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Trump seeking $850B in emergency stimulus ($500B in payroll tax cut, $250B for small business loans, $58B for airlines) UP: Possibly sending checks
- Thread starter GK86
- Start date
Multi-trillion dollar bill going into day 6, what are the waiting for?
I worked for tips for 8 years and I always did. But I'm a goody two shoes rule follower.
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They'll look at your 2018 or 2019 taxes for the advanced payment
They'll look at your 2018 or 2019 taxes for the advanced payment
They have to see how much they can get for themselves before they pass it off onto the common folk.
The year a child turns 17 you cant claim child tax credit.
to.my understanding
It'll be based on on 2018 or 2019 initially, so you should get the $500. Although it might get rolled back next year.
I feel responsibility to pay my share for the common glides is that a narc?
Thats fuxking bullshit....This keeps getting worse for me...wow.
does 17 year old get 1200 than? lol
While I just filed my 2019 taxes, I feel really bad for my girlfriend who got paid under the table the last two years. She's out of work this and presumably next month and the government will be giving her nothing? Lovely. At least the House bill was going to be for everybody regardless of if you paid taxes or not.
my question is in 2020 my son doesnt qualify for child tax credit....I wonder if I will have to pay his 500 back..
I guess Ill see when i do taxes.
Yep same here. So I'm out here in the public dealing with crazy business and anxiety like never before. I'm all for helping the people who have no income first but man I feel like the retail workers just get forgotten again.
I dont mean to come off like an ass. Apologies. Dealing with a lot of shit lol
Same here with my wife. It sucks that she won't get nothing from UI, I hope at least she gets something from the married status on our taxes. It's also making a big hole in our finances for sure.
I will, I got a raise last summer that jumped me over the line. I'd rather them not send me anything then.
Well she kept all the money she would have paid in taxes, so she just claimed her money early.
I don't want to sound like a bad guy, but she pocketed money that she should have paid in taxes no??
They're taking the money off of your tax payment for 2020, so if your tax liability is less than the payment you still get to keep the whole thing.
Doesn't sound like it's changed much? Nancy needs to tell the Senate to fuck off and just pass her bill and drop it in their laps.
She makes barely enough to pay her share of the rent. Pretty sure she makes a little less than minimum wage so probably around the same take away as if she paid taxes on minimum wage.
You guilt us for this, yet there are probably countless Americans who are scraping by in a similar pay situation and will get crushed by the pandemic.
my wife will most likely lose 4500 this summer if there is no summer school. so Im losing money this year because of the virus.most likely. While still working full time
It's changed pretty significantly, but you guys are just focused on those checks.
So if you're not poor your going to be paying this back next year? Am I understanding that right?
Basing it off of previous returns is a huge difference and will cut down the field immensely. I doubt they'll budge.
Yes from 75,001 to 99,000 you pay back .05 for every dollar. Full payback at 99,000.
Student loan forgiveness would be a huge boon to the economy as a whole. But when have they ever given a fuck about students? The interest rates are massively higher then mortgages, unforgivable via bankruptcy, and bare minimum tax benefits. I don't expect that to change anytime soon. It was probably put on the bills because of how political it's been with most the Dems knowing it had a snowballs chance in hell.
Re: Student Loans
The forgiveness never had a chance to pass however Biden did come out and announce support for the 10k forgiveness proposal. So that's one more reason to vote this orange turd out office in November.
The forgiveness never had a chance to pass however Biden did come out and announce support for the 10k forgiveness proposal. So that's one more reason to vote this orange turd out office in November.
This is true and even more true in my country (Puerto Rico). I know a LOT of people that still make $5/hr with no benefits and have 1-2 kids to take care of. It's a shitty situation but people need to have money to eat, pay the rent etc.
Aside from at least doubling the cost (based on the rumors floating), what changed? Getting unemployment reimbursement up 100% value? That's great, but is it worth $4 or $6 Trillion? $8,000 per Trillion/household in the US. So a cost of $32 - $42,000 per household? And unemployment insurance would have already covered some of that.
That is a pipe dream that they can easily concede to get something passed. UI is also a dream. Trump and the republicans would let everyone starve before passing that.
:( it's certainly not ideal, and it's easy for society to just gloss over the situations of those less fortunate.... like we're about to see in this bill.
It's only $2 trillion. I don't know where the $6 trillion figure came from, maybe counting the additional loans from the fed? (Which don't really cost us money in a traditional sense.)
Didn't know that's. Aren't dependents 19 or 24 if they go to college? Maybe that's factored?
Or at minimum since previous posters kid turns 17 mid year its pro rated? I mean who am I kidding whatever lowers the payment will be the rule.
I guess we'll see. As long as the money for people is greater than the money for corps, I'll call it a win. And yes, the bigger stimulus checks under the Dem plan were nice since it's taking so long, and this situation is adding weird new expenses like trying to fix up some space for working out and home office, and ordering take-out from more expensive local restaurants that we want to support and be sure they are still around when this is over.
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First thing I noticed this week is Grocery Store ads in my area have almost nothing on sale. So anyone going shopping is paying double to triple the prices they are usually spending on the same items that almost always are on "Sale"
Your tax liability is the amount you owe each year, right? Line 23 on a 1040? So if its $0 because of EIC and CTCs you don't have to worry about anything, it's just free cash?
She's in a bind, people need help and some sense of financial security now and the only way to fast track that this week is through the senate bill. If she plays hardball we're looking at 2+ more weeks before anything gets signed and no guarantee the senate wont just play hardball as well when negotiations begin all over again. So it's either take the guaranteed 4 months of expanded unemployment benefits the senate is offering now or roll the dice and see if a better deal can be reached as the headlines of people unable to pay their bills begin to roll.
After this bill is signed, theres also nothing stopping the house from starting work on the 4th COVID bill incorporating a lot of the work they've already done on their version of the 3rd bill that's missing in the senate bill. They just might not have the same amount of leverage if most of the corporate bailouts are in the 3rd bill.