Did you get yours yet?
- Thread starter skeets
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I did see on the news this week the Dems are pushing for another $1200. per person and that same $600. a week extra in unemployment for people getting unemployment. What unemployed person wants to go back to work getting $1000. a week from the govement or state.
I did get my check when ever it was. As a small business/sole proprietorship owner I asked my banker about Covid money the goverment was handing out this spring , she said becouse I had no employees there was nothing for me. My sister works at a bank and she saw pleanty of Covid relief checks. One old lady said she bought and sold antiques but becouse of the virus she couldn't enter folks houses to 'buy' antiques so she was cashing a check each week for a $1000. bucks.
I did get my check when ever it was. As a small business/sole proprietorship owner I asked my banker about Covid money the goverment was handing out this spring , she said becouse I had no employees there was nothing for me. My sister works at a bank and she saw pleanty of Covid relief checks. One old lady said she bought and sold antiques but becouse of the virus she couldn't enter folks houses to 'buy' antiques so she was cashing a check each week for a $1000. bucks.
The second one is being proposed along with much political debate on both sides, so there has been nothing finalized on when or how much. How ever as I am whining about mine, I come to find I am not alone in my plight. The IRS, really is one agency that needs to be gone and is so mucked up in red tape and BS they have out lived their usefulness. It seem when you speak to them the left hand has no idea what the right hand is doing. IE speak to 2 different people at the IRS and you will get 2 different answers that are 180 degrees out of phase, it is sad but true.
ehenry
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The wife and I got the stimulus check. Dont remember exactly when it came.
D2Cat, you're 100% correct.
D2Cat, you're 100% correct.
armylifer
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No matter what your thoughts about the stimulus checks, it is not free money. There will be a very high price to pay for it. The piper always gets paid, and he gets paid bigtime! No one has addressed how the payback will be handled. That is what I am afraid of. I never applied for that money and I did not need it, but it showed up in my bank account one day. If they can put it in your account without asking, they can take what they want out of it without asking. Wait for the shoe to drop and then we will all feel the great pain!
RCW
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You said a mouthful right there.
Kind of an oxymoron, but I used my stimulus to pay land/property taxes, and it didn't cover the whole tab.
I used someone's tax money to pay my taxes.
But that "someone" might be me, my kids and my grandkids that I don't even have yet.
As "they" say, only 2 guarantees in life.....
armylifer
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What I am wondering is if we are going to receive a 1099 at the end of the year so that we have to claim the stimulus money as income. If that happens, then many people that have a low income exemption on their property tax may no longer be elegible for that exemption. In my state, that means the property valuation would be updated to a new higher valuation and result in paying much higher property taxes for years to come. If a 1099 is not issued, then there will be no effect. I would not bet even $0.01 on them not making the stimulus money count as income.
The covid stimulus checks are structured as refundable tax credits, and are non taxable. This is why even folks who do not file income taxes are still able to get the payments. So, the short answer is no, the money will not be paid back. There will be no 1099's sent. It will just be shoveled up on top of our growing national debt.
armylifer
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I read almost exactly what you wrote, some months ago. I am a skeptic and I will only believe it when I see it. The IRS has funny ways of interpreting laws the way that they want to.
RCW
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Good way to be.
Trust me, not trying to put a political slant on this other than my experience.
I’ve lived in a very rural part of The People’s Republic of New York, or New Yorkistan, my entire life.
Last 15 years or so, the state has cooked up these credits/rebates/refunds/graft payments to taxpayers for many varied reasons. Very generically, they run a couple hundred dollars each. Maybe get one in a year, others none.
Oddly, the checks usually show up in October...just before elections. Hmm..wonder why that is?!?!
If you look at the fine print, some/all of these credits/rebates/refunds are taxable as unearned income.....
Of course, being a model citizen I claim all of them per NYS rules.....coff, coff...
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Hey Skeets, if you have any intention of receiving that "stimulus" check you have a deadline of Oct. 15 to get it filed.
RCW
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Hey skeets - - just heard on the news there's a deadline of tomorrow (11/21/2020) at 3pm to do something about the first round stimulus payments.
It wasn't great detail, but said you can go to irs.gov, then look for "get my economic impact payment" to register for yours.
Hope that's helpful if you haven't gotten any headway.
P.S. - Looked up the IRS.gov website, and it’s right on main page, top left button.
Again, hope it’s helpful.
It wasn't great detail, but said you can go to irs.gov, then look for "get my economic impact payment" to register for yours.
Hope that's helpful if you haven't gotten any headway.
P.S. - Looked up the IRS.gov website, and it’s right on main page, top left button.
Again, hope it’s helpful.
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