You might get a thousand dollars stimulus package

[mi*vida*loca]

Because not everyone has filed their 2019 taxes yet.
I think it is based on your AGI

I am wondering what this means for adult kids who are dependents but have filed their own taxes.

very interested in that too. My son is 20 and in college but we claim him. He works at a movie theater and is out of work but never filed a return.

 

[wvjules]

It should not be means tested. Marc 2020 is not like 2018.

 

[SaintsManiac]

So in short, we still don’t know the real details. Sounds about right.

 

[BuckeyeBama]

very interested in that too. My son is 20 and in college but we claim him. He works at a movie theater and is out of work but never filed a return.

Same here - I have 2 boys in college, both in their 20s. Wonder if they will get this?

 

[Hikergirl]

So in short, we still don’t know the real details. Sounds about right.

Right because so far it's just a draft, nothing has been approved.

 

[*pixie*]

We can stop theorizing, the first draft is out, things could change.

$1200 for an individual, $2400 for a couple, $500 per kid.

There are income restrictions ($75000 individual, $150000 joint) but can not be reduced below $600 for an individual or $1200 for a couple.

Doesn't sound like the kid part is influenced by income.

The checks will be based on your 2018 income but the actual amount you are allowed will ultimately be based on your 2020 income and you will have to settle up when you file your 2020 taxes. You may get more of the credit then or may have to return excess credit paid to you as part of this prebate.

There is a provision for a second payment if we are still under a state of emergency.

Just found out today that our state is shutting down salons until April 30th so I will have zero income for the next 6 weeks. We file jointly and are above the 150,000 amount.

 

[mi*vida*loca]

Just found out today that our state is shutting down salons until April 30th so I will have zero income for the next 6 weeks. We file jointly and are above the 150,000 amount.

what state ???

NJ did that effective today but I didn’t hear of an end date ?

 

[*pixie*]

what state ???

NJ did that effective today but I didn’t hear of an end date ?

Colorado

 

[3 MEN AND A BOAT]

The way it usually works is that I’ll probably get excluded.

 

[mi*vida*loca]

Colorado

My SO went and got a haircut today right before his barber shut down. He left a bigger tip. I feel so bad for him and his employees.

 

[SaintsManiac]

Right because so far it's just a draft, nothing has been approved.

I was being facetious. This story has changed so many times in the past 3 days I have whiplash.

 

[kdonnel]

The way it usually works is that I’ll probably get excluded.

No one is excluded. Even if you made 1 trillion dollars in 2018 as an individual you will get $600 or $1200 as a couple.

 

[kdonnel]

I was being facetious. This story has changed so many times in the past 3 days I have whiplash.

This is the first time it has been written down in a formal way. All prior reporting was made up guesses.

 

[NYCgrrl]

I was being facetious. This story has changed so many times in the past 3 days I have whiplash.

Story hasn't changed but there are 2 or 3 versions of the proposed bill out there.

 

[SaintsManiac]

Whatever.

 

[kdonnel]

Story hasn't changed but there are 2 or 3 versions of the proposed bill out there.

There is only one version and it was just released a few hours ago. All prior reporting was guesses and interpretations based on what government officials said they were hoping to make happen.

There are two prior corona virus bills that have been passed and signed but they did not address this relief.

 

[NYCgrrl]

Whatever.

I've been wanting to say this forever so with your response: "Ok, Millennial"

 

[Farro]

So what I read on a few sites :

1200 for single making $75000 and less. Subtract $5 for every $100 made over the $75,000. Singles making more than $99,000 do not get anything.

Or saying kind of the same thing: The amount would be reduced by 5% of the amount of a taxpayers income that exceeds $75,000. For joint filers, the threshold would be $150,000.

Math is hard and I have a headache and I'm trying to convince myself I don't have the virus! (I don't, no fever).

Ugh, I just want everyone to be okay and this to be over soon. The running tally on every state, every country of illnesses and deaths is just starting to be too much for me.

 

[mommasita]

I’ve been on a bit of a news sabbatical - could you kindly point me towards some official information on this? We’re finally scheduled to be returned home from Mexico on Saturday. We’ll both be in isolation for 14 days. I will be paid in full during that time and 100% positive to be returning to my role (remote or in-office). DH’s company has informed him his time will be unpaid unless their insurance carrier applies short-term disability or EI pays. Also not quite as confident in his job security, so I’m very interested in any provisions the government has announced.

TIA

https://www.canada.ca/en/department-finance/economic-response-plan.html#individual
Have a safe flight home, hope that helps.

 

[NYCgrrl]

There is only one version and it was just released a few hours ago. All prior reporting was guesses and interpretations based on what government officials said they were hoping to make happen.

There are two prior corona virus bills that have been passed and signed but they did not address this relief.

Yes, and now that one written bill has been presented the different ideas will still be tossed around before it hits the President's desk; democracy in action.