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PSA: Stimulus Package Deal Reached. $1200 Or Less To Most Adults And $500 Per Child

276 453 March 25, 2020 at 06:00 AM in Finance (2) Get Los Angeles Times coupons Coupons
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"The latest $2-trillion stimulus bill is expected to include direct payments of $1,200 or less to most adults, loans to businesses and an expansion of unemployment insurance and other aspects of the social safety net. It comes at a time when millions of Americans have been asked to stay away from school and work, and remain inside their homes to reduce the spread of the disease.

The amounts of the one-time payments, which officials hope could go out to Americans as soon as early April, will be based on income reported in 2018 taxes, declining gradually beginning with individuals who made $75,000 or married couples filed jointly who made $150,000. Individuals making $99,000 or above or married couples making $198,000 or more would receive no check. People would also receive an additional $500 per child."

https://www.latimes.com/politics/...oronavirus
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#2
What if I didn't file my 2018 taxes? Can I claim it retroactively?
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#3
Sad.

More hand-outs.

Should've been only 0% loans to Employers to make payroll.

That would've been faster and fair.
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#4
Time to go on a SD spending spree when I get my stimulus check...in the true spirit of how these checks are really going to be used.
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#5
is that Adjusted Gross Income (AGI)?
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#6
Quote from xfree
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is that Adjusted Gross Income (AGI)?
Yes, AGI

https://finance.yahoo.com/news/ra...13371.html

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#7
Under the agreement, individuals who earn $75,000 in adjusted gross income or less would get direct payments of $1,200 each, with married couples earning up to $150,000 receiving $2,400 -- and an additional $500 per each child. The payment would scale down by income, phasing out entirely at $99,000 for singles and $198,000 for couples without children.

Unemployment benefits will grow substantially, and go to many more Americans.

Lawmakers agreed to a significant expansion of unemployment benefits that would extend jobless insurance by 13 weeks and include a four-month enhancement of benefits. At the insistence of Democrats, the program was broadened to include freelancers, furloughed employees and gig workers, such as Uber drivers.
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Last edited by The_Magnificent March 25, 2020 at 12:50 PM.
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#8
nytimes is paywalled, but we probably need a govt agency link for this info. Great thread starter though
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#9
I have 2 over 18 aged kids (18 & 19) who just entered the workforce and have never had or needed to file a tax return, also both elderly parents stopped filing years ago. My questions is, I wonder how they are going to be able to claim this.
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#10
Quote from XBeatzX
:
I have 2 over 18 aged kids (18 & 19) who just entered the workforce and have never had or needed to file a tax return, also both elderly parents stopped filing years ago. My questions is, I wonder how they are going to be able to claim this.
Same.. I have a 97 year old aunt (still living on her own) in the same situation. It's not looking look good she'll receive anything and could use it just as much as anyone else.
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#11
Quote from TattyBear
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Same.. I have a 97 year old aunt (still living on her own) in the same situation. It's not looking look good she'll receive anything and could use it just as much as anyone else.

In '08 if I remember, they required everyone to go back and file a return. Turned into a debacle. I can't imagine they would require that this time around. They need to come up with some sort of website where you can apply using your SS number or something similar.
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#12
Expect inflation to rise
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Last edited by The_Magnificent March 25, 2020 at 12:51 PM.
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#13
What would you guys buy with that check?
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#14
Quote from neoweb
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What would you guys buy with that check?
Guns and ammo...and maybe a 4-wheeler Smilie
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