Stimulus check

[Wickett]

Yeah I mean the purpose of this is to stimulate the economy, hence stimulus check. Almost everyone is going to blow it on non-essentials. If people lose their jobs, most will make collect more from unemployment + $600 stimulus than they made working.

The purpose was to give people extra money to cover their bills if work slowed down for them or they get sick, so they don't lose homes, cars repossessed, etc. The overall purpose for it isnt to purchase luxury goods.

If they got sick, it isn't like we would lay them off so they can collect unemployment (you can correct me if I'm wrong/if they would be able to collect unemployment if out sick but still actively employed by the pharmacy). They would end up sick for several weeks without any kind of paycheck coming in to cover their bills, from what I understand.

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[Mathejm]

Why is there extra $2400 in my bank account today? lol

I thought the cut off was $150k per house hold or a married couple with no children? Did anyone else get the $1200 check?

the payment cutoff is actually at 198k for married couples. The full $2400 is paid at <150k adjust gross income for couples. If you didn’t get the money then you don’t have your current bank account linked to the IRS. You will get the moneyas a credit on 2020 taxes if you didn’t collect. No worries you will get in

 

[Mathejm]

I got nothing. Oh well. My techs got their checks this week....I begged them to please set it aside in savings while all this crap is still going on. Theyre all paycheck to paycheck, and other than PTO, if they get sick for an extended period of time they don't have much of a safety net. One blew hers the day she got it (TV and $$$ sunglasses), and another is blowing it on a birthday party for her teenage kid (eff social distancing, I guess). Sigh.

You got nothing bc you are waiting on check in the mail. I’d suggest linking your bank account to Direct deposit next time you file taxes

 

[Mathejm]

I got nothing...as expected.

Thanks for nothing Trump!

Link your bank account to IRS next time you file taxes. You got the stimulus just not yet.wait for a check in the mail at the end of May

 

[owlegrad]

Link your bank account to IRS next time you file taxes. You got the stimulus just not yet.wait for a check in the mail at the end of May

My bank account is linked. Single male whose AGI>99K. Even if I did get it I would have to pay it back.

 

[Dred Pirate]

I almost got 5k..... damn..... That may be the easiest 5k I have ever received.

I gotta say - the last 3 months have been surreal.

you have 5 or 6 kids?

 

[Dred Pirate]

I almost got 5k..... damn..... That may be the easiest 5k I have ever received.

I gotta say - the last 3 months have been surreal.

you have like 5 or 6 kids?

 

[JustFillIt]

you have like 5 or 6 kids?

Myself, my wife (stay at home) - 5 children under the age of 12. I received 4900 dollars. Still fully employed with no concerns there...

Annual household income was about 120k

 

[Pronounce Doxazosin]

My bank account is linked. Single male whose AGI>99K. Even if I did get it I would have to pay it back.

Ditto here
I still checked anyways but nothing

 

[BC_89]

I got nothing. Oh well. My techs got their checks this week....I begged them to please set it aside in savings while all this crap is still going on. Theyre all paycheck to paycheck, and other than PTO, if they get sick for an extended period of time they don't have much of a safety net. One blew hers the day she got it (TV and $$$ sunglasses), and another is blowing it on a birthday party for her teenage kid (eff social distancing, I guess). Sigh.

Unfortunately, I've already seen the indulging rather than saving with no justification other then "they can." I'd like to think more people are utilizing the money for the right reasons (which would make sense to me, seeing that many are let go or hours extremely cut). Pandemic or not bills don't go away.

 

[Wickett]

You got nothing bc you are waiting on check in the mail. I’d suggest linking your bank account to Direct deposit next time you file taxes

I am on direct deposit, guy/gal. Me and my wife make too much money to get it.

 

[mentos]

the payment cutoff is actually at 198k for married couples. The full $2400 is paid at <150k adjust gross income for couples. If you didn’t get the money then you don’t have your current bank account linked to the IRS. You will get the moneyas a credit on 2020 taxes if you didn’t collect. No worries you will get in

Most married pharmacists make more than 198k combined so we won't get anything.

 

[mentos]

The purpose was to give people extra money to cover their bills if work slowed down for them or they get sick, so they don't lose homes, cars repossessed, etc. The overall purpose for it isnt to purchase luxury goods.

If they got sick, it isn't like we would lay them off so they can collect unemployment (you can correct me if I'm wrong/if they would be able to collect unemployment if out sick but still actively employed by the pharmacy). They would end up sick for several weeks without any kind of paycheck coming in to cover their bills, from what I understand.

Well then they should have called it a relief check or something because a stimulus check is exactly as I described:

"Stimulus checks are intended to stimulate the economy by providing consumers with some spending money."

What Is a Stimulus Check? Definition, How It Works, and Criticism

A stimulus check is money sent to a taxpayer by the U.S. government to stimulate the economy by providing consumers with some spending money.

www.investopedia.com

There were 3 giddy techs at work today, they said they were deciding how to spend their stimulus checks. One already spent his on car repairs, one is going to buy a 65" TV and stand, and one is going to get a couch from Wayfair. I imagine 99% of these checks will be blown on consumer goods by the end of the month. This is probably why the stock market is up now.

 

[BidingMyTime]

Do you have a reference for this? I thought college students were exempt as were foreign nationals.

College students aren't exempt, it's young adults who were claimed as dependents are exempt (the majority would be college students, but they wouldn't have to be.)

Trump's proposal for COVID-19 economic relief was a payroll tax cut. Trump's payroll tax cut proposal
Congressional Democrats (and, to be fair, also some Republicans) argued that a payroll tax cut, no matter how substantial, would not benefit a large proportion of the public and would probably not even do much to save jobs. Democrats argued for guaranteed sick pay and direct relief. And a bi-partisan committee hammered out the details.

Amazing how a payout to individuals was controversial and had to be hammered out, but Democrats and Republicans easily joined forces to make sure corporations get bail-out money for the next 5 years.

 

[mentos]

Just saw a new article ab 2k per month stimulis for everyone that makes under 130k per year

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Still a proposal.

 

[mentos]

Obviously it isn't official

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I doubt the republicans will go for it.

 

[Sine Cura]

"It's a political stunt to make Republicans look bad" - Republicans, probably

 

[Chrish]

Is it normal not to have received anything yet?

direct deposit. Combined AGI < 198k.

 

[aqb]

I haven't received anything, I inputted my bank info last week though. They had my info from 2018 but when I checked on their website, it said nothing was on file.

Had a refund in 2018, owed in 2019.

 

[PRex825]

Same situation- when I logged into the IRS site today they did NOT have direct deposit info from 2018 (even though I got a return then)… If you didn't already, get in there and upload your info.

UPDATE: Checked IRS site today, now lists a payment date for the funds to be released next week, so that's an improvement. Straight to the kid's college fund it shall go.

 

[aqb]

Just updated for me today too. New golf clubs here I come!!


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[VictorOfHungerGames]

Just saw a new article ab 2k per month stimulis for everyone that makes under 130k per year

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Any updates on this? $2000 a month seems extreme. Where is all that money coming from?

 

[mentos]

Any updates on this? $2000 a month seems extreme. Where is all that money coming from?

From our future and our kid's future.