Economic Impact Payments - What you need to know

Seems it's changed again
https://thehill.com/policy/finance/...ill-automatically-get-coronavirus-checks

The IRS was just trying to solidify their "growth business" position.

Looks like the Taxman still has their hand in this.

IRS officials tell House Democrats some $1,200 checks could take up to 20 weeks to get out

LOL. I told a neighbor who's chomping at the bit expecting his money this month (lol) that "If we get in July I'll feel lucky".

Always the optimist...

https://www.washingtonexaminer.com/...cks-could-take-up-to-20-weeks-to-get-out

Rgr that.

the IRS pages update now reflects the change, saying:

note; my highlites



and the economic impact payments page elaborates;

I don't understand why they are messing with paper checks for those on Social Security..most of us get our monthly money on a debit card..Could they just credit that card..Would lessen the chance of lost/stolen checks and probably be cheaper than printing all those millions of checks

Government doing what's most efficient... good one!!

I can dream..LOL

There are peeps who don't file income tax. Some have no income or don't make enough to meet filing requirements and some are just tax evaders. How will they get their money?

Site same as before just checked the page.

TV news is claiming april 9 will start sending some checks.



There are plenty of people that will need this. Including active military that are underpaid.

Unemployment Insurance

And so many restaurant people, etc. who mainly live from tips. Their salary is often so low they wont be able to survive off of unemployment. They are paid less in many states.

Also if you never filed unemployment you probably would not know that there are many laws differing from state to state. You would need to know the wages pay-in period that you will be qualifying for is calculated at least in California from previous quarters quite awhile in the past - used to be like six months or a year ago. I'm not sure recent law you would have to check the current rules.

Also whether you even qualify is calculated from those quarters average wages. You would have to have qualifying wages of a certain ratio to other quarters and enough quarters to even be eligible.

One could be working hard recently and if for some reason there was a gap (typical in many waiters, etc. careers they may have change jobs, move etc.) they would not qualify.
Also if your wages too low you won't qualify either.

So don't assume anyone that currently out of work people are automatically going to get Unemployment Insurance. It is exactly that; Insurance. It is insurance that is bought actually by the state leveraged by the people's wage paid in. Its not 'free money". It comes out of everyone's checks. Like insurance you have to pay the proper premiums.

Now I've it happen in the past I did not get Unemployment Insurance at times I needed it. Just missed the quarters or had not enough payments. Also the payments are not unlimited they get exhausted after some months.

So please don't assume everyone who needs this is just a scammer freeloading off the good US taxpayers.. etc.

The fact is a lot of poor families will need to scape together every dollar they can during this next year or more.

Heck even Donald Trump will have to... lol!

--
. Of the 10,000,000 (yes thats million) people that are out of work now, probably a good percentage wont get UI.
So they get maybe a one-time payment of $1,200. Big Deal. That's not going to fuel any economy.
We are all going to have to come up with better plans and leaders going forward...

https://www.washingtonpost.com/poli...4-751e-11ea-85cb-8670579b863d_story.html




Keep an eye on this site. It's where folks can go and enter their banking information or those who didn't have to file for 2018 and are not required to file for 2019 or if you have moved and not notified the IRS of your change of address to file a short form to get their money faster through direct deposit than waiting or a paper check.

https://www.irs.gov/coronavirus?mod=article_inline

The IRS "How to get your stimulus check" site is up:

Stimulate Me

Key INFO top of page:

Who will receive the Economic Impact Payment automatically without taking additional steps?
Most eligible U.S. taxpayers will automatically receive their Economic Impact Payments including:

Individuals who filed a federal income tax for 2018 or 2019
Individuals who receive Social Security retirement, disability (SSDI), or survivor benefits
Individuals who receive Railroad Retirement benefits

If you don't fit that then


LOL What could go wrong with that...Give some unknown third party your SSAN, Your address, your bank account number and your drivers license info.

Information You will Need to Provide

Full name, current mailing address and an email address
Date of birth and valid Social Security number
Bank account number, type and routing number, if you have one
Identity Protection Personal Identification Number (IP PIN) you received from the IRS earlier this year, if you have one
Driver’s license or state-issued ID, if you have one
For each qualifying child: name, Social Security number or Adoption Taxpayer Identification Number and their relationship to you or your spouse

Not a chance

I filed my income tax in early March and they have my banking info cos I had to pay. I assume they will use that same info to send me $1200.

"LOL What could go wrong with that...Give some unknown third party your SSAN, Your address, your bank account number and your drivers license info."

I don't even trust the IRS site or online service like Turbotax to file and I still do it the old way, by postal.

