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Wally Fairway

What would you do if the US Treasury sent you $1,000

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I'm poor and a minority so this is good.

Hookers and blow... obviously.

We expect you to buy some pussy like MiA is suggesting.

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Posted (edited)
5 hours ago, Hefeweizen said:

Yup.  Honestly it is good that it is means tested.  It isn’t “nothing” but it needs to be for the hardest hit.  The corporate bailout is pure horseshit and will he used for more buybacks indirectly.  

$400M earmarked to help make voting by mail easier.  

Edited by Treefidy
Got a little cloaky

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I won't be seeing anything from this.  But you know that individual who makes $75,001/year is cussing right now.

Especially if they made that last year and are currently unemployed due to the virus.

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Going to be a ton of idiots blowing their checks on Air Jordan's. Might be a a good time to invest in Nike...

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Especially if they made that last year and are currently unemployed due to the virus.

75,000 isn’t a hard cut off, the funds just stair step down gradually until 99k.

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Posted (edited)
15 hours ago, bluto said:


75,000 isn’t a hard cut off, the funds just stair step down gradually until 99k.

I saw $5 off per $100 in income until the $99K cutoff. I haven't done the maths but I think it works out. There's a similar phase out on student loan deductions that I've seen worked out in my taxes for years.

Edited by 'stache

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15 hours ago, CooterBrown said:


Especially if they made that last year and are currently unemployed due to the virus.

Incentive to not file tax return if you haven't yet, because they'd have to go off 2018 to determine if you're eligible. 

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Those who don’t have direct deposit, looking like May and into June or later.     House got a briefing on the timeline from the IRS/Treasury.  But if you are low income and don’t have direct deposit setup already, you will still be at the front of the line for paper checks  

https://www.cnn.com/2020/04/02/politics/stimulus-20-weeks-irs/index.html

Quote

Initially, the IRS will make about 60 million payments, likely in the week of April 13, for taxpayers who provided their direct deposit information through their 2018 or 2019 tax returns, the memo from the House Ways and Means Committee says.

Three weeks later, on the week of May 4, the IRS expects to start issuing paper checks to individuals whose bank information isn't already on file, a process that will take much longer.

According to the committee, the paper checks will be issued at a rate of about 5 million per week, and that it could take up to 20 weeks to issue all the checks. Individuals with the lowest income, based on adjusted gross income, will receive their checks first.

The Ways and Means Committee memo detailed its understanding of the timeline based on "extensive" conversations with Treasury and IRS officials. It said that the timelines are subject to change.

However, you’ll have a chance for setting up direct deposit later in April or May.

Quote

The IRS envisions having an online system in place by late April or early May to allow taxpayers to update their direct deposit information and to track the status of their payments, according to the memo.

 

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