POLL; Corona Virus & Your Job

How's it looking from your viewpoint?

  • Working/Business as Usual

    Votes: 60 38.7%
  • Working/ But slowing down

    Votes: 37 23.9%
  • Working/But it doesn't look good

    Votes: 15 9.7%
  • We're Done/Turn out the Lights

    Votes: 7 4.5%
  • Self Employed/Retired

    Votes: 36 23.2%

  • Total voters
    155

snobuilder

Well-known member
Just found this from CNN;

(CNN) - If you're a single U.S. resident and your adjusted gross income is $75,000 or less, you will get a $1,200 check from the U.S. government.

Americans are expected to receive direct payments as part of a $2 trillion coronavirus outbreak stimulus package that passed the Senate on Wednesday.
The more you earn, the less you will get. You get nothing if you make $99,000 a year or more.

The bill still must go through the House - a vote to pass it is expected Friday - and be signed into law by the president.

The income levels are based on tax returns for 2019. For those who have not yet filed their taxes this year, it will be based on 2018 returns.

For married couples, you will receive $2,400 if you make a combined $150,000 or less. People making above that will receive a lesser amount on a sliding scale up to people who make $198,000 or more, who will not receive money.

Parents with children who are 16 years old and younger will receive $500 per child. That also phases out for people with higher incomes - single parents who make $109,000 or more and couples making $208,000 or more will get nothing.

If you are on unemployment assistance, you will get another $600 per week on top of the amount your state already pays. That extra amount is available for up to four months.

That kinda sucks for me. Guess I will be penalized for filing early and making sure the feds got their share of a home sale....That gain puts us over the limit if 2019 will be used.

I guess I wasn't meant to receive gubmint welfare.
 
Really the stimulus checks are going to be based on 2020 adjusted gross income. Since 2020 income is not available right now the IRS is going to use either 2018 or 2019 with 2019 being first choice. If your 2020 income is under the limit you will get the money, but you will have to wait until 2021. In the mean time have another kid so you can qualify for another $500.
https://www.wsj.com/articles/everything-you-need-to-know-about-the-payments-from-the-government-11585229988

https://www.washingtonpost.com/graphics/business/coronavirus-stimulus-check-calculator/
 
Last edited:

slimcake

Well-known member
I am not going to file my 2019 taxes until July. Gotta pay in again... The DINKs lifestyle is not so good at tax time....
 

ddhanna

Active member
Really the stimulus checks are going to be based on 2020 adjusted gross income. Since 2020 income is not available right now the IRS is going to use either 2018 or 2019 with 2019 being first choice. If your 2020 income is under the limit you will get the money, but you will have to wait until 2020. In the mean time have another kid so you can qualify for another $500.
https://www.wsj.com/articles/everything-you-need-to-know-about-the-payments-from-the-government-11585229988

https://www.washingtonpost.com/graphics/business/coronavirus-stimulus-check-calculator/
I think you are off by a year. Checks are based on 2019 AGI if you have already filed. Otherwise they will look back to 2018. Your 2020 AGI will be unknown until 12/31/2020.
 
I think you are off by a year. Checks are based on 2019 AGI if you have already filed. Otherwise they will look back to 2018. Your 2020 AGI will be unknown until 12/31/2020.

Did you read the links I provided in my post? The true-up is based on 2020 income. Since 2020 income is unknown at this time they will use 2019 AGI.

The advance payments will be determined based on 2019 income—or 2018 income if that is all that is available to IRS—and the final amount of the benefits will be determined based on 2020 income and settled on the 2020 tax return. So people who ultimately qualify for more money than they receive this year—a person whose income drops from $100,000 to $70,000, for example—would get the rest through a larger tax refund or smaller tax payment in early 2021.

But people who ultimately qualify for less money than they got this year—a person whose income rises from $70,000 to $100,000—wouldn’t have to pay it back.
 

snobuilder

Well-known member
Sounds like my 1 year spike in income...2019, already filed....right before the new deadlines... will still keep the stimulus check outta my hands, yet me, my kids and their kids will be saddled with this debt til judgement day.
 

