First round of stimulus checks deposited today

[Farro]

Got it!

 

[kdonnel]

Is there any consensus if we have to give the money back when we file in 2020?

My income in 2019 qualified me for a reduced amount.

If I keep my job through 2020 I exceed the maximum income requirements.

Trying to decide if I should buy a bunch of booze and cigarettes or save the money to hand it back April 2021.

 

[kdonnel]

Treasury doesnt actually print them. The IRS does, and theyve said they will be delayed

I think at this point it is not known. Every article I have read says they may be delayed. Some IRS officials have said there will be a delay, other IRS officials have said there will not be a delay. Treasury officials have said there will not be a delay. Clear as mud.

I stand by Depends.

Edited: The reason for the potential delay is ridiculous.

 

[sam_gordon]

Is there any consensus if we have to give the money back when we file in 2020?

My income in 2019 qualified me for a reduced amount.

If I keep my job through 2020 I exceed the maximum income requirements.

Trying to decide if I should buy a bunch of booze and cigarettes or save the money to hand it back April 2021.

Personally, I'm going to save as much of it as I can just in case it needs to be handed back. If I have some left after doing 2020 taxes, THEN I'll spend it. Of course, if an emergency comes up, I'll use it. And a trip to Disney is NOT an emergency.

 

[Farro]

Is there any consensus if we have to give the money back when we file in 2020?

My income in 2019 qualified me for a reduced amount.

If I keep my job through 2020 I exceed the maximum income requirements.

Trying to decide if I should buy a bunch of booze and cigarettes or save the money to hand it back April 2021.

Personally, I'm going to save as much of it as I can just in case it needs to be handed back. If I have some left after doing 2020 taxes, THEN I'll spend it. Of course, if an emergency comes up, I'll use it. And a trip to Disney is NOT an emergency.

Does this answer your question, maybe?

https://www.businessinsider.com/personal-finance/will-we-have-to-pay-back-stimulus-check-2020-4

 

[AlohaNow]

Woo hoo! Got it today! Transferring it to savings because we have no idea where we'll stand later this year as far as employment goes.

 

[Jennasis]

Got ours today.

 

[wvjules]

We got ours today. I'll spend mine on a McDonald's combo meal. lol DD got $1700 and DBF got $1200 so they can buy me a nice dinner with theirs. lol

 

[Searc]

Treasury doesnt actually print them. The IRS does, and theyve said they will be delayed

Yep.

 

[kdonnel]

Does this answer your question, maybe?

https://www.businessinsider.com/personal-finance/will-we-have-to-pay-back-stimulus-check-2020-4

Wasteful spending here I come!

 

[Sabeking]

Got deposit this morning. Yay, now I have the money to write the check to the IRS for 2019 taxes!

 

[Searc]

Got deposit this morning. Yay, now I have the money to write the check to the IRS for 2019 taxes!

We're writing our check to the IRS today, $4000 more than last year.

 

[kdonnel]

We're writing our check to the IRS today, $4000 more than last year.

Sounds like you are doing well!

 

[Searc]

Sounds like you are doing well!

DH increased our withholding for 2019 by over $2000 due to the ridiculous tax changes. We still have to pay in almost $2000 more.

 

[Farro]

Wasteful spending here I come!

We will put ours in savings in case things don't let up soon (living on my salary at moment, but okay), but otherwise I won't lie - it's going to next year's WDW trip.

 

[LSUmiss]

Anyone not get it & use the check my status & it say “status unavailable”? We should be eligible, but I’m pretty sure they don’t have our direct deposit info as we usually have to pay each year.

 

[lovin'fl]

DS-23 did not get his today. Wonder why? We do his taxes for him and he's had direct deposit the past few years.

 

[soccerdad72]

Sounds like those getting paper checks (no idea what percentage that is?) might have a few days delay:

https://www.yahoo.com/news/trumps-name-appear-coronavirus-relief-025700641.html

 

[TippyThomas]

Today must have been a big day because I got mine today too.

 

[lovin'fl]

Anyone not get it & use the check my status & it say “status unavailable”? We should be eligible, but I’m pretty sure they don’t have our direct deposit info as we usually have to pay each year.

How do you check status?