Them round 2 corona checks coming next month!!!!!!

[Khalil's_Black_Excellence]

Easier said than done, i know everyone on the internet is perfect but most Americans in real life are living paycheck to paycheck. Sue me for hoping that I was going to receive a check today

Not disputing that or stating anything about trying to be perfect, just that if your funds are constantly limited, then you need to be keeping a close eye on it anyways.

 

[The Up Right Man]

Negged

 

[Bay Area]

Not disputing that or stating anything about trying to be perfect, just that if your funds are constantly limited, then you need to be keeping a close eye on it anyways.

Bruh I never stated that I was down to my last grain of rice, all im saying is nikkas in this thread were confidently speculating that the direct deposit might hit today. I woke up slightly disappointed and told nikkas to stop expecting anything before the 13th. Not sure how that opinion became so controversial but here we are...

 

[The Fukin Prophecy]

So this coming out of our return taxes next year and the year after. I knew this wasn’t no free money

Only ones that got "free money" was the 1%...

Record buybacks on wallstreet going on right now...and all of it with your money which you won't see a dime of...

 

[R.E.N. Spells Ren]

So this coming out of our return taxes next year and the year after. I knew this wasn’t no free money

Link?

 

[filial_piety]

Link?

So why are people calling it an advance refund? Does that mean the government is taking away my refund next year?
This is the question seeming to cause the most panic on Twitter. The answer is no. Bottom line: your 2020 tax return and any refund you’re due when you file that return in early 2021 will not be affected by the check you’re getting now.

Assuming you get the full stimulus payment now, you won’t get it again, No double dipping.

Does the stimulus money count as taxable income?
No. The stimulus checks are nontaxable; they will not be included in your 2020 income. They’re officially addressed in the CARES Act as a “Recovery Rebate for Individuals.” These payments won’t push you up into the next tax bracket for 2020 taxes, if you’re already on the edge.

“Your taxes aren’t going up next year because of this package — there’s no big income tax changes in the CARES Act,” says Bill Smith, Managing Director for CBIZ MHM's national tax office, a nationwide financial services firm.

What if I make more money this year and don’t qualify for what I received—do I have to pay it back?
Another big worry for people. But the good news is that the answer is no.

Here’s what that could look like: You’re an individual with no children who made $60,000 in 2019, so you qualify for the full $1,200 stimulus check. In 2020, you end up making $85,000, which puts you in the phaseout range, meaning you technically are eligible for a $700 stimulus payment. You do not need to pay back the additional $500.

Source: Don’t Worry. The $1,200 Stimulus Payment Won’t Cut Into Your Tax Refund Next April

 

[Wayans Brehs]

THIS MONEY IS NOT TAXABLE. YOU ARE NOT PAYING ANY OF IT BACK. Just do a Google search and read any of the various articles on this. I thought y'all were smarter than this

 

[King Poetic]

when will said web-based portal be up?

u have to keep checking the irs.gov site

they said in a few weeks and that was last week

 

[Serious]

fukk is it at?

Next week

 

[levitate]

So why are people calling it an advance refund? Does that mean the government is taking away my refund next year?
This is the question seeming to cause the most panic on Twitter. The answer is no. Bottom line: your 2020 tax return and any refund you’re due when you file that return in early 2021 will not be affected by the check you’re getting now.

Assuming you get the full stimulus payment now, you won’t get it again, No double dipping.

Does the stimulus money count as taxable income?
No. The stimulus checks are nontaxable; they will not be included in your 2020 income. They’re officially addressed in the CARES Act as a “Recovery Rebate for Individuals.” These payments won’t push you up into the next tax bracket for 2020 taxes, if you’re already on the edge.

“Your taxes aren’t going up next year because of this package — there’s no big income tax changes in the CARES Act,” says Bill Smith, Managing Director for CBIZ MHM's national tax office, a nationwide financial services firm.

What if I make more money this year and don’t qualify for what I received—do I have to pay it back?
Another big worry for people. But the good news is that the answer is no.

Here’s what that could look like: You’re an individual with no children who made $60,000 in 2019, so you qualify for the full $1,200 stimulus check. In 2020, you end up making $85,000, which puts you in the phaseout range, meaning you technically are eligible for a $700 stimulus payment. You do not need to pay back the additional $500.

Source: Don’t Worry. The $1,200 Stimulus Payment Won’t Cut Into Your Tax Refund Next April

 

[Francis White]

Just curious, I claimed Sunday and got my unemployment plus the 600 Wednesday and got another deposit for the state this morning but not the 600. Is it biweekly?

 

[R.E.N. Spells Ren]

So why are people calling it an advance refund? Does that mean the government is taking away my refund next year?
This is the question seeming to cause the most panic on Twitter. The answer is no. Bottom line: your 2020 tax return and any refund you’re due when you file that return in early 2021 will not be affected by the check you’re getting now.

Assuming you get the full stimulus payment now, you won’t get it again, No double dipping.

Does the stimulus money count as taxable income?
No. The stimulus checks are nontaxable; they will not be included in your 2020 income. They’re officially addressed in the CARES Act as a “Recovery Rebate for Individuals.” These payments won’t push you up into the next tax bracket for 2020 taxes, if you’re already on the edge.

“Your taxes aren’t going up next year because of this package — there’s no big income tax changes in the CARES Act,” says Bill Smith, Managing Director for CBIZ MHM's national tax office, a nationwide financial services firm.

What if I make more money this year and don’t qualify for what I received—do I have to pay it back?
Another big worry for people. But the good news is that the answer is no.

Here’s what that could look like: You’re an individual with no children who made $60,000 in 2019, so you qualify for the full $1,200 stimulus check. In 2020, you end up making $85,000, which puts you in the phaseout range, meaning you technically are eligible for a $700 stimulus payment. You do not need to pay back the additional $500.

Source: Don’t Worry. The $1,200 Stimulus Payment Won’t Cut Into Your Tax Refund Next April

Thanks. That makes sense. Gotta asks for links when people say shyt these days cuz there’s so much misinformation out there.

 

[Germms]

Negged

 

[pcpking]

Yeah

Geat yo money then

 

[Voice of Reason]

Just curious, I claimed Sunday and got my unemployment plus the 600 Wednesday and got another deposit for the state this morning but not the 600. Is it biweekly?

What state are you in I’ve been waiting weeks for mine to kick in?