Americans, Have You Received Your Virus Stimulus Check From Trump Yet?

[fredwiggy]

I see that the american government is saying they might issue a check to americans to help with this crisis.It says retired also. Since we in Thailand,retired, are also up against this crisis, what's the thoughts regarding us receiving a check also,through our SS payments?

[bkk6060]

Do you still have a US address and are paying taxes?  If so, yes if you qualify within the income limits.

As far as thru SS, I doubt it probably a seperate check.

Edited March 22, 2020 by bkk6060

[spiekerjozef]

15 minutes ago, fredwiggy said:

SS payments?

No comment...

[CrunchWrapSupreme]

I've been following this closely. I could really use the cash. I'm a teacher and was supposed to have work over the holiday, but summer school was canceled.

 

It's going to a vote tomorrow. Last I heard, the first payments of up to either $1000 or $1200 could go out April 6. There might be a second payment in May, depending on how things go. It's mostly tied to your 2018 taxes. Good thing I did them, and declared my foreign income here.

 

Looks like they're trying to squeeze in Social Security recipients as well: https://www.cnbc.com/2020/03/20/coronavirus-rescue-checks-may-shortchange-americans-on-social-security.html

 

Keep an eye on the news tomorrow. Hang in there man.

[Curt1591]

We'll have to wait and see. Medicare is useless here.

[TallGuyJohninBKK]

There also was reporting in the past few days (dunno if things have changed since then) about the plan involving no money going to people who haven't filed federal tax returns because of being under the tax filing income threshold, and then whatever payment is settled upon being phased out for higher income earners, something like a lesser amount for $75K and above and nothing for $99K and above annual income. But the last I read on that was a couple days ago.

 

[sirineou]

I filed jointly with my wife, and between the two of us we are above the 

 $75 k 1018 income . It that income requirement  per person or per household?  

[fredwiggy]

Retired,living in Thailand,haven't paid taxes since last year living in USA,2018

[ChouDoufu]

and is that for expats filing taxes with an overseas address?

 

how's that $1000 gonna stimulate the american economy if we spend it in thailand?

 

assume it will go to anyone who files a tax return, regardless of whether they pay tax.  i've filed every year since '05 from overseas (thailand and china), but never had to pay income tax.

Edited March 22, 2020 by ChouDoufu

[fredwiggy]

As a very general rule of thumb, if your only income is from Social Security benefits, they won't be taxable, and you don't need to file a return. But if you have income from other sources as well, there may be taxes on the total amount. Supposedly ,most should get it,even the unemployed and retired,who don't file taxes. I guess time will tell. Everyone's affected by this disease,including US citizens living here.

Edited March 22, 2020 by fredwiggy
Addition

[sirineou]

I understand there need to be some income requirements so that those who don't need it get it. but how about some regional adjustments,

Making  75K  might be a lot of money in Kansas but it is not in NYC.

 

 

[timendres]

I think this approach is a mistake. The Fed should be sending money to the States to increase and extend unemployment insurance. At this point in the game, we need to help the people losing their jobs to not lose their homes. Down the road is the time to start with stimulus packages. Trying to stimulate the economy right now is like pushing on a string.

[Pib]

1 hour ago, ChouDoufu said:

how's that $1000 gonna stimulate the american economy if we spend it in thailand?

Stimulating the US economy is only one reason.  Other reasons exist such as to provide additional money regardless of where you live since corona virus is pretty much impacting US citizens regardless of where they live in the world....and it's election year when politicians love to throw money for your vote.

 

The latest I'm read is instead of two $1000 payments over two months it would instead be one payment for $1000-1200 plus $500 for each dependent with variations if you are filing federal tax return as single or joint return.....and also a major expansion of unemployment benefits.  Also more money being spent in a variety of small business & individual safety net programs with the final bill being around $1.2 trillion.  Time will tell....we should know by around Monday or Tuesday US time.

 

https://thehill.com/homenews/senate/488774-senate-negotiators-near-agreement-on-keeping-rebates-in-coronavirus-stimulus

Quote

The emerging deal being hammered out by Senate negotiators would provide one round of $1,000 checks to eligible adults at a cost of approximately $250 billion and match that with a similarly costly expansion of unemployment benefits — in the ballpark of $250 billion, according to two sources familiar with the talks. 

