another political post, but politics is in every aspect of our lives, like it or not.

[thinkxingu]

Originally Posted by Cal Coon

I think you know exactly what I'm talking about, but in typical Liberal fashion, you don't want to have the debate because you know you can't win, so you plead ignorance. Funny, (not really), how hypocrisy never sticks to the Left. I know, another political post, but politics is in every aspect of our lives, like it or not.

Actually, no—I really can't understand what you're trying to say in that last post or what point you're trying to make. And, since we're labeling, that's typical Cal Coon fashion.

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[Cal Coon]

Originally Posted by thinkxingu

Actually, no—I really can't understand what you're trying to say in that last post or what point you're trying to make. And, since we're labeling, that's typical Cal Coon fashion.

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I will pm you my number if you really want to know what I'm talking about. If we keep on going on this forum, it will just get shut down... (again).

[kawishiwi]

Originally Posted by Cal Coon

Will history show who would of been to blame for all the needless deaths back in 2009 during the H1N1 pandemic, for NOT shutting down the economy?? Or, should the old cliche, (I know how much you love cliche's!!), "at this point, what difference does it make anyways", come in to play...???

You are emabarassing yourself. H1N1 was much less dangerous. In the U.S., over the course of 1 full year it killed about 12 to 14k. COVID-19 is about going to double that in April alone.

[Cal Coon]

Originally Posted by kawishiwi

You are emabarassing yourself. H1N1 was much less dangerous. In the U.S., over the course of 1 full year it killed about 12 to 14k. COVID-19 is about going to double that in April alone.

Ok Einstein. We'll see who ends up embarrassed... The question is, will you have the scrotum to take your medicine (on this forum), if, and when, time proves you wrong??? I already admitted that "I could be wrong", it's just my hunch. BTW, how embarrassing is it that you can't even spell the word "embarrassing" correctly, huh, Einstein??? Go away. The only time you seem to post lately is to insult me in some form or fashion. Am I living rent free inside your warped little mind for some reason...???

[The Real BigGuy]

From what I’ve read being on SS and Medicare does not preclude you from receiving the stimulus check. It is based on your 2018 tax return. One site said if your tax liability was below $600 you would get $600 if it is above 1200 you get 1200. (Doubled if married filing jointly). No mention of what happens if in between.

I’m assuming regardless what you get it will be taxable income for 2020.


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[bobkatfly]

"It is based on your 2018 tax return."

Hi TRBG. I believe it's based on your 2019 return providing you've already submitted it. If you haven't submitted it then it will be based on 2018.

[thinkxingu]

Another note I've read: unlike Bush's stimulus checks, these will not be taxable as income on 2020's returns UNLESS the recipient makes over the $75k/$150k limits.

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[Hillcountry]

Okay, thanks all! Looks like we will get checks as we certainly aren’t above $150k jointly.

[WinnisquamZ]

Big assumption you are making knowing it has to go through the House


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[The Real BigGuy]

2 things: 1)some people are covered by contracts that require them to be paid regardless. Good job of contract negotiation. 2) I don’t know about everyone else but I’m sick of the comparison to N1H1. Different times & things like people’s views change.


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[The Real BigGuy]

Cal - lighten up!!!


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[Cal Coon]

Originally Posted by The Real BigGuy

Cal - lighten up!!!


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I thought I was being nice, holding back quite a bit... Could of been a lot worse. lol

[thinkxingu]

Define irony: someone who continues to use "should of" (among many other errors) calling someone out for a misspelling.

Cal, missed our call yesterday, but I was jammed most of the day...and then it occurred to me that I had no idea what we were supposed to talk about, so I made BBQ chicken nachos instead.

Cheers!

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[Cal Coon]

Originally Posted by thinkxingu

Define irony: someone who continues to use "should of" (among many other errors) calling someone out for a misspelling.

Cal, missed our call yesterday, but I was jammed most of the day...and then it occurred to me that I had no idea what we were supposed to talk about, so I made BBQ chicken nachos instead.

Cheers!

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I have no missed call from you. PM me your number and I will call you. We can talk about the weather, and see where it goes from there... Cheers!!

[thinkxingu]

Originally Posted by Cal Coon

I have no missed call from you. Send me your number and I will call you. We can talk about the weather, and see where it goes from there... Cheers!!

No, I mean I wasn't able to call you.

Just came back from a drive to camp (let the "shelter-in-place" critique ensue), so I'm done for the afternoon, but we'll connect sooner than later.

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