Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 04-26-2020, 08:25 AM   #561
Thinks s/he gets paid by the post
 
Join Date: Nov 2006
Posts: 1,230
Quote:
Originally Posted by Gumby View Post
Just a wild guess, but are you putting the city, state and zip in the address block? You should NOT. Just put in the street address. When I first tried the site, I got rejected with the same message for just that reason.
It's really finicky. On my tax return my street address has "West". It wouldn't work when I put that in. But, when I put "W.", it worked. But, it wouldn't work if I put the "." behind AVE. Weird.
PatrickA5 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 04-26-2020, 08:29 AM   #562
Moderator Emeritus
Ronstar's Avatar
 
Join Date: Aug 2007
Location: Just north of the 41st parallel, near the 88th meridian west.
Posts: 14,875
Quote:
Originally Posted by pb4uski View Post
How long did it take? I provided my bank information around April 15th and I've been checking the "Get My Payment" website every couple days and have got the same message for almost two weeks.
When I finally got in to the website, I did not get the same unknown payment date response that you did. My successful response (I think on maybe 4/18) from the website gave a payment date of 4/22. And that is when it came in to my account.
Ronstar is offline   Reply With Quote
Old 04-26-2020, 08:38 AM   #563
Recycles dryer sheets
 
Join Date: Jul 2013
Posts: 271
Hey folks, thanks for all the help! I just got in. It was the address that was holding me up. The address on our tax form & the way it is usually written is on “Mt Calvary” the IRS wanted to see “mount calvary.
They wanted bank info. I think because our bank changed hands & now has a different routing number. I’m not sure though, they didn’t seem to have any trouble taking the money out of our account.

Thanks again for all the help!
Murf
Murf2 is offline   Reply With Quote
Old 04-26-2020, 08:46 AM   #564
Thinks s/he gets paid by the post
 
Join Date: Jan 2010
Location: dubuque
Posts: 1,023
finally got the site to say that it has accepted my application and it would be deposited to the account that I speccified. what site do you go to get the status of the money you have coming?
frank is offline   Reply With Quote
Old 04-26-2020, 09:29 AM   #565
Thinks s/he gets paid by the post
 
Join Date: Oct 2017
Location: Chapel Hill, NC
Posts: 4,803
Murf2 I would try with a laptop or i pad or something. We had trouble using our phone but got a laptop to work. So you actually got the 2019 refund deposited directly to your checking account? Are you getting to the second page where they ask for you checking account info or is it stopping you on the first page?
harllee is offline   Reply With Quote
Old 04-26-2020, 09:30 AM   #566
Thinks s/he gets paid by the post
 
Join Date: Oct 2017
Location: Chapel Hill, NC
Posts: 4,803
Quote:
Originally Posted by harllee View Post
Murf2 I would try with a laptop or i pad or something. We had trouble using our phone but got a laptop to work. So you actually got the 2019 refund deposited directly to your checking account? Are you getting to the second page where they ask for you checking account info or is it stopping you on the first page?
Never mind Murf I see you got in
harllee is offline   Reply With Quote
Old 04-26-2020, 10:10 AM   #567
Recycles dryer sheets
 
Join Date: May 2015
Posts: 138
The site finally updated to say we will get a direct deposit this week... Until the money hits my bank account I'm still treating the money as though it doesn't exist.

On a related note, last year our AGI was <$150k so we'll get a stimulus payment this year. Our AGI will be >$200k this year if we sell our company. I understand I don't need to give pay whatever I receive this year. But this year we have an additional dependent that we didn't have in 2019. Is there a way to get the $500 this year?
sergio is offline   Reply With Quote
Old 04-26-2020, 10:16 AM   #568
Thinks s/he gets paid by the post
Cobra9777's Avatar
 
Join Date: Jul 2012
Location: Texas
Posts: 2,619
We were getting the "Payment Status Not Available" error message until a couple days ago when we were finally able to enter our bank info. So our status still says:

Quote:
Payment Status
You are eligible for the payment. Once we have your payment date, we will update this page.

We will deposit your payment to the bank account below.

Bank Account Number: ************XXXX
DMIL had the zero refund issue, but as of yesterday, I was still getting the error message that said, "your information does not match our records." I tried again today and now this is her status:

Quote:
Payment Status
We scheduled your check to be mailed on May 01, 2020 to the address we have on file for you.

We will mail you a letter with additional information on this payment.

If you need additional help or do not receive your payment, please visit our Frequently Asked Questions page.
So I guess I'm now done with this exercise. DMIL should get her check in about a week or so. And we should get the direct deposit in about two weeks, judging from what's been posted here.
__________________
Retired at 52 in July 2013. On to better things...
AA: 55% stock, 15% real estate, 27% bonds, 3% cash
WR: 2.7% SI: 2 pensions, some rental income, SS later
Cobra9777 is offline   Reply With Quote
Old 04-26-2020, 11:30 AM   #569
Thinks s/he gets paid by the post
 
Join Date: Mar 2013
Location: Coronado
Posts: 3,138
Quote:
Originally Posted by sergio View Post
The site finally updated to say we will get a direct deposit this week... Until the money hits my bank account I'm still treating the money as though it doesn't exist.