 

[gk10002000]

13 hours ago, fredwiggy said:

As a very general rule of thumb, if your only income is from Social Security benefits, they won't be taxable, and you don't need to file a return. But if you have income from other sources as well, there may be taxes on the total amount. Supposedly ,most should get it,even the unemployed and retired,who don't file taxes. I guess time will tell. Everyone's affected by this disease,including US citizens living here.

It really is not true that if SSA is your only income you don't have to file.  SSA benefits are taxable if you receive more than 25,000. Now granted many people's SSA benefit is less than that, but above 25,000 ssa becomes taxable so you would have to file to sort things out.  And you would want to file if over 65 because you get some extra standard deduction, etc.

[gk10002000]

12 hours ago, Pib said:

Stimulating the US economy is only one reason.  Other reasons exist such as to provide additional money regardless of where you live since corona virus is pretty much impacting US citizens regardless of where they live in the world....and it's election year when politicians love to throw money for your vote.

 

The latest I'm read is instead of two $1000 payments over two months it would instead be one payment for $1000-1200 plus $500 for each dependent with variations if you are filing federal tax return as single or joint return.....and also a major expansion of unemployment benefits.  Also more money being spent in a variety of small business & individual safety net programs with the final bill being around $1.2 trillion.  Time will tell....we should know by around Monday or Tuesday US time.

 

https://thehill.com/homenews/senate/488774-senate-negotiators-near-agreement-on-keeping-rebates-in-coronavirus-stimulus

 

I also read that "a person would have a choice to use their 2018 or 2019 tax numbers.  How that option would be asked for or submitted I have no idea.  Nothing spelled out if they would issue paper checks mailed to   (your last address on file with the IRS 1040? as a guess) or would it be direct deposited?  Seems like some sort of correspondence or communication may be needed.  Also there were no details on people that may now be retired or making the same or less money and how to handle that if that is to be addressed at all?

 

  I apparently will not be eligible as my income the last two years exceeded the limits.  That's OK.  I put money away for a rainy day and was ready to retire anyway.  Got lucky I took this contract job with a L3Harris and am working and getting paid a ton.  I was prepared to go to Thailand for a 90 day vacation in Thailand right after New Year but took this gig.  Sadly it is in New Jersey and it is getting crazy here just a few miles west of New York city.  But things will pass, I should be able to cash up a lot in the next few months and will see what shakes out after that. 

[bkk6060]

16 minutes ago, gk10002000 said:

I also read that "a person would have a choice to use their 2018 or 2019 tax numbers.

From a business news website:

 

The IRS would determine income based on taxpayers' 2018 tax returns, or 2019 tax returns in cases where there is no 2018 return --

[Pib]

It's definitely going to be challenge to distribute the funds to many people as the last address or direct deposit acct on file with the US Treasury/IRS may no longer be accurate as many people change addresses and/or bank accts each year.  And I expect few immediately notify the IRS of an address change like the IRS prefers you do.

 

Instead people just wait until they file their next federal tax return with their new address and bank acct info for tax payment or refund.  And then you have many people that don't even need to file a federal return and may have moved several times since filing their last return.   Unfortunately, the bulk of these folks are in the lower income group which will probably have the most need for the money.

 

For me, I had to switch my mailing address in mid 2019 (didn't physically move....just had to change my mailing address which is what the IRS has on file for me).  While I immediately notified those federal agencies sending me monthly pension checks like SSA, mil retirement, etc., I did not notify the IRS....I figured I would wait until I filed my 2019 tax return sometime between Jan-Apr 2020.  Well, I've had my federal return done since mid Feb but sometimes being a procrastinator and waiting to triple check my return I just set on the return for a month.  Was letting it season on my computer hard drive so to say....open it occasionally to check some entries again...close it...and then repeat the cycle over the weeks.   Yeap, even though I was getting a refund I was procrastinating...in no rush to file even though I was getting a refund....may just wait until early April to file.   

 

However, but, when seeing the US govt is probably going to be sending out a healthy size one time payment--possibly a payment via snail mail...of around $1,000 as soon as early-mid April and knowing the IRS still had my old address on file I got motivated.  I finished-up my federal return mid last week and efiled which has my new address and latest bank acct info for direct deposit.   

