I have not as my parents got my W2 mailed to them, and they were going to take care taxes again.
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I don't think that's right.
It's whatever your state says you would get normally plus $600 extra. So if your state said you would get $400 a week you would end up with $1000.
This is from CNBC
"The new legislation restricts the maximum duration of unemployment benefits to 39 weeks — or, almost 10 months.
So, under the new legislation, a typical worker could expect $985 a week for four months ($600 in extra relief plus state benefits), followed by up to 23 weeks of $385 a week in standard state benefits. Unemployment benefits are taxable."
"The new legislation restricts the maximum duration of unemployment benefits to 39 weeks — or, almost 10 months.
So, under the new legislation, a typical worker could expect $985 a week for four months ($600 in extra relief plus state benefits), followed by up to 23 weeks of $385 a week in standard state benefits. Unemployment benefits are taxable."
Starting the money printing machine means everyone's dollars are worth less. Getting 1200 when more were printed per person is a bad deal.
My girlfriend already applied for unemployment because her hours got cut and got $170 per week, can she apply again and get the $600 per ewek?
No it's being shoved into the system. So whatever you had before you get the $600 plus the extra weeks.
Probably. Last year though, it wouldn't have been the most dishonest thing since I was unemployed and living with them for 7 months.
If they claim you again, you would be ineligible for the check. I would check to see if they are going to claim you if they have not filed their taxes yet. If they are not going to, or have not, I would make sure to file your 2019 right away. For the check, they will be looking at your 2019 taxes first and then your 2018.
I took a paycut at work. I am salaried. Can anything in this bill help with the loss of income?
do I have to sign up somewhere for this, or are they just going to send it out automatically because I file my taxes every year?
Especially for people in shit states that limit UI to like $300 a week. In NJ I think it's like ~$600 something a week max.
Automatically. If you did direct deposit for your refund, it will come via direct deposit. Otherwise, it will come via check. No sign up required.
I live in NYC and the max is 504.00? I only see 140.00 a week though.
sweeeeet, this money will actually help quite a bit. Also, I file a 1099 as someone self-employed who gets by with contract work. Without hyperbole, I've recently landed a contract that I can't close on because the people who are signing my contract are hunkered down, so I can't get paid yet. I read they were thinking of expanding unemployment to "freelancers," would I qualify for that?
Part time in an Arena. It would fluctuate but no more than like 800.00 a month when there's a lot of events.
Any idea when checks would start flowing? Sorry getting lost with all the faqs and details...
By the sounds of it, self-employed people will be eligible for the unemployment benefit. How they will determine that, I am not so sure on.
What if your state says you get nothing, you would still get the federal money right? States have income minimums usually.
Yeah. So me getting this I'll be able to pay my Bill's and save up for future emergencies.
My government office email ends with gov.com haha
I'm sure tons of people think we are scamming them, luckily I don't have to do too much with email.
This is all pretty good news. Sounds kinda short term but I'll take it. I otherwise normally get by fine, but the virus is disrupting my life.
I think you have to qualify for employment. If your in the system you get the benefit of the government expanding it, but you need to get in.
Edit: also the rules have been changed for who can get it, so maybe reapply if you meet the new requirement.
I bet that can be confusing for some haha. Though I'm pretty sure federal correspondences will have a .gov.
Going by what the treasury secretary said, three weeks.
It's mildly frustrating that you have to wait until the end of the year to get a credit if your income was too high last year. I had a good 2019 since I switched jobs, got a signing bonus and my vacation paid out at my old place, but my AGI will be lower this year, and it was lower in 2018 too.
I don't really want the money for me, but I could give it away now to someone/something that needs it more.
I don't really want the money for me, but I could give it away now to someone/something that needs it more.
Yeah the way it sounds is anyone who is out of work due to this qualifies so idk, they will have to get a page set up I guess. Or update existing pages.
Did you claim your child on your 2019 tax returns (by 2019, I mean the ones you filed in 2020)? If so, they will be looking at 2019 tax returns first to determine the amount you receive so you should get something for them as well.
Yes. That's what I meant. We did claim him for 2019. Ok that's good to know. Thanks
So if you haven't filed taxes for this year yet (and don't have a 2018 return) what is the process here?
File taxes for this year and it will be automatic?
File taxes for this year and it will be automatic?
What money?
Unemployment is generally taxable.
This advance refundable credit is not.
Yes, file taxes. They will base your check on your latest return (2019 first, and then 2018) and they will send it via direct deposit if they have your banking information on file.
It's an advance of a refundable credit for 2020, so no. It is not taxable.
So this is just an advance? Am I going to have $1200 reduced from my refund next year?
more to the point, as someone who almost always has to pay taxes because I file a 1099, is this going to make it so I owe more next year?