Stimulus $600

[Timeisprecious]

FINALLY! It wasn't here earlier this morning, but there is a brand new deposit from the IRS into my checking account of $451.95, which is about what I figured it would be.



Mine never showed up as pending, for some reason.

Wow - why such an odd amount? Others in here said they've received deposits of $600, $1200, etc. - DW's and mine was $1200.

 

[ProspectiveBum]

Wow - why such an odd amount? Others in here said they've received deposits of $600, $1200, etc. - DW's and mine was $1200.

I’m not W2R, but I also received an odd amount (just this morning). It’s because my AGI for 2019 was a bit over the $150K threshold for a MFJ filer to get the full payment, but still low enough to get some stimulus money.

 

[Gumby]

If you are Married Filing Jointly and have over $150k AGI, it goes down $5 for every $100 you are over, so by the time you hit $174k AGI, you'll get zero.

 

[Dtail]

If you are Married Filing Jointly and have over $150k AGI, it goes down $5 for every $100 you are over, so by the time you hit $174k AGI, you'll get zero.

Thus anyone who gets between 0 and 1,200 or the single version of 0 to 600 is effectively letting folks know their AGI.

 

[Koolau]

I really DO need to check my B & M bank - not so much for the stimulus check but to see if my check from mainland CU has cleared my local bank. We were pretty tight on our principal checking account after last-minute charity/kids in 2020. Wouldn't want to bounce a check this late in life. (Come on stimulus, er, I mean Ajax Credit Union!) Sometimes our local bank holds checks for a long time. YMMV

 

[Plantman]

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?

 

[CardsFan]

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. Same here. I guess they are using 2019 records, and we did not get an electronic refund last year (owed a few bucks).

 

[REWahoo]

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. Same here. I guess they are using 2019 records, and we did not get an electronic refund last year (owed a few bucks).

And the same here, for what I assume is the same reason as CardsFan.

 

[cathy63]

Just checked. Same here. I guess they are using 2019 records, and we did not get an electronic refund last year (owed a few bucks).

If you paid electronically, then they could have done a deposit to that account. This is different than the previous stimulus where they could only deposit to accounts that had gotten a refund unless you submitted your banking info online. Here's what the new law says about electronic deposits for the second stimulus:

‘‘(i) any account to which the payee authorized, on or after January 1, 2019, the delivery of a refund of taxes under this title or of a Federal payment (as defined in section 3332 of title 31, United States Code),
‘‘(ii) any account belonging to a payee from which that individual, on or after January 1, 2019, made a payment of taxes under this title, or
‘‘(iii) any Treasury-sponsored account (as defined in section 208.2 of title 31, Code of Federal Regulations).

Theoretically, even if you only made an estimated payment for your 2018 taxes on 1/15/2019 online you should still be able to get the stimulus payment electronically.

Oh well, it's probably a waste of time to try and understand the thinking of the Treasury Dept on this. Hopefully your paper check comes quickly and all is well.

 

[foxfirev5]

Got ours's. It will drive our neighbor nuts. He doesn't understand the the difference between income and assets. ��

 

[ArmchairMillionaire23]

We received an overnight deposit from US Treasury of $1,200. That was fast. I did have a refund in 2019 and had my bank account information on the IRS tax return.

We got the e-mail from the bank this past Friday that the deposit was on file. It was confirmed on Monday. Super fast!

 

[martyp]

I got notice from BofA of the $600 deposit on Jan 1st. They got it right this time. My wife is not a US citizen so just the $600. Under the original CARES act we were not eligible for anything because I filed a joint return and my wife uses an ITIN instead of a Soc Sec number. The rumor is that this legislation retroactively changes that so I might get the original stimulus check after I do this next tax return. However, we live in Thailand so a lot of good our stimulus check will do in the US.

 

[Joe1954]

Wonder if I will get the $600

Because of Covid, we did not get our 2019 taxes done until the end of November (and missed electronic filing deadline by one day ! Had to mail paper returns.). We knew we would be getting a refund, so the late filing was fine. However, if they use 2019 to determine your stimulus check, I wonder if we will lose out . Did not consider that a second stimulus would be coming.

 

[bluelight]

Our check was in our account Monday morning. It will go towards offsetting the old crown that broke over the weekend. I guess the dentist is considered a small business.

 

[martyp]

Because of Covid, we did not get our 2019 taxes done until the end of November (and missed electronic filing deadline by one day ! Had to mail paper returns.). We knew we would be getting a refund, so the late filing was fine. However, if they use 2019 to determine your stimulus check, I wonder if we will lose out . Did not consider that a second stimulus would be coming.

For my first stimulus check they used my 2018 return which did not reflect my 2019 marital status. I will be able to correct that when I next file my taxes this year. You should be able to do the same on your 2022 taxes if you don’t get this one. You will just have to wait a year which of course defeats the purpose of the stimulus ( or maybe not in 2022).

 

[Surewhitey]

Got ours yesterday. Was going to buy a part for the dryer. Then I found a video that said to just smack the part to make it work again. Dang'd if it didn't work...

Just paid the property taxes, so it'll be a start to replenishing the account.

 

[jldavid47]

Got ours's. It will drive our neighbor nuts. He doesn't understand the the difference between income and assets. ��

There are a LOT of people that don't understand that difference.


Back on thread. Ours showed up on 1/1.

 

[USGrant1962]

For my first stimulus check they used my 2018 return which did not reflect my 2019 marital status. I will be able to correct that when I next file my taxes this year. You should be able to do the same on your 2022 taxes if you don’t get this one. You will just have to wait a year which of course defeats the purpose of the stimulus ( or maybe not in 2022).

I think both stimulus payments get reconciled on 2020 taxes - you won't have to wait until next year.

 

[Gumby]

I think both stimulus payments get reconciled on 2020 taxes - you won't have to wait until next year.

I think you are correct, although I note that as of the 1/4/21 update the H&R Block tax package does not do that.

 

[martyp]

I think both stimulus payments get reconciled on 2020 taxes - you won't have to wait until next year.

I already got this years $600 and it is the correct amount. I just have to sort out the previous 2020 payment on my upcoming taxes.

 

[Badger]

Checked my CU account and nothing yet. Maybe the "check is in the mail".


Cheers!

 

[DrRoy]

Ours hit Monday. For now it will delay when I need to transfer funds into the checking account.

 

[audreyh1]

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:

And while many Americans have received their second stimulus payments as of Tuesday night, the IRS now says that people receiving the Payment Status #2 message on the Get My Payment tool will have to wait until they file their 2020 taxes to get the payment, even if they received the first stimulus check with no issues.

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.

A spokesperson for Grassley, the chief architect of the tax portion of the GOP’s plan, said lawmakers want to make the tax treatment of stimulus checks cohere with how the tax code normally treats the dead.

“It’s consistent with ordinary tax rules for tax benefits and tax filing obligations” for the deceased, said Michael Zona. “In the year of death, one final regular tax return is due and all tax benefits are allowed regardless of when in the year the taxpayer died.”

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

 

[street]

I think you are correct, although I note that as of the 1/4/21 update the H&R Block tax package does not do that.

So, not sure what you mean, but I go in person to H&R office to get my taxes done. You are saying they don't handle the stimulus tax event for my 2020 taxes

 

[Gumby]

So, not sure what you mean, but I go in person to H&R office to get my taxes done. You are saying they don't handle the stimulus tax event for my 2020 taxes

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).