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Old 03-14-2021, 03:46 PM   #41
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Don’t want to start a new thread but have a question related to stimulus payment.

In 2019 I made a little over the limit in AGI. In 2020 I made way below the limit and am eligible for full payment. Will file my 2020 taxes electronically ASAP, but it might be already too late.

What option do I have if the IRS uses my 2019 amount and declares me not eligible for a payment?

Is there a process to file an appeal and ask them to look at my 2020 return?

Thanks for your input.
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Old 03-14-2021, 04:23 PM   #42
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Quote:
Originally Posted by Ologist View Post
Don’t want to start a new thread but have a question related to stimulus payment.

In 2019 I made a little over the limit in AGI. In 2020 I made way below the limit and am eligible for full payment. Will file my 2020 taxes electronically ASAP, but it might be already too late.

What option do I have if the IRS uses my 2019 amount and declares me not eligible for a payment?

Is there a process to file an appeal and ask them to look at my 2020 return?

Thanks for your input.
You're right, you may be too late for the initial determination.

There's a second checkpoint which will fall between July 15 and September 1 when the IRS will check again. If you've filed your 2020 return and qualify for a stimulus payment, they'll make the payment to you then.

If you miss that second checkpoint as well, then you can claim it as a recovery rebate credit on your 2021 tax return about a year from now.

There is no appeal process. You have to wait for either the second checkpoint or for next year.
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Old 03-14-2021, 05:05 PM   #43
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Originally Posted by W2R View Post
I don't think I'm getting a stimulus deposit this time. My AGI was too high.

Oh well! Having a higher income is not a bad thing when you think about it.
Exactly. When I want to feel a bit put out by it, I focus on the fact that our two sons, their wives, and other family members and friends will be getting it. And they need it more than we do. If only I hadn’t filed our 2020 return so early!
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Old 03-14-2021, 05:15 PM   #44
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<<< Quote:
Originally Posted by Ologist
Don’t want to start a new thread but have a question related to stimulus payment.

In 2019 I made a little over the limit in AGI. In 2020 I made way below the limit and am eligible for full payment. Will file my 2020 taxes electronically ASAP, but it might be already too late.

What option do I have if the IRS uses my 2019 amount and declares me not eligible for a payment?

Is there a process to file an appeal and ask them to look at my 2020 return?

Thanks for your input. >>>

Quote:
Originally Posted by SecondCor521 View Post
You're right, you may be too late for the initial determination.

There's a second checkpoint which will fall between July 15 and September 1 when the IRS will check again. If you've filed your 2020 return and qualify for a stimulus payment, they'll make the payment to you then.

If you miss that second checkpoint as well, then you can claim it as a recovery rebate credit on your 2021 tax return about a year from now.

There is no appeal process. You have to wait for either the second checkpoint or for next year.
Shouldn’t Ologist be able to claim the Recovery Rebate Credit on his 2020 return he’s (she’s?) filing soon?
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Stimulus 3 deposit already!
Old 03-14-2021, 05:17 PM   #45
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Stimulus 3 deposit already!

For those getting it, please do your patriotic duty to stimulate the economy by spending it! None of this ER reflex business, “Oh, I’ll spend 4%” or “3.5% to be conservative” or “I have a pension so I’m not spending any of it.” America needs you to flex your withered pandemic spending muscles and...Blow That Dough!
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Old 03-14-2021, 05:18 PM   #46
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Shouldn’t Ologist be able to claim the Recovery Rebate Credit on his 2020 return he’s (she’s?) filing soon?
For the first two stimulus payments, yes.

For the third stimulus payment, no.

I assumed by the timing and language of Ologist's post that they were referring to the third stimulus payment.
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Old 03-14-2021, 05:42 PM   #47
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Thank you.

You must be very rich if you are paying for all of us.
no I'm not.
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Old 03-14-2021, 06:07 PM   #48
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Originally Posted by SecondCor521 View Post
You're right, you may be too late for the initial determination.

There's a second checkpoint which will fall between July 15 and September 1 when the IRS will check again. If you've filed your 2020 return and qualify for a stimulus payment, they'll make the payment to you then.

If you miss that second checkpoint as well, then you can claim it as a recovery rebate credit on your 2021 tax return about a year from now.

