JPatrick
Thinks s/he gets paid by the post
- Joined
- Jun 3, 2005
- Messages
- 2,610
But, I did find 1200 mis-matched socks in my dryer.
I could use one white, ankle high, size 13 if you have an extra.
But, I did find 1200 mis-matched socks in my dryer.
We did a big Roth conversion last year, if they use AGI that includes that then we will be over the limit for a check. However, if they use 2018 we should be within the limits. Anyone have a link to how they will determine income levels ?
By April 17, the agency plans to launch “Get My Payment,” which will provide people with a status of their payment, how it will be sent — direct deposit or mailed check — and the date the money will be mailed or scheduled to be deposited into their bank account. The tool will be much like the current “Where’s My Refund,” which allows taxpayers to track their federal refund.
An additional feature on “Get My Payment” will allow taxpayers to provide their bank account information so they can receive their payment faster than a paper check. If a payment has already been scheduled, you can’t use this feature, the IRS said.
Got our $1100 today.
Not low AGI.
Straight into savings in case they ask for it back.
Isn't it amazing with all the many articles and threads on this subject out there in the world not a single one has posed this question? Starting to believe those stories about people not even having $400 for an emergency.Does anyone know if the transfer will happen automatically if you PAID taxes with a transfer from a checking account (as opposed to getting a refund that way)?
We normally owe, and for the last 2 years we have transferred money to the feds this way.
Just curious. Everything I read is about refunds paid by transfer.
Isn't it amazing with all the many articles and threads on this subject out there in the world not a single one has posed this question? Starting to believe those stories about people not even having $400 for an emergency.
We did a big Roth conversion last year, if they use AGI that includes that then we will be over the limit for a check. However, if they use 2018 we should be within the limits. Anyone have a link to how they will determine income levels ?
Nothing yet for us. They might be doing this alphabetically or by some sequence of SS#s.
As of today, the latest estimated timing from the IRS on economic impact checks is as follows:
The IRS will make about 60 million payments to Americans through direct deposit in mid-April (likely, the week of April 13th). The IRS has direct deposit information for these individuals from their 2018 or 2019 tax returns. This will include SSA beneficiaries who filed federal tax returns that included direct deposit information.
Shortly (hopefully within 10 days) after the first round of payments are made in mid-April, the IRS plans to make a second run of payments. These payments will be made to SS beneficiaries who did not file tax returns in 2018 or 2019 and receive their Social Security benefits via direct deposit. (The estimates are that nearly 99 percent of SS beneficiaries who do not file a return receive their SS benefits through direct deposit.)
About 3 weeks after the first round of payments are made (the week of May 4th), the IRS will begin issuing paper checks to individuals.
The paper checks will be issued at a rate of about 5 million per week, which could take up to 20 weeks to get all the checks out.
The checks will be issued in reverse “adjusted gross income” order—starting with people with the lowest income first.
Does anyone know if those folks not receiving any help will be notified of their ineligibility? Or is it likely to be a case of just assuming if you don't receive anything, you weren't eligible?
It's based on AGI, which is line 8b on the 2019 1040.
If you've filed 2019, they'll use that. If you haven't filed 2019 but have filed 2018, they'll use that.
If you don't qualify for the stimulus direct deposit based on 2019 or 2018, you may still qualify based on your 2020 AGI and can get the tax credit on your 2020 tax return.
I am curious about how the income levels are calculated. DD earns well above the individual limit, SIL has earnings but well under. Together they are above. They live in a community property state. Will their income be tested separately? They have two children. Will they receive $ for them.
It just depends on how they filed Federal taxes - state is irrelevant. Did they Federal file jointly or separately?
Do I understand this correctly?
Since I haven't filed our 2019 taxes, they'll use our 2018 AMT for this round?
If my 2020 (RMD-free ) taxes qualify, I can get a credit when I file those in 2021?
That would mean my 2019 AMT is never used?
I am curious about how the income levels are calculated. DD earns well above the individual limit, SIL has earnings but well under. Together they are above. They live in a community property state. Will their income be tested separately? They have two children under the age of 16. Will they receive $ for them.