|
|
05-21-2020, 02:26 PM
|
#721
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 7,422
|
Just got a check for $890 and change from the US Treasury.
I didn't expect it, thought my AGI for TY2018 was too high.
But apparently TY2019 counts as well?
|
|
|
|
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!
|
05-21-2020, 02:57 PM
|
#722
|
Thinks s/he gets paid by the post
Join Date: Nov 2006
Posts: 1,639
|
Quote:
Originally Posted by Cobra9777
Regarding money sent to deceased individuals... Is there anything authoritatively stating that this money must be returned? All I see is the FAQ, which says it "should" be returned, which sounds like a recommendation. But nothing that unambiguously states it is required by law, including consequences for not returning. Until I see something more than a weakly worded FAQ, I'm advising DMIL to keep the money she received for her deceased husband.
|
I haven't seen anything. Obviously, they knew this was going to happen, but were in a hurry to get the checks out. I plan on keeping my dads check until they show up at the door. Actually, I already gave it away.
It will be interesting to see what happens if there is a new round of stimulus.
|
|
|
05-21-2020, 03:28 PM
|
#723
|
Thinks s/he gets paid by the post
Join Date: Jul 2012
Location: Texas
Posts: 3,024
|
Quote:
Originally Posted by PatrickA5
I haven't seen anything. Obviously, they knew this was going to happen, but were in a hurry to get the checks out. I plan on keeping my dads check until they show up at the door. Actually, I already gave it away.
It will be interesting to see what happens if there is a new round of stimulus.
|
Once word gets out that there is no legal requirement and no consequences, all the people who voluntarily returned the money are going to want it back. Good luck with that.
I agree it makes more sense to hold the money and see how this plays out, including possible clarification in subsequent stimulus bills.
Right now, I don't think the IRS has the legal authority under the CARES act to require that taxpayers return the money. There is no clawback of any kind. This explains the weak wording in the FAQ, like "should" rather than must. That may change with subsequent legislation, but I doubt it.
So for now, we're holding on to it.
__________________
Retired at 52 in July 2013. On to better things...
AA: 85/15 WR: 2.7% SI: 2 pensions, SS later
|
|
|
05-21-2020, 03:41 PM
|
#724
|
Thinks s/he gets paid by the post
Join Date: Mar 2013
Location: Coronado
Posts: 3,674
|
Quote:
Originally Posted by explanade
Just got a check for $890 and change from the US Treasury.
I didn't expect it, thought my AGI for TY2018 was too high.
But apparently TY2019 counts as well?
|
Yes, if your 2019 tax return was filed and processed by around mid-March, then they used that.
|
|
|
05-21-2020, 04:08 PM
|
#725
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,682
|
Quote:
Originally Posted by explanade
Just got a check for $890 and change from the US Treasury.
I didn't expect it, thought my AGI for TY2018 was too high.
But apparently TY2019 counts as well?
|
To my great surprise, I just got a check for $1,200. I had filed my 2019 federal income tax return on March 18th and it showed my income way too high to get any money. My 2018 income was lower, low enough to get a check. I expected to get the money as a tax credit on my 2020 return, whose income will also be low enough. Somehow, they must have gone back and used my 2018 income and cut me the check anyway.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
|
|
|
05-21-2020, 10:21 PM
|
#726
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,012
|
Surprisingly, a person I know on SS, and gets it auto deposited into the bank for years, received the stimulus check in the mail.
__________________
Fortune favors the prepared mind. ... Louis Pasteur
|
|
|
05-22-2020, 04:41 AM
|
#727
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,232
|
Quote:
Originally Posted by cathy63
Yes, if your 2019 tax return was filed and processed by around mid-March, then they used that.
|
Actually my DGF's son had his return filed in mid April and already received his tax refund and stimulus.
In 2018, he was a dependent, so they couldn't have used that years' return.
__________________
TGIM
|
|
|
05-22-2020, 03:22 PM
|
#728
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 17,809
|
We had been asking the bank every 10 days or so if our "share" had hit our account. We receive our SS electronically and any tax refunds as well. Surprisingly, we JUST received "our share" by check. YMMV
__________________
Ko'olau's Law -
Anything which can be used can be misused. Anything which can be misused will be.
|
|
|
05-23-2020, 03:01 PM
|
#729
|
Moderator
Join Date: Oct 2010
Posts: 10,656
|
I got my paper check today. Two weeks ahead of the schedule posted earlier.