There is no appeal process. You have to wait for either the second checkpoint or for next year.
This is music to my ears. Our accountant filed our return yesterday 3/13. I fear that we were too late for this initial IRS check and our 2019 return exceeded the threshold. Knowing that they will check again, gives me great comfort. If we had to wait until filing our 2021 return, we would not qualify, as our 2021 income will exceed the threshold.
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Old 03-14-2021, 08:05 PM   #49
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Quote:
Originally Posted by SecondCor521 View Post
You're right, you may be too late for the initial determination.

There's a second checkpoint which will fall between July 15 and September 1 when the IRS will check again. If you've filed your 2020 return and qualify for a stimulus payment, they'll make the payment to you then.

If you miss that second checkpoint as well, then you can claim it as a recovery rebate credit on your 2021 tax return about a year from now.

There is no appeal process. You have to wait for either the second checkpoint or for next year.
Thanks, just the information I was looking for! BTW I am male.
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Old 03-14-2021, 09:46 PM   #50
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Barely 24 hours since the president signed the relief bill and the IRS has already deposited the money in our account. I’m stunned.
Any entity that can literally create money with the click of a mouse is bound to be pretty damm efficient
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Old 03-15-2021, 08:17 AM   #51
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For those getting it, please do your patriotic duty to stimulate the economy by spending it! None of this ER reflex business, “Oh, I’ll spend 4%” or “3.5% to be conservative” or “I have a pension so I’m not spending any of it.” America needs you to flex your withered pandemic spending muscles and...Blow That Dough!
It will have to wait for our daughter to be vaccinated, but we're planning to spend it on new lighting and (possibly) skylights for our dark family room.
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Old 03-15-2021, 08:26 AM   #52
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Originally Posted by Markola View Post
For those getting it, please do your patriotic duty to stimulate the economy by spending it! None of this ER reflex business, “Oh, I’ll spend 4%” or “3.5% to be conservative” or “I have a pension so I’m not spending any of it.” America needs you to flex your withered pandemic spending muscles and...Blow That Dough!
Yep! I am heading to Wal-Mart to buy all sorts of made in China stuff with my stimulus.
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Old 03-15-2021, 08:36 AM   #53
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Quote:
Originally Posted by Markola View Post
For those getting it, please do your patriotic duty to stimulate the economy by spending it! None of this ER reflex business, “Oh, I’ll spend 4%” or “3.5% to be conservative” or “I have a pension so I’m not spending any of it.” America needs you to flex your withered pandemic spending muscles and...Blow That Dough!
I really do hope people spend it. It will help all of us in doing so.
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Old 03-15-2021, 08:38 AM   #54
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Government doesn't give me anything I have to pay for all of you.
Congratulations for having a very high income. Millions would love to trade places with you.
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Old 03-15-2021, 08:46 AM   #55
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Congratulations for having a very high income. Millions would love to trade places with you.
Billions would love to have the healthcare and food access that the lowest 25% in the USA have though.

The tax laws are not very fair and I can understand the resentment from someone who does not qualify for the stimulus and yet does not feel like the super rich.

You could have a multi million dollar home near the beach in southern California with your grandfathered in property tax and simply qualify for the stimulus because you have massaged your income while another person living in a 1 bedroom apartment with sky high rent feels poor making $100,000 a year in that area.
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Old 03-15-2021, 08:59 AM   #56
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Originally Posted by SecondCor521 View Post
For the first two stimulus payments, yes.

For the third stimulus payment, no.

I assumed by the timing and language of Ologist's post that they were referring to the third stimulus payment.
I can do this! We get our on Wednesday.
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Old 03-15-2021, 09:11 AM   #57
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when you folks used the where/s my payment tool did you have to use the zip code with just 5 digits or 5 plus the 4 extension.
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Old 03-15-2021, 09:11 AM   #58
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We are not eligible but our son is, and he reports that he just checked online and payment into his bank is due on the 17th. (His previous 2 stimulus payments also went direct into his bank)
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Old 03-15-2021, 10:02 AM   #59
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Ours is scheduled to be deposited 3/17. I will spend it and more to stimulate the economy.
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Old 03-15-2021, 12:45 PM   #60
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Ours is scheduled to be deposited 3/17. I will spend it and more to stimulate the economy.
+1, same here. I decided that we should, indeed, spend it. I am now trying to think of some way to do so! (Don't really want anything at the moment....)
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