Direct deposit should appear for 80 millions Americans tomorrow. Those who are getting a paper check will see them beginning April 24th by income bracket beginning with those who make 0-10000, then 10000-20000 etc. A GET MY PAYMENT app and site will go on this week for people to enter their banking information and check the status of their check. https://www.irs.gov/coronavirus/economic-impact-payments

Just now got a notification from my bank that mine was deposited.

The IRS GET MY PAYMENT portal to check the status of the payment is up. https://www.irs.gov/coronavirus/economic-impact-payments I went there and enter the info it asks me for, name, ssn, address, date of birth. It tells me from the info it has on file for me it can't determine my eligibility. I have filed for 2018 and 2019. They have my banking info to take my money both times. My address hasn't changed. I don't earn more than the $75000 limit and I have no children. Calling the IRS is out of the question. I try to call them a month ago regarding a tax question that has nothing to do with the stimulus check and the automated system goes nowhere. Can't get a live person even when it tells you to press a number to get a live person. You are put on hold forever listening to the same automated message until it cuts you off about 40 minutes later.

Calling doesn't help. I just called them after using the portal and the automated message said due to reduced staffing caused by the Coronavirus, Live Help is not available. Please use the IRS GOV website to find answers to common questions.

From reading comments posted online under many news stories about the check, many folks are saying either they got their money direct deposit this morning or they haven't got it and when they went to check the status of their payment, they received similar message about their eligibility like the message I got and those folks are like me, eligible and have filed and the IRS have their banking info.

Got mine this morning. Have already filed my 2019 taxes (did it in Feb) and have filed online for at least 5-10 years.

I am not the only one getting the error message and I am eligible and I have filed online for 15 years and they have my banking info and address which hasn't changed in over 10 years.

https://twitter.com/hashtag/IRSDirectDeposit?src=hashtag_click&f=live

Takes a while to print digital money, I guess...

Maybe their system has a...










bug!

Once you’re on a fiat currency going digital makes no difference.

Same here.

I put mine in savings today to... pay my taxes.

Using taxes to pay taxes.

That is our plan to. But we are in a bit of sticky spot since we last filed taxes from MN. Moved out here in July. IRS still thinks we are in MN since we have not yet filed our taxes. Yes must pay again.
Looked all over the IRS website as to where to make this change and get led into circles of no help.

IRS Get My Payment still telling me and other who are eligible and have filed 2018 or 2019 or both and who have prior given the IRS banking information that the agency can't determine our eligibility and there is no way to call the IRS because they shut down their national live help phone number and you will only get an automated message to use the website. Also if you check your status again on Get My Payment, you may also get the message that you have already checked today and to not do it more than once in 24 hours. So at this time I and many others Americans do not know if it's the treasury department is overwhelmed trying to get this money out to everyone who is eligible and eventually we will get our $ or if we got lost in their system and we will never get our money or if we fell into the group that will get paper check in the postal mail beginning April 24th starting with the ones who make 0-10000 a year and on.

Note: Below is all quoted from the IRS page - I added the color comments and markup since cannot do tables with forum UBB code. - FsFOOT
























































Page Last Reviewed or Updated: 16-Apr-2020 "
..END QUOTES.

• IRS reference pages:
• https://www.irs.gov/coronavirus-tax-relief-and-economic-impact-payments
• https://www.irs.gov/newsroom/how-to-use-the-tools-on-irsgov-to-get-your-economic-impact-payment
• https://www.irs.gov/coronavirus/economic-impact-payments
• https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here
• https://www.irs.gov/coronavirus/get-my-payment

ps. Note the site is waaaayyyy busy!! and so its likely it won't show your info - this is a waiting line. the get my payment page refreshes only after awhile - then lets you in (be sure to enable javascript in browser).

meanwhile.. maintain internet distancing.. lol!

also note the caveat,

Saw on the news that people that used a tax refund advance at one of those tax prep (*not an accountant) places had their incentive sent to the tax prep place, since that's what was on record, as those people got an advance.
On top of that, the business was closed to to the virus going on. That's going to be fun situation to watch get untangled. Those tax prep places are very popular in small towns.

All those fsFOOT posted do not apply to my situation. I have filed for both 2018 and 2019, provided my banking account and routing number, they took money from it both times. They have my banking info to take money from me and according to the IRS site, that is also the same banking info they will use to direct deposit the stimulus money which I still haven't received. Like many other Americans, when I go to GET MY PAYMENT, https://sa.www4.irs.gov/irfof-wmsp/notice

I am getting one of several error messages that it can't determine my eligibility or that the information I entered doesn't match their record.

