Now checks are $850? What happened to $1200?

[WhiteTara]

screwed even worse.

[MontanaMama]

1. A one bedroom apartment here in Missoula

costs more than $850 a month.

[elleng]

2. 1200 per person.

Don't know where $850 comes from.

[WhiteTara]

3. chuckie the toad.

[elleng]

5. I think we'll hear more from others,

900 page bill contains lots of details.

[WhiteTara]

19. I hope so. And Chuckie is not exactly

reliable. It sort of made my heart jump and I wanted some reality. Thanks.

[NickB79]

4. Source please?

[WhiteTara]

13. chuckles on msnbc

relayed to me by Mr. WT

[Skittles]

6. did you make six figures in 2018?

[WhiteTara]

20. unfortunately no, hence

the distress at this "information" from C.Todd.

[lame54]

7. I heard $600 at the presser

[elleng]

10. Maybe re: social security

[mcar]

15. That's unemployment

[lame54]

27. Ok thanks

[mcar]

31. My pleasure

[BumRushDaShow]

8. I heard the amount starts phasing out for greater than $75,000

until it hits $0 at $99,000 and above (for single adult).

Haven't heard a word about retirees not in the workforce and collecting SS and/or some annuity.

CNN has some details here - https://www.cnn.com/2020/03/25/politics/stimulus-package-details-coronavirus/index.html

[elleng]

12. Nor have I heard a word about retirees not in the workforce and collecting SS and/or some annuity,

and must say I'd be OK if they keep any more $ for others; I have regular annuity and ss, and don't need more; likely will share any more with my daughters (for my grands.)

[BumRushDaShow]

18. I found this article -

The 2020 Covid-19 Stimulus Checks

Right now, the stimulus checks are just a proposal, but here's what they are proposing as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The stimulus check amount for 2019 is adults would get $1,200 each (so $2,400 for couples filing jointly) and children $500 each (children are qualifying children according to IRS rules claimed in the household under 17 years old). The benefit would start to phase out at a rate of $5 for every additional $100 in income. You also cannot be claimed as a dependent on someone else's return.

The benefit phaseout starts at:

$75,000 in adjusted gross income for singles

$112,500 for heads of household

$150,000 for married couples filing jointly

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

The current bill as written requires you to have filed a 2019 tax return or a 2018 return if you haven't filed your 2019 return yet by the time the checks go out, and it would send the benefit checks to the address listed on the tax return. See below for updating your information with the IRS. In the past programs, if you're not required to file a tax return due to being on Social Security, the government will use the information on your Form SSA-1099, Social Security Benefit Statement, or Form RRB-1099, Social Security Equivalent Benefit Statement. We expect the same thing to happen this time.

For Those On Social Security, SSDI, or SSI

For those on Social Security as part of retirement or through the Social Security Disability Insurance program can have their Social Security Administration data used directly to claim the stimulus check - no tax return will be required. It appears the final version of the bill will also include payments to those whose income comes entirely from non-taxable benefits, such as SSI benefits.

https://thecollegeinvestor.com/33324/coronavirus-stimulus-checks/

[WhiteTara]

22. Thank you for that.

[BumRushDaShow]

29. You are welcome!

Motley Fool had something similar and some speculation -

/snip

In response, lawmakers pivoted to a more direct method: sending $1,000 checks to everyone. That would have the benefit of getting money into the hands of those who need it quickly. Again, though, some officials questioned whether everyone really needed to get cash now.

The compromise position looks like this:

Each eligible adult will receive up to $1,200 from the government.

For every child in a given household, the amount of the total check would go up by $500.

However, there are income limits on receiving the stimulus check. If your adjusted gross income is less than $75,000 for single filers and $150,000 for joint filers, then you'll get the full amount. For every $100 you earn above those limits, though, the payment drops by $5. That means that for those with no children and income levels above $99,000 for singles and $198,000 for joint filers, no stimulus check would come. Those with incomes between those levels would receive a reduced stimulus check payment.

