Will you get a stimulus check and how much?

[DIS_MERI]

The taxes you would have submitted in the last 3 months would have been 2019 taxes. Nothing would be based off 2020 as I believe it would default to 2018 then if you hadn't submitted your taxes for last year yet.

The "check" is based off that, but this is actually an advance of a tax credit for your 2020 taxes. So my XH will receive an advance of a credit that he won't be eligible for (we actually actively try not to screw each other over, refreshing for a divorced couple I realize), since I get to claim her in 2020. Alternating claiming different kids in different years is pretty common, but not sure Congress realizes that.
(I have a BS in Accounting so I Nerd Out Big Time over stuff like this)

“The way the law is written, the checks that will be sent now are actually just advanced payments of a new refundable tax credit for the 2020 tax year. So, if you don’t get a stimulus payment in 2020, you can claim it next year as a refund or reduction of the tax you owe if you file a 2020 tax return by April 15, 2021.”

From: https://fox40.com/news/coronavirus/faqs-about-stimulus-checks-when-how-much-will-i-be-taxed-later/

 

[DLgal]

$3400 for us.

 

[Heather07438]

If Kenny Rogers was still with us he would have gotten $3200

Around half of that for me, $1700.

 

[Flamingeaux]

DW and I will get the $2400 and each of our kids should get the $1200.

 

[deide71]

$500 for our 16 y.o.,which is fine...we are both still employed so I do feel,it should go to those that need it. I was hoping DD 20 might qualify as she lost her part time college job that she used to pay her rent but since we claim her as a dependent looks like a no. Hopefully she will qualify for some unemployment to help...

 

[sethschroeder]

The "check" is based off that, but this is actually an advance of a tax credit for your 2020 taxes. So my XH will receive an advance of a credit that he won't be eligible for (we actually actively try not to screw each other over, refreshing for a divorced couple I realize), since I get to claim her in 2020. Alternating claiming different kids in different years is pretty common, but not sure Congress realizes that.
(I have a BS in Accounting so I Nerd Out Big Time over stuff like this)

“The way the law is written, the checks that will be sent now are actually just advanced payments of a new refundable tax credit for the 2020 tax year. So, if you don’t get a stimulus payment in 2020, you can claim it next year as a refund or reduction of the tax you owe if you file a 2020 tax return by April 15, 2021.”

From: https://fox40.com/news/coronavirus/faqs-about-stimulus-checks-when-how-much-will-i-be-taxed-later/

The payment is made based on 2019 it would seem and your tax filing or if no tax filing is on record they will go to 2018. The reason you receive a credit on your taxes in 2020 is because they are not taxing this income. I don't see how you wouldn't get the money even if you didn't want it.

If you have someone do your taxes you likely want to reach out to them. Otherwise possibly there will be an explanation for your specific case brought up elsewhere.

https://www.govinfo.gov/content/pkg/CREC-2020-03-25/pdf/CREC-2020-03-25.pdfPage S2079

This seems to be the main tidbit but I am just guessing.
"(1) IN GENERAL.—Subject to paragraph (5), each individual who was an eligible individual for such individual’s first taxable year beginning in 2019 shall be treated as having made a payment against the tax imposed by chapter 1 for such taxable year in an amount equal to the advance refund amount for such taxable year. "

 

[tinatark]

If Kenny Rogers was still with us he would have gotten $3200

Around half of that for me, $1700.

Pretty sure his income was to $$$ to qualify.

$1200 for us, thanks to me not filling taxes for 2019 yet. If I had filed, would be 0. I understand as the bill is written we will get to keep the $.

For us, we thought this year would be the first full year of business since 2015 (Gatlinburg wildfires in 11/2016, we partially reopened in 2018, fully reopened in May 2019).. But, no.

 

[runwad]

$2400 for DH & I.

DD24 will get $1,200

DD22 & DS19 Nothing

 

[Heather07438]

Pretty sure his income was to $$$ to qualify.

$1200 for us, thanks to me not filling taxes for 2019 yet. If I had filed, would be 0. I understand as the bill is written we will get to keep the $.

For us, we thought this year would be the first full year of business since 2015 (Gatlinburg wildfires in 11/2016, we partially reopened in 2018, fully reopened in May 2019).. But, no.

In the song Kenny would've gotten $3200.

"...You picked a fine time to leave me Lucille
4 hungry children and a crop in the field
You picked a fine time to leave me Lucille "

Sorry to hear you've had double the disruption. Hang in there!