On a related note, last year our AGI was <$150k so we'll get a stimulus payment this year. Our AGI will be >$200k this year if we sell our company. I understand I don't need to give pay whatever I receive this year. But this year we have an additional dependent that we didn't have in 2019. Is there a way to get the $500 this year?
No, you cannot get the $500 for gaining a new dependent under age 17 this year. If your 2020 AGI ends up below $160K, then you'll get part of it when you file next year. (If you have two children under 17, it's $170K; for three it's $180K; etc.)
cathy63 is online now   Reply With Quote
Old 04-26-2020, 01:16 PM   #570
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
SecondCor521's Avatar
 
Join Date: Jun 2006
Location: Boise
Posts: 6,778
Quote:
Originally Posted by cathy63 View Post
No, you cannot get the $500 for gaining a new dependent under age 17 this year. If your 2020 AGI ends up below $160K, then you'll get part of it when you file next year. (If you have two children under 17, it's $170K; for three it's $180K; etc.)
I think it works a little bit differently than the above.

The stimulus tax credit for MFJ is $2400. Then in this case, you add $500 for the dependent, which gets you to $2900.

For MFJ, there is a 5% phaseout of the stimulus tax credit starting at $150K AGI. So in this case, it ends at $150K + ($2900 / 5%) = $208K.

I had given similar inaccurate advice to someone else on another board. I got challenged/corrected, and so I went and read the text of the final bill. The above is my understanding of how the law is written.

This is something that is frequently not accurately nor carefully explained in news articles in the popular press.

@sergio, I think the best you can do is calculate the credit based on your 2020 situation with the higher AGI and the dependent, then claim any increase of that number over whatever stimulus check you received this year. There will be a line on the tax forms next year for this calculation. The government doesn't care what combination of AGI and dependents leads to the credit between 2019 and 2020; they just compare the overall number and give you whatever the math says is better.
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
SecondCor521 is online now   Reply With Quote
Old 04-26-2020, 01:20 PM   #571
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 32,251
Quote:
Originally Posted by UnrealizedPotential View Post
I also gave my bank information on 4/15. I checked today and am scheduled to receive my direct deposit on 4/30.
+1

Quote:
Payment Status
We scheduled your payment to be deposited on April 30, 2020 to the bank account below.

Bank Account Number: ************6666

If you don't see your payment credited to your account, check with your bank to verify they received it. We will mail you a letter with additional information on this payment.

If you need additional help or do not receive your payment, please visit our Frequently Asked Questions page.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 56
pb4uski is offline   Reply With Quote
Old 04-26-2020, 02:43 PM   #572
Thinks s/he gets paid by the post
 
Join Date: Mar 2013
Location: Coronado
Posts: 3,138
Quote:
Originally Posted by SecondCor521 View Post
I think it works a little bit differently than the above.

The stimulus tax credit for MFJ is $2400. Then in this case, you add $500 for the dependent, which gets you to $2900.

For MFJ, there is a 5% phaseout of the stimulus tax credit starting at $150K AGI. So in this case, it ends at $150K + ($2900 / 5%) = $208K.

I had given similar inaccurate advice to someone else on another board. I got challenged/corrected, and so I went and read the text of the final bill. The above is my understanding of how the law is written.

This is something that is frequently not accurately nor carefully explained in news articles in the popular press.

@sergio, I think the best you can do is calculate the credit based on your 2020 situation with the higher AGI and the dependent, then claim any increase of that number over whatever stimulus check you received this year. There will be a line on the tax forms next year for this calculation. The government doesn't care what combination of AGI and dependents leads to the credit between 2019 and 2020; they just compare the overall number and give you whatever the math says is better.

Yes, you are correct if you assume that they don't get any advance on the credit before filing for 2020. But sergio said they will get $2400 this year, so they will have to subtract that from whatever remains after they do the final calc on their 2020 return.

For example, suppose that when they do their 2020 tax return, their AGI is $200K exactly and they now have one child that they are claiming for the first time. They are entitled to a credit of $2900 - .05*($200K-$150K) = $400 on their 2020 return. But they will have already gotten $2400 advanced against that amount, so they were overpaid by $2000 and although they will not have to pay that back, they also will not get anything more on their 2020 return.

On the other hand, if their AGI is $155K in 2020, then they are entitled to a credit of $2900 - .05*($155K - $150K) = $2650. Subtract the $2400 they receive in advance and they get $250 for the dependent. That amount goes to $0 once they hit $160K.
cathy63 is online now   Reply With Quote
Old 04-26-2020, 03:20 PM   #573
Recycles dryer sheets
fisemper's Avatar
 
Join Date: Apr 2020
Location: Prattville
Posts: 55
After 3 weeks I finally have a payment date of 30 April! WOO!
fisemper is offline   Reply With Quote
Old 04-26-2020, 03:58 PM   #574
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
SecondCor521's Avatar
 
Join Date: Jun 2006
Location: Boise
Posts: 6,778
Quote:
Originally Posted by cathy63 View Post
Yes, you are correct if you assume that they don't get any advance on the credit before filing for 2020. But sergio said they will get $2400 this year, so they will have to subtract that from whatever remains after they do the final calc on their 2020 return.