Pmknman

Member
Some great info here.. thanks guys... the down side is it looks like I am once again screwed no unemployment as I am self employed and no stimulus as I have worked to hard to make a nice life for my family and I however with that said I am glad they are going to help the masses.... I just hope I can get back to work sooner than later.
 

slimcake

Well-known member
Yep 6 Trillion divided by 350 million citizens. $17,000 each. Wheres my $17,000??? Im not gonna get anything out of this "stimulus" deal and neither will my customers. $10 milk prices and live cattle under a buck. Yup thats what I call stimulus!!
 

euphoric1

Well-known member
Before I make a statement I want to make it clear that I am not trying to minimize the fatalities that are occurring. So far we are a FAR... FAR... FAR cry from what the Influenza kills on average globally each and every year and lets say and hopefully we do stay far from that number, next year how about we post maps with confirmed flu cases in each county, do you think the map would look much different than it does now? and lets say and hopefully we do fall way short of the number of fatalities on average from influenza, I'm sure the criers will be up on their podium saying " see it worked!!" do we again shutter the world and destroy the economy to reduce the number of fatalities, even if we could reduce the number globally by 100,000 fatalities, and so far we are even far short of that number, should we do this again and if we don't why don't we.
 

gary_in_neenah

Super Moderator
Staff member
No answers here, just a few observations. It's been more than a hundred years since the influenza of 1918. We beat it then and we'll beat this thing now. We have more technology and some of the smartest people on the planet working the problem. It's going to take time and we're an impatient bunch.

2.2 Trillion= A stack of 100 dollar bills laid on it's side for more than 500 miles. And to think that some of us won't see a dime. That's a shame.

The Family Fur babies must be lovin having the folks home all day. I don't recall seeing this many people walking their dogs all hours of the day. That's a win-win for exercise and mental health.

Local price of gasoline this morning $1.48 a gallon. Like many others, I have no place to go and all day to get there.

The forecast for next week is for sunshine and 50+ degrees. Time to get the Spyder out for some Wind Therapy! Just what the Doctor ordered.
 

xcr440

Well-known member
No answers here, just a few observations. It's been more than a hundred years since the influenza of 1918. We beat it then and we'll beat this thing now. We have more technology and some of the smartest people on the planet working the problem. It's going to take time and we're an impatient bunch.

2.2 Trillion= A stack of 100 dollar bills laid on it's side for more than 500 miles. And to think that some of us won't see a dime. That's a shame.

The Family Fur babies must be lovin having the folks home all day. I don't recall seeing this many people walking their dogs all hours of the day. That's a win-win for exercise and mental health.

Local price of gasoline this morning $1.48 a gallon. Like many others, I have no place to go and all day to get there.

The forecast for next week is for sunshine and 50+ degrees. Time to get the Spyder out for some Wind Therapy! Just what the Doctor ordered.

Gas prices are ALL OVER the place - $1.09 yesterday, $1.74 today!!
 

bearrassler

Well-known member
I started a new career last July at the age of 63 in manufacturing. We make wind turbine blades and so far we are open as usual. As of last night MN is on stay at home status so I will find out if a lot of my coworkers stay home on Tuesday morning that live on the east side of the river
 

sweeperguy

Active member
I started a new career last July at the age of 63 in manufacturing. We make wind turbine blades and so far we are open as usual. As of last night MN is on stay at home status so I will find out if a lot of my coworkers stay home on Tuesday morning that live on the east side of the river

Wouldn't it kinda work like a necessary job in MN. if your work is open, you can go to work? I'd think you could leave your house in MN to go to your job in ND. As long as your place of employment is up and running you can go to work.
I know I'd leave to go to work, chances are slim to none you'd even get pulled over and asked where your going.
Not like its a quarantine where there should be no one outdoors for any reason.
I'm thinking if someone doesn't show up for work its cuz they don't want to go. Not cuz they can't.
 
