Angler #1

Congress if passed by the

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House calls for a $1200 check for every one on Social Security . I just hope we all get a chance to out last this virus and get to spend it Peace and Prayers

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2 hours ago, Angler #1 said:

House calls for a $1200 check for every one on Social Security . I just hope we all get a chance to out last this virus and get to spend it Peace and Prayers

So what if you're of full retirement age, work full time, and collect a monthly SS check too,

do you get 2 checks?       Ya, I'm a double dipper

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ANYONE making less than $75K in 2019 will get the (not-so) free money, $1200. Married, up to $150K gets $2400. $500 for each kid.

 

If you filed a tax return in 2019, they will find you automatically, and the money will be direct deposited into your account (if you had a tax return in 2019 paid to you that way.) If you didn't file a tax return in 2019, they go back to 2018. If neither, there will be an application to let them know you exist. Not sure if that has been hashed out yet exactly what you need to do.

 

If you filed a return but didn't give them your bank account and routing #, you will get a check in the mail.

 

I have HUGE problems with all of this, but that is for another forum.

 

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29 mins ago, Steve in Mass said:

ANYONE making less than $75K in 2019 will get the (not-so) free money, $1200. Married, up to $150K gets $2400. $500 for each kid.

 

If you filed a tax return in 2019, they will find you automatically, and the money will be direct deposited into your account (if you had a tax return in 2019 paid to you that way.) If you didn't file a tax return in 2019, they go back to 2018. If neither, there will be an application to let them know you exist. Not sure if that has been hashed out yet exactly what you need to do.

 

If you filed a return but didn't give them your bank account and routing #, you will get a check in the mail.

 

I have HUGE problems with all of this, but that is for another forum.

 

I think married couples earning over $150k get a prorated deposit that phases out at $198K. 

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15 hours ago, Angler #1 said:

House calls for a $1200 check for every one on Social Security . I just hope we all get a chance to out last this virus and get to spend it Peace and Prayers

You can’t take it with you. This money is intended to put cash back into the economy. Spend it :)

 

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5 mins ago, ged said:

I think married couples earning over $150k get a prorated deposit that phases out at $198K. 

Yes, that may be correct, but wasn't clear at the last discussion of the 800 page bill that few have actually read.

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1 hour ago, ged said:

You can’t take it with you. This money is intended to put cash back into the economy. Spend it :)

 

ged if you note I mention spending it if I am able to stay away from getting this virus:howdy:Peace and Prayers

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Although the 2018  and 2019 tax return years may be used in determing the rebate amounts there could be a clause in the bill using the adjusted taxable 2020 income amounts as a basis for a future tax adjustment which would allow for a possible repayment if the rebates were overpaid.

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19 hours ago, Angler #1 said:

House calls for a $1200 check for every one on Social Security . I just hope we all get a chance to out last this virus and get to spend it Peace and Prayers

I have never heard that?    The ones in charge are the Senate Finance Committee.

A problem is that many seniors do not fill out tax forms because they don't make enough income to.   And the government has little idea who they are.

I have heard that SS seniors & SSI, veterans etc. will need to somehow tell them?

 

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1 hour ago, bb1 said:

....

A problem is that many seniors do not fill out tax forms because they don't make enough income to.   And the government has little idea who they are.

I have heard that SS seniors & SSI, veterans etc. will need to somehow tell them?

 

 Two situations here......

 

If one receives a SS check, but does not file tax returns because their income is below the threshold, the government will send them a stimulus check using the info 0n their Form SSA-1099 SS Benefit Statement.

 

On the other hand, if one does not receive SS benefits and also does not file taxes because their income is below the threshold, they may need to file a 2019 tax return.  

 

 

 

 

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