Stimulus $600

[cathy63]

I checked the IRS Payment site for the stimulus for DF's account.

And got the "Status not available" message for the 2nd stimulus. Got the correct info for the first stimulus. From what I read this means it's reconciled via his 2020 tax return.

CNBC reports that:

Apparently, DF who died in 2020 after receiving part of the first stimulus is still eligible for the second. The whole issue of who qualifies was apparently resolved to whomever did not die before Jan 1, 2020 due to how taxes are routinely handled for a deceased person in the year they die.

https://www.politico.com/news/2020/08/05/dead-people-could-get-stimulus-checks-391866

Yes, the bill specifically says that payments for taxpayers who are deceased prior to January 1, 2020 should be calculated "in the same manner as if the valid identification number of such person was not included on the return of tax for such taxable year", which, when you unwind it far enough, turns out to be a long-winded way of saying they get $0. Since they only excluded people who died prior to 2020, those who died during 2020 are eligible.

I had also noticed that the earlier draft of the 1040 instructions for calculating the recovery rebate would allow the estate of anyone who died during 2020 to claim the payment if they hadn't received it. There had been some confusion about what should happen for people who had died in Q1 before the first stimulus check was sent out.

 

[cathy63]

Sorry for the confusion. I meant that the H&R Block computer program does not yet account for the Cares Act 2 payment that people are receiving now. That is, the Recovery Rebate Credit amount calculation in the program currently only takes into account the first $1200 per person payment that we either did not or only partially received last year. I expect they'll fix that soon in an update. I expect it's a little complicated because there is a different upper limit for the phaseout this time ($174k AGI for MFJ versus $198k last time).

The 1040 draft instructions now include the second payment in the worksheet on page 59, which has expanded to cover a full page, so I'm sure H&R Block will implement it soon. https://www.irs.gov/pub/irs-dft/i1040gi--dft.pdf

 

[bpgdeg1234]

The 1040 draft instructions now include the second payment in the worksheet on page 59, which has expanded to cover a full page, so I'm sure H&R Block will implement it soon. https://www.irs.gov/pub/irs-dft/i1040gi--dft.pdf

The second stimulus payment is based on your 2019 AGI as 2020 taxes have not yet been completed so you receive some payment as long as your AGI for 2019 is below the phaseout amount.

When you subsequently file your 2020 taxes the recovery tax credit is based on your 2020 tax form AGI but you don't have to pay anything you previously received even if your 2020 AGI is above the phaseout limit amount.

So the IRS recently indicated there is an issue that affected those who had filed their 2019 taxes through H&R Block and TurboTax in particular and says in general terms that some people may have to wait until they file their 2020 taxes to get the second stimulus payment, even if they received the first stimulus check with no issues.

So correct me if I'm wrong but if you don't get an advance stimulus payment that you may presently qualify for based on your 2019 AGI, if your 2020 AGI is higher and above the phase out level you won't qualify for any of the tax credit when you file your 2020 taxes?

 

[audreyh1]

So correct me if I'm wrong but if you don't get an advance stimulus payment that you may have presently qualified for based on your 2019 AGI, if your 2020 AGI is higher and above the phase out level you won't qualify for any of the tax credit when you file your 2020 taxes?

I believe that is correct. For credit your 2020 AGI determines the amount.

 

[bpgdeg1234]

I believe that is correct. For credit your 2020 AGI determines the amount.

Thanks, that's very interesting...

 

[scrabbler1]

The 1040 draft instructions now include the second payment in the worksheet on page 59, which has expanded to cover a full page, so I'm sure H&R Block will implement it soon. https://www.irs.gov/pub/irs-dft/i1040gi--dft.pdf

Thanks for posting this. I didn't know the draft version had just been changed. I saw the worksheet which, for me at least, is pretty simple. My 2020 AGI is (far) less than the $75k max for full $600 EIP-2 benefit (for a single). So I can post a $600 amount on Form 1040, Line 30, and offset the amount I expect to owe and get a refund, as soon as I get all my other forms in the next 4-5 weeks.

 

[RobbieB]

We got our $1200 on 1-1-21. Wife spent it on 12-28-20.

 

[Walt34]

We got our $1200 on 1-1-21. Wife spent it on 12-28-20.

Wow, she moves faster than light!

 

[sengsational]

I checked the IRS website (where's my payment) and it said ours is scheduled to be mailed on January 6. We got the first stimulus by direct deposit. I'm wondering why they chose to mail this one?

Just checked https://www.irs.gov/coronavirus/get-my-payment with Firefox and it gave an error. Checked with Chrome and it said the same thing...mailed January 6 (today). My last one was also mailed (never put my routing / account number on the IRS form).

 

[statsman]

We got our $1200 on 1-1-21. Wife spent it on 12-28-20.

Taking a spending hit in 2020 to make 2021's income look better!