Last edited:

xcr440

Well-known member
I started a new career last July at the age of 63 in manufacturing. We make wind turbine blades and so far we are open as usual. As of last night MN is on stay at home status so I will find out if a lot of my coworkers stay home on Tuesday morning that live on the east side of the river

People can still cross borders, they just don’t want you to if you don’t have to. Work? Yeah, hopefully your guys show up Monday!
 

bearrassler

Well-known member
I'm thinking if someone doesn't show up for work its cuz they don't want to go. Not cuz they can't.

There are some that will look for any reason to stay away from work but I think that most of us will show up. When we have a no travel advisory we don't have to show up but don't get paid and most of the employees love those days and wish they happened all the time. It's like money means nothing to them.
 
That kinda sucks for me. Guess I will be penalized for filing early and making sure the feds got their share of a home sale....That gain puts us over the limit if 2019 will be used.

I guess I wasn't meant to receive gubmint welfare.

Sounds like my 1 year spike in income...2019, already filed....right before the new deadlines... will still keep the stimulus check outta my hands, yet me, my kids and their kids will be saddled with this debt til judgement day.

What are you pissing and moaning about. If you had a spike in income in 2019, then you can still qualify because the refund amount is based on 2020 income. You are just going to have to wait until 2021 to get it.

By the way, the gain on most principal home sales are exempt from taxes unless you had a gain of over $500,000 on the sale if filing a joint tax return. If you made a half million profit on this sale you surely don't need any stimulus refund. Any if you are rich enough to afford a second home you surely don't need any refund.
 
Last edited:

sweeperguy

Active member
What are you pissing and moaning about. If you had a spike in income in 2019, then you can still qualify because the refund amount is based on 2020 income. You are just going to have to wait until 2021 to get it.

By the way, the gain on most principal home sales are exempt from taxes unless you had a gain of over $500,000 on the sale if filing a joint tax return. If you made a half million profit on this sale you surely don't need any stimulus refund. Any if you are rich enough to afford a second home you surely don't need any refund.

He never said he sold his principal residence.
So it may have been taxable income.
 
Last edited:

WorkHardPlayHrd

Active member
Yep 6 Trillion divided by 350 million citizens. $17,000 each. Wheres my $17,000??? Im not gonna get anything out of this "stimulus" deal and neither will my customers. $10 milk prices and live cattle under a buck. Yup thats what I call stimulus!!
Ya what's happening with the milk price bites. After two nights at a Lake Superior cabin I'm starting to seriously dislike farming.
 

snobuilder

Well-known member
What are you pissing and moaning about. If you had a spike in income in 2019, then you can still qualify because the refund amount is based on 2020 income. You are just going to have to wait until 2021 to get it.

By the way, the gain on most principal home sales are exempt from taxes unless you had a gain of over $500,000 on the sale if filing a joint tax return. If you made a half million profit on this sale you surely don't need any stimulus refund. Any if you are rich enough to afford a second home you surely don't need any refund.

This was a home we bought and repaired for one of my kids, but those plans changed so the house had to be sold....market was good but I'm not "rich" as you put it.

The way i read it is that because I filed already my 2019 return AGI will disqualify us for a part of the 2.2 TRILLION..... but if I hadn't filed my much lower and "normal" 2018 AGI would be used....Feel like I fell into a black hole just trying to get Uncle Sam his "due" on time.
Not pissing and moaning, just possibly not comprehending how this will all shake out, as you say in "2021". Hope you are correct.

I never had to take a dime of handouts all my life BUT seeing as how this debt will be around til the next millennium and I as a taxpayer will be expected to pay it back, I will be there in line next to the rest a you slobs....LOL.....AND....if I comprehend 2.2 TRILLION DOLLARS correctly.....you GD right I think I DESERVE as much as the next GUY....and PORK PROJECTS!
 
Last edited:
Top