By the way, if you enter a fake name with a fake address, fake date of birth and fake social security number, you will still get one of those error messages.

The issue with the IRS GET MY PAYMENT site is being reported by the news but the IRS has not fixed it. People are still reporting problems with it on Twitter: https://twitter.com/hashtag/IRSDirectDeposit?src=hashtag_click&f=live

Some news report says to CALL the IRS but those reporters did not check their facts. If they did they will find out that when you call the IRS now, you will get a recording saying Live Help is not available due to staffing shortage caused by the Coronavirus.

Still no $ and the IRS portal https://sa.www4.irs.gov/irfof-wmsp/notice still giving error messages no matter what you enter even if you enter FAKE information, which many said they did just to see what it will do. https://twitter.com/hashtag/IRSDirectDeposit?src=hashtag_click&f=live

According to this article, 80 millions Americans that the IRS have banking info on received their $ last week and the remaining 60 millions will get their money in the postal mail in the form of a paper check beginning this week: https://www.fool.com/investing/2020/04/21/heres-precisely-when-youll-get-your-stimulus-check.aspx

Forgot to say above that a couple of news articles said that if you owe in 2018 and 2019 and paid via electronic transfer directly taken out your bank account, the IRS will not use that same account to send the stimulus $ to and you will get a paper check instead .

That makes no sense to me considering many news reports on posts on social media that the IRS sent money to closed accounts, accounts that do not belong to the person they were trying to send the money to and temporary accounts that were set up when people filed their income tax through H R Block or Turbotax to get a refund anticipation loan.

Since we had to pay in the past few years I guess we will be getting check forwarded from our old address.

So the first time I checked my payment status at 6 am when the IRS portal first went online last week on Wednesday 4/15 it told me it couldn't determine my eligibility. Then that same day I checked several more times and it told me it had no record of me. After that for 10 days from that Wednesday to Thursday day before yesterday it kept telling me no record of me and I already checked my once per each 24 hours period and the site is only updated once a day overnight so I should try again in 24 hours. Yesterday all day it gave me access denied you are not allowed to access his IRS website address on this server.



This morning about 5 hours ago, it was back to no record and I already checked my once per 24 hour period and again site is updated once overnight try again in 24 hours.

I decided to not wait 24 hours to try again and I just got this. They even got our bank account number correct. Iheard horror stories of the IRS direct deposit the money into closed accounts, non existing accounts or close accounts.



I will believe it when I see the money in my bank account and hopefully they will deposit the correct amount.

So this is evidence that the site is not only updated once a day overnight and you can check more than once per each 24 hours period.

It finally let me enter our info and update online banking info. Now the wait till its deposited

Mine says deposit inbound tomorrow.

First $120 is going for an anti-body test.

I checked it again yesterday and it changed from the screen above to deposit tomorrow.



We are saving it for food. This virus is not over. Things might turn bad before it ends.

I saw one of our neighbors bought a new TV. He has a gigantic empty box sitting in his patio sticking out over the fence.

I don't have a checking account so not sure if I should put down my savings account..I'll donate some to the Wounded Warriors project on top of my monthly donation and save the rest..I live alone so food isn't a big expense ,,Always like to have enough set aside if the computer dies..

Just read this: https://www.foxnews.com/politics/tr...lants-open-amid-fears-of-supply-shortage Everything else is still closed so can't spend it anywhere other than at a grocery stores or at a take out restaurant and we haven't gotten any take out food except for pizza delivery once. I also notice one of my other neighbors got doorbell cameras install on front door and side door. People who use that money to buy a TV or other luxuries are fools.

Yeah and they are the ones who will crying the loudest for another check..down the road

I submitted my tax return about 6 weeks ago. I was getting back a couple of hundred from both state and federal, got the state money in about a week. I had forgotten about the federal money and when I checked it is still pending, thus I have also not received a COVID19 check either.

Are you referring to the ones who are buying TVs and other luxury things? They want money to get more luxury things. I would love to have a new computer but we can't eat a computer or keep the water and gas and phone and electricity on or keep a roof over our heads with a computer.

Did you check here? https://sa.www4.irs.gov/irfof-wmsp/notice It's not same place you check for your refund.

Yeah just went there and it's going to be deposited,on the 30th,,,Never seen the last 4 numbers which is what they show..In fact I haven't had a checking account in over 20 years and I never E-filed..Guess I'll have to wait on the letter they are sending.The bank should reject it..At least I won't starve I've been living off my Social security for 9 years and manage to pay the bills.I live alone in a small town ,,don't even have a car..
To me a computer isn't really a luxury Not big on TV and you can only clean so much or read so much and now we aren't supposed to be out and about..The bills get paid every month and I eat fine

Was sleeping and phone woke me up with 2 text notification dings. Look at it and it's text from my bank saying deposit has been made by the Treasury department in the correct amount.