 

So, I sure hope if they decide to use 2018 return income to determine the size of a person's payment I also sure hope they use my 2019 return efiled last week for my current address "if they decide to go the snail mail route for payment."  Now if they go the direct deposit route (which they probably will where ever possible) I'm good-to-go there whether using my 2018 or 2019 return. 

 

For people who are currently receiving monthly govt payments (SSA, mil retirement, civil service, VA, etc) I expect this upcoming corona virus one time payment will just be sent to the direct deposit acct/address on file currently being used for those payments as that gets the money distributed fast without address/bank acct errors causing the payment to be rejected...get lost in space.   And if a snail mail payment gets lost in space you can bet the govt is not going to quickly issue you a replacement check until after some extended waiting period in order to see if the snail mail check returns to them or don't get fraudulently cashed.

 

I expect we'll know by mid week what Congress decides on as they go thru last minute Democrat-Republican food fights and pork barrel add-ons in final tweaking of the size of the payment, size of unemployment benefits, loans for businesses, medical system funds, etc.  Hopefully, Donald won't throw a money wrench in the process as Congress decides as he's done enough damage already.  And of course the stock markets will tank further as they decide.

Edited March 23, 2020 by Pib

[cmarshall]

15 hours ago, Pib said:

Stimulating the US economy is only one reason.  Other reasons exist such as to provide additional money regardless of where you live since corona virus is pretty much impacting US citizens regardless of where they live in the world....and it's election year when politicians love to throw money for your vote.

 

The latest I'm read is instead of two $1000 payments over two months it would instead be one payment for $1000-1200 plus $500 for each dependent with variations if you are filing federal tax return as single or joint return.....and also a major expansion of unemployment benefits.  Also more money being spent in a variety of small business & individual safety net programs with the final bill being around $1.2 trillion.  Time will tell....we should know by around Monday or Tuesday US time.

 

https://thehill.com/homenews/senate/488774-senate-negotiators-near-agreement-on-keeping-rebates-in-coronavirus-stimulus

 

Pib,

I am assuming that no application will be necessary since the IRS knows our income levels.  It would seem like a processing nightmare to have to review and approve many millions of applications.  

 

Is that how you read it?  Do you know how the mechanics of the Bush stimulus were handled?

[Pib]

1 hour ago, cmarshall said:

Pib,

I am assuming that no application will be necessary since the IRS knows our income levels.  It would seem like a processing nightmare to have to review and approve many millions of applications.  

 

Is that how you read it?  Do you know how the mechanics of the Bush stimulus were handled?

Naw...no applications.   Below webpage talks how the stimulus checks/rebates worked after Bush drove the US economy off the cliff his final year in office. 

https://www.thebalance.com/stimulus-checks-3305750

 

And then an interesting IRS webpage contained within above article....the IRS historical webpage talks who was eligible for the stimulus checks in 2008. 

https://www.irs.gov/newsroom/basic-information-on-the-stimulus-payments

Edited March 23, 2020 by Pib

[racyrick]

Hate to throw cold water on us that are living in Thailand, but I read that the people who receive the checks must be a RESIDENT of the US as determined by the address on file with the IRS, NOT the SSA.

 

So if you are lucky to still have a US address for your taxes, you are good to go.

 

No mention of that clause if they send out checks to those receiving SSA payments.

 

Nothing in stone until they actually pass a bill with the exact requirements.

[Pib]

Will just have to wait and see what happens but I expect the method of distribution will very similar to how they did it in 2008.  A combination of direct deposit and snail mail checks.  See the wikipedia article below....I partially quoted part of the article.

 

https://en.wikipedia.org/wiki/Economic_Stimulus_Act_of_2008

 

Quote

 

Tax rebates[edit]

Tax rebates created by the law were paid to individual U.S. taxpayers during 2008. Most taxpayers below the income limit received a rebate of at least $300 per person ($600 for married couples filing jointly). Eligible taxpayers received, along with their individual payment, $300 per dependent child under the age of 17. The payment was equal to the payer's net income tax liability, but could not exceed $600 (for a single person) or $1200 (married couple filing jointly).^[3] Net liability can be found in these locations:

• Form 1040: line 57 plus line 52
• Form 1040A: line 35 plus line 32
• Form 1040EZ: line 10