Some of the logistical details aren't yet entirely pinned down, but one aspect that could cause considerable confusion is in determining income for purposes of the legislation. In an effort to get the checks out as quickly as possible, the federal government apparently intends to use 2018 reported income as filed on federal tax returns in determining eligibility. However, some believe that the final legislation could treat the payments as an advance credit that will be verified on 2020 tax returns. That raises the question of whether taxpayers will have to establish their eligibility again based on 2020 income levels -- and potentially have to pay back their stimulus checks if their income rose between 2018 and 2020.

https://www.fool.com/taxes/2020/03/25/will-you-get-a-coronavirus-stimulus-check.aspx

[Mosby]

64. Raw story left out filing status.

Idiots.

First, here’s how the funds will be allocated. The bill will provide cash payments of $1,200 to taxpayers whose incomes are equal to or less than $75,000 each year. After that, it will gradually phase out the payments for taxpayers whose incomes are between $75,000 and $99,000 each year and eliminate them entirely for taxpayers who earn more than $99,000 each year. Families will also receive an additional $500 for every child in their household.

https://www.rawstory.com/2020/03/heres-how-the-coronavirus-relief-stimulus-checks-to-citizens-will-actually-work/

[Blueplanet]

24. Very helpful BumRushDaShow

Thanks.

[BumRushDaShow]

32. No problem!

Was needing to determine if I was even eligible.

[Indykatie]

57. Retirees or those on SS are not Eligible for any of the Stimulus Money

The package is intended to replace lost income because of the CR-19 crisis.

[4887123]

59. Here we go again

The article mentions SS folks are entitled to the money. You claim they are not.

[Thomas Hurt]

9. I thought it was tiered depending on your AGI...

of course the amounts could have been lowered in negotiations with the christofascists.

[customerserviceguy]

28. It could be difficult

to figure out the amount in the next week or two, but it can be accounted for on a tax return. If an excess amount was sent out, it can be added to tax owed, or subtracted from a refund to come. If they use 2020 income figures versus 2019 amounts, it would be more beneficial to those who have suffered an economic loss because of the virus.

[Cartaphelius]

11. Remember our promised Tax Cuts?

Ya. Like that, expect the number to continue to a
downward trend until we have just enough for a
free small soft drink with our happy meal.

[mvd]

16. Have you heard what happens to people on Social Security and the unemployed?

I haven’t. My mom didn’t have to file a tax return because of her SS payment being too low to need to. And I didn’t have to file one either.

[BumRushDaShow]

21. I scanned around and found an article here--

https://www.democraticunderground.com/100213174398#post18

I am a federal retiree currently getting a CSRS-offset annuity. When I turn 62, I have to apply for and will then get SS + some supplemental amount of CSRS that will keep the total monthly payment the same as if it were all annuity like I'm getting now.

In the case of your mom, they were proposing to get that info off the SS 1099.

[mvd]

23. Thank you for the info!

Looks like no extra work, which is good.

[BumRushDaShow]

25. You are welcome!

I hope it is that simple...

[WhiteTara]

17. This is a discussion board

and I blurted out a question. I'm sorry that you are in such a foul mood.

[Baclava]

26. Google it, takes 5 seconds for accurate information, literally

[WhiteTara]

33. Well, bless your heart.

You are so precious.

[Baclava]

34. Well that's how I found the real information, in 5 seconds, literally

In my other precious moments I found out Nuclear Fission, the splitting of atoms, was first discovered in Berlin Germany in Dec 1938.

The world is a series of moments in time, where information can change the world, with many different possible outcomes.

[sheshe2]

35. Good to see you WhiteTara.

[WhiteTara]

36. Hey, sheshe2

It's so good to see you too. Wild world, eh?

[sheshe2]

37. It sure is.

Time to get rid of the orange creature along with the swamp rats he surrounds himself with.

