US Gov stimulus package - who will it apply to?
#16
Lost in BE Cyberspace
Joined: Jan 2006
Location: San Francisco
Posts: 12,852
Re: US Gov stimulus package - who will it apply to?
Realistically, the only way they could distribute money immediately is through tax records. So if you filed for the 2018 or 2019 tax year I presume you'd be eligible (depending on income level being below whatever threshold they choose). If you didn't file, I suspect you'll be out of luck. I think that was the case the last time they did this, although that was effectively a tax rebate, not a cash payment.
Last edited by Giantaxe; Mar 19th 2020 at 5:37 pm.
#17
DE-UK-NZ-IE-US... the TYP
Joined: Mar 2010
Posts: 2,848
Re: US Gov stimulus package - who will it apply to?
#18
Lost in BE Cyberspace
Joined: Jan 2006
Location: San Francisco
Posts: 12,852
Re: US Gov stimulus package - who will it apply to?
#19
Re: US Gov stimulus package - who will it apply to?
I don't see how it can apply to the entire country, a grand around here could cover you for one or two months rent but in New York etc it's nothing
#20
Re: US Gov stimulus package - who will it apply to?
This is nothing but a political move anyway, the bill that will be agreed will be nothing like this. McConnell, while I loathe him, is a brilliant politician, because now he has a stick to beat the Dems with. They had no input in this, it's considered a starter document, so now if they come out against provisions of it, the Rs can sit back and say 'we wanted to give you money, but the 'do nothing Democrats' don't want to help you'
Schumer and Pulosi are pretty stuck.
Schumer and Pulosi are pretty stuck.
#21
BE Enthusiast
Joined: Mar 2017
Location: Austin, TX
Posts: 455
Re: US Gov stimulus package - who will it apply to?
Going forward I have decided to self-identify as an airline, as that seems to be the best way to get unlimited financial support from Uncle Sam.
#22
Forum Regular
Joined: Apr 2019
Posts: 46
Re: US Gov stimulus package - who will it apply to?
This. Especially the part where your payment gets cut in half if you have "little or no income tax liablity" or you get nothing at all if your income is under $2500? I can't see the Dems in the House going for that. Those are the people who need that money the most!
#23
Re: US Gov stimulus package - who will it apply to?
I think the theory of those on very low incomes are usually already receiving subsides in the form of Disability or Social Security or even Unemployment. I don't agree with it, but I think that's the theory.
#24
Re: US Gov stimulus package - who will it apply to?
I imagine the ideal is just giving money to those who are having their income impacted by this but you can already hear the complaints about bailing people out who should have savings so giving it to most taxpayers will reduce that. Leaving out people on benefits is logical but risky considering that although they're not taxpayers they are voters. Still most of the people I know on benefits voted for Trump so people wouldn't be given money for nothing so could they really complain if they're left out?
#25
Account Closed
Joined: Jan 2006
Posts: 0
Re: US Gov stimulus package - who will it apply to?
Seems to be the working theory in Canada as well. Many on disability though here in BC work part-time to supplement their disability and now not working, and without their supplemental income can't pay rent, but so far no level of government has mentioned assisting people in that category nor the homeless who have nowhere to go during the day now that everything has closed, limiting public bathroom options which seems to have led to an increase of human feces being seen on the sidewalks.
#27
Re: US Gov stimulus package - who will it apply to?
Presumably the fact that it has been tagged as a rebate means, in it's current proposed form, that this would neither count as income this year nor be followed some time later by a 'you owe the IRS 1200 bucks' extortion letter?
#28
Re: US Gov stimulus package - who will it apply to?
There is always a catch, like paying tax on the previous years income tax refund!
#30
BE Forum Addict
Joined: Aug 2013
Location: Eee Bah Gum
Posts: 4,099
Re: US Gov stimulus package - who will it apply to?
It happens if you itemize deductions and claim more State income tax paid than you actually paid then the State income tax refunded is rightly subject to tax.