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  1. #1
    Join Date
    Oct 1971
    Posts
    5,141

    Default Coronavirus Stimulus Checks

    Looks like were going to see some extra money in the near future, the problem is everything's closed so we cant spend it.
    What puzzles me is, just months ago Trump wanted to cut Food Stamps, Social Security, Medicare and other social programs claiming the country is broke - we now have more money than we need, what changed?

    Senate Approves Roughly $2 Trillion in Coronavirus Relief
    https://www.wsj.com/articles/trump-a...al-11585113371

    Who qualifies for stimulus checks?
    Individuals who make up to $75,000 per year and heads of household who earn up to $112,500 will receive a $1,200 rebate from the federal government, while couples who earn up to $150,000 annually will receive $2,400. For those who exceed those income levels, the benefits are gradually reduced at a rate of $5 for every $100 of additional income, and are eventually capped at $99,000 for individuals, $146,500 for heads of household, and $198,000 for couples. Additionally, parents are eligible for a $500 rebate per child.

    Will retirees and Social Security beneficiaries receive stimulus checks?
    Yes.
    The proposed bill includes language that allows Americans receiving Social Security—many of whom are retired and don’t file taxes—to obtain direct financial assistance through the coronavirus stimulus package. In such cases, the government would access their data through the Social Security Administration to determine their rebate.
    That said, not all older people who are already reliant on government assistance are immediately eligible for a rebate. According to Steve Wamhoff of the Institute on Taxation and Economic Policy (ITEP) think tank, the current bill excludes recipients of Supplemental Security Income (SSI), a federal welfare program granted to elderly and disabled people who are often living in poverty and, in many cases, aren’t required to file tax returns.

    When will the stimulus checks be sent out?
    This is where it gets tricky. Treasury Secretary Steven Mnuchin has said that he’d like to see Americans start receiving direct assistance in as little as two or three weeks after the stimulus package is signed into law—but that seems exceedingly optimistic.
    The quickest time frame in which the federal government has previously been able to issue stimulus checks has been six weeks.
    https://fortune.com/2020/03/25/stimu...t-payment-faq/

    Tony
    Moderator Responses are based on my personal bias, experience and research - They do not represent the views of the admin nor may be accepted in the legal community, always consult an attorney.

  2. #2
    Join Date
    Oct 1971
    Posts
    5,141

    Default Re: Coronavirus Stimulus Checks

    I see trump tried to sabotage payments to S.S recipients yesterday and failed, I swear this man is the devil.

    The Trump administration is adding an extra barrier for Social Security recipients to get their stimulus check
    President Trump approved a COVID-19 congressional spending package last week that would grant $1,200 individual checks to Americans making up to $75,000 each year; the benefits start to phase out after that threshold. But to access that check, Americans will have to file some kind of tax return even if they usually don't have to, IRS guidelines say.
    https://www.yahoo.com/news/trump-adm...182301523.html

    Social Security recipients who donít usually file tax returns will automatically get $1,200 payments, Treasury says in reversal
    April 1, 2020 at 8:17 p.m. EDT
    This story has been updated.
    The Treasury announced late Wednesday that Social Security beneficiaries who typically do not file a tax return will automatically get the $1,200 payment.
    The announcement is a reversal from earlier in the week when the Internal Revenue Service said everyone would need to file some sort of tax return in order to qualify for the payments. Democrats and some Republicans criticized the IRS for requiring so many extra hurdles for this vulnerable population to get aid when the government already has their information on file.
    https://www.washingtonpost.com/busin...cial-security/

    Tony
    Moderator Responses are based on my personal bias, experience and research - They do not represent the views of the admin nor may be accepted in the legal community, always consult an attorney.

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