 

[mickeyd]

Got an amount substantially less than $1200 (600x2). I guess I will consider it a refund of my previously paid income tax. Thank you American people!

 

[bpgdeg1234]

Just checked https://www.irs.gov/coronavirus/get-my-payment with Firefox and it gave an error. Checked with Chrome and it said the same thing...mailed January 6 (today). My last one was also mailed (never put my routing / account number on the IRS form).

Thanks for update. Did the site indicate scheduled to be mailed Jan 6 (today) or was actually mailed today?

 

[street]

Sorry for the confusion. I meant that the H&R Block computer program does not yet account for the Cares Act 2 payment that people are receiving now. That is, the Recovery Rebate Credit amount calculation in the program currently only takes into account the first $1200 per person payment that we either did not or only partially received last year. I expect they'll fix that soon in an update. I expect it's a little complicated because there is a different upper limit for the phaseout this time ($174k AGI for MFJ versus $198k last time).

Thanks. I thought that was what you were referring too but I wanted to make sure. I do know the people here in my rural area at H&R don't seem to do some of the really technical tax issues that come up. That is why I was wondering.

Thanks so much I'm little slow when it come to some of this stuff.

 

[Koolau]

Thanks. I thought that was what you were referring too but I wanted to make sure. I do know the people here in my rural area at H&R don't seem to do some of the really technical tax issues that come up. That is why I was wondering.

Thanks so much I'm little slow when it come to some of this stuff.

I agree. I've never felt comfortable doing my own taxes. They have been and remain fairly complicated (I pay FED AND two different states!) Bummer, so worth what I pay which seems like a lot.

 

[street]

^ yes I could do my own and save some money but I can afford to have it done. I dislike dealing with taxes so I'm very happy to have someone else do them. I save other ways on things I do that some have to pay for. It doesn't cost me that much and I dont have to stress over doing them.

 

[Koolau]

I used to pay others to clean my gutters and I still pay for someone else to do my taxes. I hate them about equally! YMMV

 

[sengsational]

Thanks for update. Did the site indicate scheduled to be mailed Jan 6 (today) or was actually mailed today?

This is what it said:

We scheduled your payment to be mailed on January 6, 2021 to the address we have on file for you.

And I think the reason for the error in Firefox is that I turned off referrer headers at one point, which breaks a lot of sites. I need to get a referrer header spoofer instead of just turning them off.

 

[bpgdeg1234]

This is what it said:

And I think the reason for the error in Firefox is that I turned off referrer headers at one point, which breaks a lot of sites. I need to get a referrer header spoofer instead of just turning them off.

Thanks for response. Mine says the same. Was hoping that after the 6th it indicated that it was actually mailed.

 

[Dtail]

Will there be another stimulus check coming now for 2000 or 1400 or nothing at all?

 

[PaunchyPirate]

The latest update to desktop TurboTax (I downloaded it yesterday) has support for entering whether you received both stimulus payments and crediting it if you didn't. I will get $1800 credit (I am single, no kids) on my taxes since I never was sent a payment. My 2018 and 2019 income didn't qualify me, but my 2020 will.

You can also now enter stock sales with the update.

I went thru a quick dry run of my taxes based on numbers I can get from my online accounts and it looks like TurboTax functionality now has everything I need to file when I can. Not to say they won't update more and change things prior to filing, but it's almost there.

 

[Mark1]

Will there be another stimulus check coming now for 2000 or 1400 or nothing at all?

To early to tell for sure, but I am holding off on my Roth Conversion plan for 2021 until I know the rules for sure.

 

[PaunchyPirate]

Has anyone determined why the IRS is not able to send the second stimulus deposit to a checking account if they successfully sent the first one?

For payment #1, for my mother, I had to upload her bank account routing numbers once they set up a method to do that. We did that. And she got her payment, albeit not in the first wave of payments.

For payment #2, she has not received payment and the "Get my Payment" system doesn't show any imminent payment. Following the help link, it seems that the IRS is not going to send anymore payments due to the opening of tax season and that anyone who has not received payment #2 will need to wait to get it on their filed tax returns.

Why didn't they send payment #2? They have her banking numbers from the first payment. Did they not click the "Save" button?

 

[Dean56]

Has anyone determined why the IRS is not able to send the second stimulus deposit to a checking account if they successfully sent the first one?

Why didn't they send payment #2? They have her banking numbers from the first payment. Did they not click the "Save" button?

That happened to me.

I received the 1st stimulus check by direct deposit into my checking account.
This week I received the 2nd stimulus payment by a paper check in the mail.

 

[USGrant1962]

Same here, direct deposit last time and supposedly mailed a check on the 6th for the second payment. And I pay quarterlies via Direct Pay too.

 

[sengsational]

In H&R Block, where in the interview are the stimulus questions? I'll admit to not looking. Haven't even downloaded the latest update.