I got mine 2, almost 3 weeks ago via direct deposit. I file my own taxes electronically - and do NOT have a 3rd party tax agency do the preparation.

What a bunch of idiots. They forgot that there are millions of people like me who broke even and didn't pay or collect. So we have to wait until they fix the problem.

Here's a post I made April 3rd,,The other day I was informed on the IRS website that it was to be deposited to and account I never heard of...Well this morning i went to my SS debit card account to check the balance..And darned if they didn't do just what I though made sense.guess sometimes the government get it right..

I also heard for those on SS, on May 1st the IRS will send out checks or put into the same account you get your SS benefits from.

The government doesn't make mistake. This is not real. https://www.politico.com/news/2020/...timulus-checks-to-foreign-workers-228974

By the way, out of the $1200 I received, I spent $100 of it on groceries and $32 on a new pair of shorts and blue slacks. The rest is still in my bank account. I am not going to rush out and buy a new giant TV or video game machine or computer. That's just foolish.

I got mine a couple weeks ago, paid rent, car Insurance, phone, bought $100+ worth of groceries and I'm down to 20 bucks. Filed for Unemployment which I'm not counting on, the website is a train wreck at best and have been looking to see what else opens up for employment. I left my old job because of the close proximity to individuals who don't follow the least of the guidelines and cheap knockoff masks they provide so I probably won't get unemployment. I could go back to cooking because I can control my environment in a kitchen better than I could at the other for sure. I've been asking myself if I did the right thing it was a gut reaction.

Received a covid-19 check in the mail a couple of weeks ago, a check even though the IRS has my direct deposit info from my federal tax return (which is still pending after almost 3 months). And then just a couple of days ago I received a letter from Dept of Treasury telling me that my covid-19 check was on it's way. Government efficiency right there.

Heads up!:
Why millions of Americans are getting coronavirus stimulus payments on scammy-looking debit cards

Be careful about what snail mail you throw out.

I read about that yesterday. Can you blame them for cutting it up and throwing it out? The envelope doesn't even say IRS or anything. Looks like a credit card offer and if you didn't apply for a credit card and you get one in the mail, that's illegal and many times a scam to get your financial info.

Lemme guess, the bank gets to keep all the unclaimed money?

Doesn't matter for a huge financial institution "much", but they love the "float",

why the hell are you guys wasting money on a debit card : why not just wire it or make it avaiblable on some national bank acount and just give the key :

These are for the people that don`t have banks to deposit into. This how many live off grid. Everyone else already has it.

The ones who don't have bank accounts info on file with the IRS get a debit card loaded with money. That usually means they don't file income tax due to either they don't earn enough to owe or they do owe but they don't file. Folks do owe but have gotten away with not filing and haven't been caught by the IRS, they shouldn't get any money.

I knew a guy about 10 years ago who hadn't file income tax for 7 years and yet he owned at least 6 businesses that I knew of and he had a ton of cash on him at all time, lived in a big house and drove fancy cars. People like that needs to be caught.

I don’t have my bank account linked to my IRS filing. I received a paper Treasury check for the Economic Impact.

I have a bank account, the IRS has my deposit info. They sent me a paper check anyway. Then 2 weeks later they sent me a letter to tell me my check was on its way.

I don't want a government this disorganized running my health insurance that's for sure.

how is that even possible , here in brazil you dont even need to file irs to bank acount, they KNOW from your national ID how much you make ,legally obviously, if al you do is cash you are off grid, but no company will pay workers off grid or sell a product without some receipt because then they are the ones busted.
what i meant was, here generaly governament help goes to a acount on your name (actually national ID), you just create it with no fees at all, and get your money. so i dont understand why you need to get to waste more money on debit cards, that has fees on its transactions. i mean if these people are living off the grid, they certainly are not going to apply for credit now.

Some politically side-tracked posts moved to PWEC. Stay away from the politics, folks.

Just to update, I was thinking I couldn't get unemployment but I did. A week after filing I started getting checks deposited, all different amounts. Some were $178, some were $600. I had one for $860 and the latest was an eye watering $2160. I'm not sure when there will be a job out there for me, I'm 60 and starting to have sixty year olds issues. I can see why it's hard to get people to come back to work I've got over 3 grand in the bank and that sad to say has never happened outside of an insurance settlement. For me to find a job may be a lot more difficult than for a younger person and I'm sure this won't last forever and may come back to bite me come tax season next year. I'm not buying any lux items, maybe a bit more take out but that's gotta stop, I'm getting too fat to put on my socks.

