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Old 03-25-2020, 07:55 AM
 
Location: Sweet Home Chicago!
5,637 posts, read 4,246,516 times
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Question on stimulus checks to individuals - if anyone knows. The cutoff is apparently $75K.

How will they measure that? current pay stub, last years tax filing?

How will they handle married couples making different amounts. Spouse A makes $150K, Spouse B makes $50K. Does a check get issue to spouse B in that scenario or do they consider married couples total household income of $200K?
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Old 03-25-2020, 08:05 AM
 
Location: Mount Airy, Maryland
12,053 posts, read 6,823,793 times
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I believe it's based on last year's tax filing. I also believe it is the collective income of the couple.
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Old 03-25-2020, 09:00 AM
 
1,364 posts, read 343,482 times
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Quote:
Originally Posted by DaveinMtAiry View Post
I believe it's based on last year's tax filing. I also believe it is the collective income of the couple.
so if you were making lets say $200k as a family of 4 last year and the year before, and the year before that, and then both caretakers get laid off tomorrow, you get nothing...
dumbest. ****. ever.
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Old 03-25-2020, 09:09 AM
 
Location: SoCal
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Base on 2018 tax return.
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Old 03-25-2020, 09:16 AM
 
951 posts, read 320,097 times
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I hear it phases out at 150k for couples, and 200k couples get squat.

In other words, I get squat.
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Old 03-25-2020, 09:17 AM
 
3,548 posts, read 2,252,435 times
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Quote:
Originally Posted by flamadiddle View Post
Question on stimulus checks to individuals - if anyone knows. The cutoff is apparently $75K.

How will they measure that? current pay stub, last years tax filing?

How will they handle married couples making different amounts. Spouse A makes $150K, Spouse B makes $50K. Does a check get issue to spouse B in that scenario or do they consider married couples total household income of $200K?
As I understand it, it goes off of the adjusted taxable income.

In the case of the married couple, they would look at them as one. So in your example, if the two spouses had 200k of AGI, they wouldn’t get anything.
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Old 03-25-2020, 09:19 AM
Status: "Biding my time." (set 15 days ago)
 
Location: Warwick, RI
3,179 posts, read 4,307,416 times
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Quote:
so if you were making lets say $200k as a family of 4 last year and the year before, and the year before that, and then both caretakers get laid off tomorrow, you get nothing...
dumbest. ****. ever.
Well, at $200K per year for the last few years, it seems you fit the Federal Government modern definition of wealthy. Feels good, huh? However, you do need to look at your AGI, as I believe previous posters who brought that up are correct.

I suppose it depends on what part of the country you live in. If you live in say Florida, South Carolina or Alabama, that's a pretty high income level. California or New York, not so much.

And if you get laid off, you can always fall back on the "unemployment on steroids".
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Old 03-25-2020, 09:21 AM
 
Location: Charleston, SC
1,787 posts, read 1,008,285 times
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Quote:
Originally Posted by blahblahyoutoo View Post
so if you were making lets say $200k as a family of 4 last year and the year before, and the year before that, and then both caretakers get laid off tomorrow, you get nothing...
dumbest. ****. ever.

Or what TreasureKidd said.

Last edited by FiveLoaves; 03-25-2020 at 10:31 AM.. Reason: redundant post
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Old 03-25-2020, 09:26 AM
JRR
 
Location: Middle Tennessee
4,718 posts, read 2,742,024 times
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Quote:
Originally Posted by Frank Purlin View Post
I hear it phases out at 150k for couples, and 200k couples get squat.

In other words, I get squat.
You have my deepest sympathy for your situation.
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Old 03-25-2020, 09:29 AM
 
1,364 posts, read 343,482 times
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Quote:
Originally Posted by FiveLoaves View Post
With respect, if your AGI was $200K for the last few years, you should have an Emergency Fund to cover 6 months of expenses. You shouldn't turn salty about missing out on a $2400 gubmint check.

That's where the increased Unemployment check in the Stumulus package comes in.
i do because as a responsible person, i'm bailing out the irresponsible.
$200k sounds like a lot, but it doesn't go very far in NYC btw. i'm arguing on the principle of it.

my tax bracket gets squeezed the most because while it appears we make a lot, we also contribute more than most, relative to our disposable income.
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