 

[Renarr]

It's going to be really close to $0, due to an unfortunate set of circumstances that inflated our AGI in 2018. And I'm grateful for the July 15 deadline, as a different set of unusual circumstances inflated our tax bill in 2019. If it was based on our AGI in 2019, we'd only be getting about $1,000 or so anyway.

 

[DIS_MERI]

It's going to be really close to $0, due to an unfortunate set of circumstances that inflated our AGI in 2018. And I'm grateful for the July 15 deadline, as a different set of unusual circumstances inflated our tax bill in 2019. If it was based on our AGI in 2019, we'd only be getting about $1,000 or so anyway.

Sounds like you won't get the full immediate issue "check" but because this is an advance on a refundable credit that will be part of your 2020 taxes (filed in 2021), if you don't have unusual circumstances in 2020 as well then you will get it in the long run.

 

[Renarr]

Sounds like you won't get the full immediate issue "check" but because this is an advance on a refundable credit that will be part of your 2020 taxes (filed in 2021), if you don't have unusual circumstances in 2020 as well then you will get it in the long run.

Yeah, it's not unusual this year (so far, *knock on wood*) but a new normal this year. I suspect it'll end up being about an $800 rebate or so for the tax rebate.

 

[MommyinHonduras]

We have 4 kids under 17 and are under the minimum so it seems $4400. My husband is self employed and is currently still working but future is uncertain. Still unsure how I feel about it personally. Hopefully it hits a lot of people who it can help and those who it does not can find relief is other ways. We will add it to our emergency funds for future use initially. We are living abroad on a small island in the Caribbean and most of the GDP here is tourist that will be close to nothing this year. Hard times ahead.

 

[sweetpeama]

$3400 for DH, 2 kids ages 15 and 12 and myself. As DH is employed at an essential company and I am not employed outside the home we should continue to have close to our normal income. DH's company is not permitting any overtime right now and he normally gets 45-50 hours a week this time of year. Right now even though my state is going into a 2 week stay at home order but as long as resturants are allowed to continue with take out and delivery DH has enough seniority that he will continue to work. If that and the schools doing pick up meals in a drive up fashion gets shut down so his employer is down to just providing for hospitals and prisons/jails then he might not have enough seniority to continue working and will be furloughed.
Our plan is to place the money in our savings account and not touch it in case we need it. Once this is over we originally talked about paying down some debt though I plan to talk with DH about using part of it to have the transmission on the truck rebuilt especially since my car is down (could be battery, alternator, fuel pump all easily repairable or it could be engine locked up in which case it's a goner) and even when running my car only gets 13 miles to the gallon and the truck gets 18 (the real annoying thing is inbetween I had a car that was getting 23 but the transmission went on that as well). Truck is valued enough that it's worth fixing the transmission but the cost on the car with good gas milage is more than it's worth. Personally I would love to use part of it to get myself a reliable car if we don't need the money for expenses but I know DH won't go for that idea.

 

[mi*vida*loca]

I will get 1700 for myself and DD14.

My SO (we live together but not married) will get 1200

DS20 won’t get anything since I claim him. He filed taxes and isn’t working since all movie theaters closed. It really sucks that they left out this demographic. He could really use the money since he isn’t working and pays some of his own stuff (gas, clothing, haircuts, toiletries, eating out, etc).

We are shutdown in Nj and Philadelphia but my SO and I are both essential. Thankfully we haven’t lost our jobs (I work in healthcare and he works for a health insurance company) so we are ok. The money isn’t needed but we are putting it away in case anything happens.

 

[Dakota731]

Curious about the folks getting zero. Are you in a high cost of living thus needing the money (from the upset response to it)? or just have not saved alot of money? From what I read you get zero is your over 200k a year together. Our family will be getting some money but we will most likely be donating half to help our community.

We get the full amount but there are a lot of high income earners on these boards that’s for sure!

 

[MillauFr]

We get the full amount but there are a lot of high income earners on these boards that’s for sure!

Did you intend to infer that I posted the above quote? Or is the quoting feature on here screwed up currently?

 

[SaintsManiac]

$2900

 

[Meglen]

Did you intend to infer that I posted the above quote? Or is the quoting feature on here screwed up currently?

I think he intended to quote me and answer is it got all messed up.

 

[Heather07438]

$1200 is fine. No $500 for DS17.

My momma taught me don't look a gift horse in the mouth. Good advice.