Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 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: 6,430
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?
explanade 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 05-21-2020, 02:57 PM   #722
Thinks s/he gets paid by the post
 
Join Date: Nov 2006
Posts: 1,230
Quote:
Originally Posted by Cobra9777 View Post
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.
PatrickA5 is offline   Reply With Quote
Old 05-21-2020, 03:28 PM   #723
Thinks s/he gets paid by the post
Cobra9777's Avatar
 
Join Date: Jul 2012
Location: Texas
Posts: 2,619
Quote:
Originally Posted by PatrickA5 View Post
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: 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 05-21-2020, 03:41 PM   #724
Thinks s/he gets paid by the post
 
Join Date: Mar 2013
Location: Coronado
Posts: 3,138
Quote:
Originally Posted by explanade View Post
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.
cathy63 is offline   Reply With Quote
Old 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: 6,314
Quote:
Originally Posted by explanade View Post
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!"
scrabbler1 is offline   Reply With Quote
Old 05-21-2020, 10:21 PM   #726
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 13,935
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
Sunset is offline   Reply With Quote
Old 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: 9,843
Quote:
Originally Posted by cathy63 View Post
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
Dtail is offline   Reply With Quote
Old 05-22-2020, 03:22 PM   #728
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Koolau's Avatar
 
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 11,027
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.
Koolau is offline   Reply With Quote
Old 05-23-2020, 03:01 PM   #729
Moderator
sengsational's Avatar
 
Join Date: Oct 2010
Posts: 9,560
I got my paper check today. Two weeks ahead of the schedule posted earlier.
Quote:
Originally Posted by FIREd_2015 View Post
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 View Post
Did the timing of your paper check comply with the table published earlier in this thread? Not to be too nosey, but what date does that table say for you AGI?

https://www.early-retirement.org/for...er#post2414156
sengsational is offline   Reply With Quote
Old 05-23-2020, 03:23 PM   #730
Full time employment: Posting here.
 
Join Date: Aug 2010
Posts: 939
Quote:
Originally Posted by sengsational View Post
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.
fh2000 is offline   Reply With Quote
EIP card?
Old 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: 1,169
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
LRDave is offline   Reply With Quote
Old 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!
Mejit is offline   Reply With Quote
Old 05-25-2020, 03:25 PM   #733
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 LRDave View Post
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.
SecondCor521 is online now   Reply With Quote
Old 05-25-2020, 03:37 PM   #734
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RobbieB's Avatar
 
Join Date: Mar 2016
Location: Central CA
Posts: 8,420
I got mine. Next month I'll send it back to them.
__________________
Retired at 59 in 2014. Should have done it sooner but I worried too much.
RobbieB is online now   Reply With Quote
Old 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: 3,255
Quote:
Originally Posted by RobbieB View Post
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
Winemaker is offline   Reply With Quote
Old 05-27-2020, 06:53 AM   #736
Thinks s/he gets paid by the post
Badger's Avatar
 
Join Date: Nov 2008
Posts: 2,642
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!
Badger is offline   Reply With Quote
Old 06-01-2020, 11:09 PM   #737
gone traveling
 
Join Date: Dec 2010
Posts: 538
Quote:
Originally Posted by LRDave View Post

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.
Bongleur is offline   Reply With Quote
Old 06-04-2020, 05:42 PM   #738
Recycles dryer sheets
INTJ10's Avatar
 
Join Date: Feb 2011
Posts: 129
Quote:
Originally Posted by LRDave View Post
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 #.
INTJ10 is offline   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 06:38 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.