Subsidy is not the same so no I don’t agree they should be treated the same. Your stimulus payment is not going to be taxed at the federal level.
What Will You Spend Your $1,000 Stimulus On?
- Thread starter Remo Gaggi
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Subsidy is not the same so no I don’t agree they should be treated the same. Your stimulus payment is not going to be taxed at the federal level.
As single, yes (it would have as single in 2018 too). Was MFJ on 2018 return and would have been under the joint limit.
As clarification, I don't need the money and not complaining if I don't get it. If i did get it, it would just pay for toys I bought this weekend.
And that the entirety of the farming world exists largely on subsidy, as opposed to most of what's affected by corona that exists on its own merits.
And that most of that "hating handouts for farmers" meme started because farmers like to chastise others beneath them taking in assistance. It was their hypocrisy to begin with.
Iol what the hell. $2000 rent, $800 on loans, and $1000 in insurance/debt? I get it you live in NYC, but bruh.
Big pay increase for Mr and Mrs cyfan in 2019... Of course we already filed our taxes
Baby coming in July so this would have bought the stroller, car seat, carrier combo system
Baby coming in July so this would have bought the stroller, car seat, carrier combo system
$2000 won't get you a closet in NYC.
I lol at the people acting like this stimulus payment was supposed to solve their financial problems.. If you lost work that is what the beefed up unemployment is for... and if that isn’t enough it sounds like you already had an existing financial problem before this crisis came along....
Before my wife and I married and moved into together, I lived in Washington, DC with three roommates. My share of the rent/utilities was $900 per month.
It was not fancy... and I had very limited space all to myself... but it worked.
I also paid off her $150,000+ in medical school loans.
CycloneErik
Well-Known Member
That's actually the point for people this would be meant to help. Wages aren't sufficient as it is, and employment is too temporary to count on.
So, yes, it's people with existing financial problems, and most often people who are working and doing the things they're "supposed" to do in order to get by.
Gonna have to do a whole lot of change in this country to make it work and make it last.
Starts on page 35. Essentially how I interpret it is this is a tax credit for your 2020 tax return in which they are just sending you a check for now. So it shouldn't be taxable on Federal or State (we will see though)
There will most likely be a question on the 2020 tax return in which you indicate if you received a check. If you received it then you won't get the tax credit at that time. If you were eligible but didn't receive a check then you would get it as a tax credit.
https://www.republicanleader.senate.gov/imo/media/doc/CARES Act Final - Mar 2020.pdf
Plenty of people get missed by unemployment given the increase in the number of contractors and the gig economy in general. Plenty more seeing drastically reduced income while still technically employed that also won't be helped by unemployment.
$2000 rent in DSM is... a big place.
The Unemployment portion of the bill is supposed to help distressed people. The individual stimulus is supposed to put cash in peoples pocket so the go out and blow it in order to stimulate the economy.
CycloneErik
Well-Known Member
Oh, I'm aware of that.
But there are some assumptions and scenarios that will come up there in the best of times, like what will count for unemployment, how much will it be for a person/family that's already economically distressed, do you collect if one job that doesn't pay enough lays you off but another doesn't, and so on.
It's not that straightforward at the bottom of the food chain.
Yeah, if you're paying $2000 in rent in the DSM metro and you are financially struggling then I know the first step towards solving your problem.