The 178 is the state. The 600 is the extra tacked on by the Federal government due to the coronavirus and that lasts until end of July. The 2160 is total benefits state and federal retroactive to when the National Emergency was declared back in Mid March. Save that $ especially the 600 part cos there may not be more after July unless they pass another stimulus package.

I know the break down that's just the way they give it out, I'm just sitting on it for now have no idea what may happen down the road.

I prefer they don't pass anything than to pass it by giving in to that *itch Pelosi. Community Hall is not the place for politics. Much of your post doesn’t belong here. In the future keep it out of Community Hall.

Pelosi got the Republicans to go up to 1.9 trillion now. Remember when the Republicans and President Trump wouldn't go past 1.2 trillion? She is not going to stop until she gets the Republican and President Trump to agree to her full 2.2 trillion and most of it is handouts for Democrats. Out of all those trillions, you add up how much the $1200 checks are, that's only $300 million? Most of the rest is going to corporations and not to the millions of Americans who are hurting from unemployment, underemployment caused by the Virus.

LIKE the AIRLINES. Didn't they get $50 billion in March or April? The money was supposed to help them operate and in return, they DO NOT FURLOUGH or LAY OFF any employees: pilots, flight attendants, gates attendants, aircraft maintenance, ground crew.

Those airlines got the billions and they still laid off, furlough employees or force many into early retirement. NOW they are saying they are BROKE again and can't operate past a certain date in the future and they need MORE BILLIONS.

WALL STREET also got money back in March, April or wherever that was, the same time they were passing the other stimulus program. How much did WALL STREET get? 1 Trillion? 1.5 Trillion? Give that money to the Americans who are hurting.

Look at those loans to help small businesses, Most of it went to large corporation and publicly traded corporations who don't need it. The banks processing the loans like Chase and Bank of America and Wells Fargo played favorite. They process the loan applications for the corporation first and put the loan applications for small business owners on the side. Why? Because they get a % of every loan they approve: they make more money by passing a multi million dollar loan for a corporation than passing a loan for a small business owner who is only asking $10,000, $20,000 or $100,000.

I got a friend who is a small business owner and he got one of those loans. He only needed $15000. The bank gave him a very difficult time. Kept asking for one thing after another trying to get him to quit if they flood him with document requests. He didn't quit, he did what they ask him to do and they finally had to approve him

https://www.washingtonpost.com/us-policy/2020/10/22/trump-congress-coronavirus-bailout/

So here they play this game so we can get $1200. I can do without that money! For many it does not even cover one month rent. I remember when they paid out the previous $1200. Who was it that said it? The treasury secretary? I think it was him. He said that $1200 will keep American families going for 3 months. How out of touch are they? We don't eat $400 martini lunches every day paid by the tax payers and ride on private jets and limosines also paid by the tax payers.

HAVE YOU NOTICE everyone that goes to Washington and becomes a politician, if they were poor or just middle class when they first get to Washington, by the time they leave they are all millionaires. They don't get millions in salary.

Why is that?

$600 for most everyone. Late Christmas shopping! https://www.cnn.com/2020/12/20/politics/stimulus-latest-shutdown-deadline/index.html

Why do people get so excited about getting what is essentially a loan from the Feds?

Since they don't have to pay it back directly, they think it doesn't ever needs to be paid back.

Exactly. Human psychology is a fascinating thing.

You likely wont see it for at least 2 weeks, I tried to show on my Unemployment bi-weekly login that I had made a little money trying to deliver food, boy was that a mistake. Two and a half hours on the phone with them because it would not allow me to input any amount of money, instead sending me through an endless loop of trying to put the same info down over and over. Trying to verify what is essentially a phone app for which payment details are hard to verify for one afternoon of burning up my gas to deliver sandwiches and I'm still in limbo because I have to wait on their IT department to fix it. The whole system is flawed on purpose and designed to be frustrating.

... and creates jobs.

It's not really a loan, more like your own paid fed income tax back to you.

More money for stocks.

Trump is threatening to veto, 600 not enough. 2000 has now been requested.

With the national debt so large, I think any income tax paid has long since been returned and any money taken now is from the income taxes yet to be paid by future generations.

That would be accurate if the Fed government wasn't currently borrowing and printing money like there was no tomorrow.

That's ok, they're gonna "make the rich pay their fair share" to make up the difference.

Got bank DM at 2 am. Direct deposit of $600 IRS TREAS credited to account #

Same here. I wasn't expecting it quite this soon.