Quote:
Originally Posted by FIREd_2015
IRS Schedule For Mailing Paper Checks
Taxpayer AGI..........Date Check Mailed
$0 to $10000................April 24
$10,001 to $20,000........May 1
$20,001 to $30,000........May 8
$30,001 to $40,000........May 15
$40,001 to $50,000........May 22
$50,001 to $60,000........May 29
$60,001 to $70,000........June 5
$70,001 to $80,000........June 12
$80,001 to $90,000........June 19
$90,001 to $100,000.......June 26
$100,001 to $110,000.....July 3
$110,001 to $120,000.....July 10
$120,001 to $130,000.....July 17
$130,001 to $140,000.....July 24
$140,001 to $150,000.....July 31
$150,001 to $160,000.....August 7
$160,001 to $170,000.....August 14
$170,001 to $180,000.....August 21
$180,001 to $190,000.....August 28
$190,001 to $200,000.....September 4
|
Quote:
Originally Posted by sengsational
|
|
|
|
05-23-2020, 03:23 PM
|
#730
|
Thinks s/he gets paid by the post
Join Date: Aug 2010
Posts: 1,089
|
Quote:
Originally Posted by sengsational
I got my paper check today. Two weeks ahead of the schedule posted earlier.
|
My 2018 AGI disqualifies us, but 2019 would qualify but I filed on paper which sits in a trailer somewhere. So, I am still waiting for IRS to reopen.
|
|
|
05-25-2020, 10:56 AM
|
#731
|
Thinks s/he gets paid by the post
Join Date: Aug 2010
Location: Back woods of Fennario
Posts: 1,170
|
EIP card?
Anyone else received one (besides me)?
Got it in the mail yesterday. An amount less than the full amount due to AGI in 2018 being in the "nether regions" between full benefit and none.
I hate dealing with a prepaid debit card. But it says it is eligible for a teller transaction to roll the whole amount into your bank account.
Just wondering if anyone has dealt with an EIP card yet....
__________________
"Time wounds all heels...." - Groucho Marx
|
|
|
05-25-2020, 11:59 AM
|
#732
|
Confused about dryer sheets
Join Date: May 2011
Posts: 9
|
Got $2400 on check Saturday. Bought 11” IPAD PRO this morning. I’m in da money!
|
|
|
05-25-2020, 03:25 PM
|
#733
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2006
Location: Boise
Posts: 7,866
|
Quote:
Originally Posted by LRDave
Anyone else received one (besides me)?
Got it in the mail yesterday. An amount less than the full amount due to AGI in 2018 being in the "nether regions" between full benefit and none.
I hate dealing with a prepaid debit card. But it says it is eligible for a teller transaction to roll the whole amount into your bank account.
Just wondering if anyone has dealt with an EIP card yet....
|
I didn't but I did see a news article indicating that they were issuing some prepaid debit cards like you describe. I'm not clear on what the criteria is for those versus a paper check.
__________________
"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.
|
|
|
05-25-2020, 03:37 PM
|
#734
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
|
I got mine. Next month I'll send it back to them.
|
|
|
05-26-2020, 06:26 AM
|
#735
|
Thinks s/he gets paid by the post
Join Date: Sep 2014
Location: The Great Wide Open
Posts: 3,789
|
Quote:
Originally Posted by RobbieB
I got mine. Next month I'll send it back to them.
|
Likewise. We haven't filed for 2019 yet but the check came Thursday.
__________________
Give me Liberty or give me Death. Patrick Henry
|
|
|
05-27-2020, 06:53 AM
|
#736
|
Thinks s/he gets paid by the post
Join Date: Nov 2008
Posts: 3,395
|
Check came in the mail yesterday for $2148.25. Kind of surprised. T first I thought I wasn't going to get one and later thought if I did it wouldn't be until sometime in July.
It will be going to a couple of charities that need it more. We still get SS and a couple of small pensions.
Cheers!
|
|
|
06-01-2020, 11:09 PM
|
#737
|
gone traveling
Join Date: Dec 2010
Posts: 538
|
Quote:
Originally Posted by LRDave
I hate dealing with a prepaid debit card. But it says it is eligible for a teller transaction to roll the whole amount into your bank account.
Just wondering if anyone has dealt with an EIP card yet....
|
The one I got has nothing about that. IF you activate it, and IF the bank accepts that debit card, I suppose they would issue the cash to you & then let you write a deposit slip.
|
|
|
06-04-2020, 05:42 PM
|
#738
|
Recycles dryer sheets
Join Date: Feb 2011
Posts: 141
|
Quote:
Originally Posted by LRDave
Anyone else received one (besides me)?
Got it in the mail yesterday. An amount less than the full amount due to AGI in 2018 being in the "nether regions" between full benefit and none.
I hate dealing with a prepaid debit card. But it says it is eligible for a teller transaction to roll the whole amount into your bank account.
Just wondering if anyone has dealt with an EIP card yet....
|
Not that big of a deal to ACH transfer to your account. Activate the card and order the ACH on their website. No fees. Just need the routing # and account #.
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|