Those with no net tax liability were still eligible to receive a rebate, provided they met minimum qualifying income of $3,000 per year.^[4] Rebates were phased out for taxpayers with adjusted gross incomes greater than $75,000 ($150,000 for couples filing jointly) in 2007. For taxpayers with incomes greater than $75,000, rebates were reduced at a rate of 5% of the income above this limit. Individuals who were claimed as dependents by another taxpayer were not eligible for the rebates.^[3]

The $3,000 of qualifying income included earned income (e.g., wages, self-employment income, Social Security), however Supplemental Security Income did not count as qualifying income for the stimulus payment. Also, low-income workers were required to file a return to receive the payment, even if they would not be required to file for income tax purposes.^[5]

Some taxpayers who exceeded the income limits, but had qualifying children, still received a rebate. For example, a single parent whose 2007 adjusted gross income was $90,000, paid more than $600 in 2007 taxes and had two qualifying children received a rebate of $450. The IRS added together a $600 rebate for the parent and $600 for the two children to get $1,200, then subtracted the phaseout reduction of $750 ($50 for each $1,000 income above $75,000) to get $450.^[6] According to the IRS, the stimulus payment did not reduce taxpayers' 2008 refunds or increase the amount owed when filing 2008 returns.^[7]

 

The payment schedule was based on whether the taxpayer's 2007 tax return listed direct deposit information as well as the last two digits of the social security number of the tax return's main filer, with direct deposits being sent between May 2 and May 16, and paper checks being sent between May 16 and July 11.^[8] On April 25, 2008, President Bush announced that the rebates would start going out on April 28, 2008 and the paper checks would be sent out starting on March 28, earlier than previously announced by the IRS.^[9]

 

Taxpayers who used direct deposit for their refunds received the stimulus payment that same way, provided they had not:

• Taken out a refund anticipation loan or "rapid refund";
• Used a service such as TurboTax and had the transmission fees taken out of the refund amount;
• Had their refund deposited across two accounts;
• Allowed their tax preparer (such as a CPA) to deduct their fee from the refund amount.

If any of these scenarios applied, the payment was sent as a paper check through U.S. mail.

 

 

[TallGuyJohninBKK]

55 minutes ago, Pib said:

The $3,000 of qualifying income included earned income (e.g., wages, self-employment income, Social Security), however Supplemental Security Income did not count as qualifying income for the stimulus payment.

 

So did the required income back the last time around NOT include non-earned income such as investment earnings, pensions, retirement account withdrawals, etc etc???

 

BTW, another little quirk from the last time around, according to the document Pib linked to above:

 

Quote

Taxpayers with an Individual Taxpayer Identification Number (ITIN) instead of an SSN are not eligible to receive a stimulus payment. Both people listed on a "married filing jointly" return must have valid SSNs to qualify for the payment — if only one has a valid SSN, neither can receive the payment. 

 

No idea if similar rules will apply this time around, but how they decide these things is peculiar at best....

 

Edited March 23, 2020 by TallGuyJohninBKK

[Pib]

The devil is in the fine print.  Politicians and IRS bean counters definitely know how to write devilish fine print. 

[sirineou]

5 minutes ago, TallGuyJohninBKK said:

 

So did the required income back the last time around NOT include non-earned income such as investment earnings, pensions, retirement account withdrawals, etc etc???

 

I think it is based on tax return, It would be to complicated to implement  otherwise.

  Does anyone know definitively if it is 2018 or 2019 tax return. 2018 I was still working and had a significantly higher income that the limit. But 2019 I was retired and  qualify depending if the limit is 65K or 75K ,.

[TallGuyJohninBKK]

6 minutes ago, sirineou said:

I think it is based on tax return, It would be to complicated to implement  otherwise.

  Does anyone know definitively if it is 2018 or 2019 tax return. 2018 I was still working and had a significantly higher income that the limit. But 2019 I was retired and  qualify depending if the limit is 65K or 75K ,.

 

I thought what I had read previously indicated they were going to be working from 2018 income and/or tax returns....  This was an analysis of the original Republican version of a couple days ago, per the Wash. Post:

 

Quote

 

The legislation would provide checks of $1,200 per adult for many families, as well as $500 for every child in those families. Families filing jointly would receive up to $2,400 for the adults. The size of the checks would diminish for those earning more than $75,000 and phase out completely for those earning more than $99,000. The poorest families, those with no federal income tax liability, would see smaller benefits, though the minimum would be set at $600.