[WhiteTara]

38. Maybe a few more of those sock hops

will take care of the problem for us. hahahaha

[sheshe2]

40. Works for me.

[WhiteTara]

41. what I don't understand

is how are they (trump et. al,) managing to stay healthy? Everyone around them is all sick!

and I think that those polls have been bought by trump and don't forget Brad Pascale and his evil work.

[sheshe2]

42. I don't believe the polls for a minute.

Everything that surrounds trump is fake.

[WhiteTara]

44. indeed.

[aikoaiko]

30. Do we know if this is like the Bush stimulus where we had to pay it back come tax time?

[smirkymonkey]

43. That is what I really want to know.

I would rather not get it now than have to pay later.

[aikoaiko]

45. I wish our Pols and media would be upfront about this issue.

If individuals have to repay 100% at tax time it will
Be a big problem for lots of people.

My accountant friend thins it might be considered taxable income which is a much smaller bill next April 15th.

[Hoyt]

53. They are honest about it. Your accountant friend needs to do more research.

[Hoyt]

52. Whether you have to pay it back depends on your actual income for 2020.

They are paying the full $1200 using the income reported on either your 2018 or 2019 (if you've filed it) tax return. If you get lucky in 2020 and make more than the upper threshold, you might have to pay something back.

[aikoaiko]

60. If you understand this, perhaps you can help me work through some examples.

Let's say you are a single parent making 70,000 with one kid.

As I understand it this person will receive $1200 for the adult and $500 for the kid.

If 2020 AGI remains below $75000, are you suggesting that there will be no repay come tax time like the Fed mandated with the Bush stimulus?

Do you know if it will count as taxable income?

In your post, you say, "If you get lucky in 2020 and make more than the upper threshold, you might have to pay something back," you used the word "might". What does it depend on? Let's say the AGI is $87,000 or $100,000.

TIA

[Hoyt]

61. As I understand it, you will get and keep $1700 in your scenario.

I think, and will try to confirm, that is not taxable.

I'll try to find what I read last night and get back to confirm.

It is not taxable. This is really good, and has a calculator on what you will get.

https://www.washingtonpost.com/graphics/business/coronavirus-stimulus-check-calculator/

Take care in all this.

[aikoaiko]

62. Thank you. Take care of yourself and the Hoyt clan.

[Hoyt]

63. You too, Aikoaiko.

[beachbumbob]

39. as there is NO deal yet, and this will play on for a while, I wouldn't bet on any checks

[jmg257]

46. Fuck em. Not enough, and to phase it out is bullshit.

I'm furloughed, the wife on half-salary - for now, and the bills won't stop.

[onenote]

47. do you think everyone should get the same amount?

[jmg257]

49. Every one who is laid off or unemployed - yes.

And the more the merrier.

Don't think we need $25 Million for the Kennedy Center right now - unless they promise to open up NOW and hire some otherwise closed companies to work the venues.

[Hoyt]

55. File for unemployment. That was enhanced too.

[jmg257]

65. Thanks Hoyt - did so - not fun, but finally was able to enroll. nt

[onenote]

48. Have you figured out how we're "screwed"?

[WhiteTara]

50. a little here and a little there

followed with a big heaping "I don't care"

[Indykatie]

51. No Pleasing Every One - The Payment is Tiered Based on Income and Just 1 Part Of the Package

This approach allows the lower wage earners to get a higher benefit. If you have lost your job you will also get $600 per week on top of your regular unemployment check for up to 4 months.

[Indykatie]

54. Why Don't People Do Some Fact Finding via Google Before Jumping on A Thread to Complain?

If the package affects you I would think that you'd want to search out information rather than relying on a blurb from Chuck Todd or anyone else. This is a big package with different components.

[Hoyt]

56. +100000000000000000. I've never seen more griping based on someone's belief that they have been

singled out to get screwed.

[WhiteTara]

58. please, you needn't be so sanctimonious

Have a nice day.