For example, suppose that when they do their 2020 tax return, their AGI is $200K exactly and they now have one child that they are claiming for the first time. They are entitled to a credit of $2900 - .05*($200K-$150K) = $400 on their 2020 return. But they will have already gotten $2400 advanced against that amount, so they were overpaid by $2000 and although they will not have to pay that back, they also will not get anything more on their 2020 return.

On the other hand, if their AGI is $155K in 2020, then they are entitled to a credit of $2900 - .05*($155K - $150K) = $2650. Subtract the $2400 they receive in advance and they get $250 for the dependent. That amount goes to $0 once they hit $160K.
Ah, I see what you were doing there; you were doing the phaseout math for sergio's specific case of MFJ receiving full stimulus advance, plus one new dependent in 2020. And you did the math correctly for that case.

I was concerned that others might construe your description to be a more general rule and might misapply it in their own situations which may differ from sergio's, so I was trying to state the more general rule. So, for example, someone who was MFJ in the phaseout range in 2019 and thus received a smaller than $2400 check, but did have a new dependent in 2020 like sergio, the top of their phaseout would be higher than the $160K number you calculated.
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
SecondCor521 is online now   Reply With Quote
Old 04-26-2020, 04:07 PM   #575
Recycles dryer sheets
 
Join Date: Dec 2016
Posts: 187
My daughter, who filed in mid Feb for a $263 refund still does not have it. Bank info is correct. When she checks online it constantly states “in progress, should take 2-3 weeks from when we receive it”. No updates, no other way to check.

No stimulus check. Message comes on “we can’t identify you”. I even tried it today for her and got the same message
Then locked out for 24 hours
Carol1862 is offline   Reply With Quote
Old 04-26-2020, 05:16 PM   #576
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
SecondCor521's Avatar
 
Join Date: Jun 2006
Location: Boise
Posts: 6,778
Quote:
Originally Posted by Carol1862 View Post
My daughter, who filed in mid Feb for a $263 refund still does not have it. Bank info is correct. When she checks online it constantly states “in progress, should take 2-3 weeks from when we receive it”. No updates, no other way to check.

No stimulus check. Message comes on “we can’t identify you”. I even tried it today for her and got the same message
Then locked out for 24 hours
Did she file on paper? It sounds like she did given the message you're describing mentioning several weeks.

My son filed on paper in late February and has not gotten his refund, although he did receive his stimulus payment on 4/15. It has shown in progress since end of March.

My guess is that the news reports that they've shut down IRS processing centers due to the current epidemic means that paper filers' refunds (like my son's) are in limbo.

(If she filed electronically and had a typical return then she should have received her federal refund about 10 days after filing.)
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
SecondCor521 is online now   Reply With Quote
Old 04-27-2020, 08:34 AM   #577
Thinks s/he gets paid by the post
 
Join Date: Feb 2014
Posts: 2,499
It says they will mail the check on May 1, 2020.

https://www.irs.gov/coronavirus/get-my-payment
jim584672 is offline   Reply With Quote
Old 04-27-2020, 08:48 AM   #578
Full time employment: Posting here.
 
Join Date: Aug 2010
Posts: 939
Quote:
Originally Posted by jim584672 View Post
It says they will mail the check on May 1, 2020.

https://www.irs.gov/coronavirus/get-my-payment
For those of us who filed 2019 on paper, we will have to wait for them to open the processing center later in the year. I am not sure if they will automatically verify for us and send us the check, or we will have to reconcile on our own via 2020 tax return, which means we will get our share in 2021.
fh2000 is offline   Reply With Quote
Old 04-27-2020, 09:01 AM   #579
Thinks s/he gets paid by the post
 
Join Date: Feb 2014
Posts: 2,499
Quote:
Originally Posted by fh2000 View Post
For those of us who filed 2019 on paper, we will have to wait for them to open the processing center later in the year. I am not sure if they will automatically verify for us and send us the check, or we will have to reconcile on our own via 2020 tax return, which means we will get our share in 2021.
I didn't file my 2019 yet and it says May 1.
jim584672 is offline   Reply With Quote
Old 04-27-2020, 09:25 AM   #580
Thinks s/he gets paid by the post
 
Join Date: Mar 2013
Location: Coronado
Posts: 3,138
Quote:
Originally Posted by jim584672 View Post
I didn't file my 2019 yet and it says May 1.
If you did not file for 2019 yet, they will use your 2018 return.
cathy63 is online now   Reply With Quote
Reply

Tags
stimulus payment


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Stimulus checks and July 15 tax due date Lsbcal FIRE and Money 22 04-10-2020 02:40 PM
Living on the go: how to receive & deposit paper checks someguy FIRE and Money 21 05-15-2015 01:36 PM
"Direct" Deposit TromboneAl FIRE and Money 16 03-23-2006 11:27 AM
Direct Deposit to ING Direct cube_rat Young Dreamers 7 03-06-2006 10:10 PM

» Quick Links

 
All times are GMT -6. The time now is 07:18 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.