...

An early analysis showed the vast majority of middle class people would receive the cash payment, but the percentage doing so falls dramatically toward the bottom of the income distribution. About 22 million people earning under $40,000 a year would see no benefit under the GOP plan, according to an initial analysis by Ernie Tedeschi, a former Obama administration economist.

 

 

https://www.washingtonpost.com/business/2020/03/19/trump-coronavirus-economic-plan-stimulus/

 

 

Edited March 23, 2020 by TallGuyJohninBKK

[Pib]

1 minute ago, sirineou said:

I think it is based on tax return, It would be to complicated to implement  otherwise.

  Does anyone know definitively if it is 2018 or 2019 tax return. 2018 I was still working and had a significantly higher income that the limit. But 2019 I was retired and  qualify depending if the limit is 65K or 75K ,.

I definitely do not know if it will be based on 2018 or 2019 returns, but if I was a betting man it will be based on 2018 (at least for the check amount) as everyone would have filed by now....IRS databases pretty much completed for 2018....a stable database.

 

However, 2019 is still an ongoing process....many, many folks have not filed....the IRS 2019 database is still developing as people file their 2019 returns. 

 

 

[TallGuyJohninBKK]

1 minute ago, Pib said:

I definitely do not know if it will be based on 2018 or 2019 returns, but if I was a betting man it will be based on 2018 (at least for the check amount) as everyone would have filed by now....IRS databases pretty much completed for 2018....a stable database.

 

However, 2019 is still an ongoing process....many, many folks have not filed....the IRS 2019 database is still developing as people file their 2019 returns. 

 

And the filing deadline for 2019 has already been officially extended into mid July this year for everyone (not just foreign resident expats), meaning even fewer people will have their tax filings in in the near term.

 

Edited March 23, 2020 by TallGuyJohninBKK

[TallGuyJohninBKK]

 

 

Quote

 

Coronavirus stimulus bill fails to move forward; McConnell cites 'obstruction'

A vote to advance the massive coronavirus stimulus bill failed on Sunday night in the Senate as negotiations had yet to produce a deal on the more than $1 trillion aid package. A second vote has now been scheduled for Monday shortly after 12:00 p.m. ET.

Republicans, who needed 60 votes to move forward on the bill, weren't able to win over any Democrats to proceed, meaning no aid will flow to the economy — including checks to individuals, help for small businesses and bailouts for big corporations — until an agreement is reached.

 

Democrats said that they were dissatisfied with worker protections in the bill, which was written by Republicans, and that the rules on corporate bailouts are too lax.

 

 

https://www.nbcnews.com/politics/congress/top-democrats-say-they-re-not-yet-ready-sign-coronavirus-n1166021

 

[TallGuyJohninBKK]

18 minutes ago, sirineou said:

I think it is based on tax return, It would be to complicated to implement  otherwise.

  Does anyone know definitively if it is 2018 or 2019 tax return. 2018 I was still working and had a significantly higher income that the limit. But 2019 I was retired and  qualify depending if the limit is 65K or 75K ,.

 

2018 tax return according to NBC News below:

 

Quote

 

The checks, however, would reduce to $600 (or $1,200 for married couples) for taxpayers who have little or no income tax liability but have at least $2,500 in qualifying income, according to a GOP summary of the plan. Individuals and couples with children would be eligible for an additional $500 per each child they have.

...

The income levels the government would review to make the cash payout determinations would be based on 2018 tax returns, McConnell said.

 

 

https://www.nbcnews.com/politics/congress/see-who-s-eligible-coronavirus-checks-senate-gop-releases-details-n1164311

 

[Pib]

1 hour ago, TallGuyJohninBKK said:

 

BTW, another little quirk from the last time around, according to the document Pib linked to above:

Quote

Taxpayers with an Individual Taxpayer Identification Number (ITIN) instead of an SSN are not eligible to receive a stimulus payment. Both people listed on a "married filing jointly" return must have valid SSNs to qualify for the payment — if only one has a valid SSN, neither can receive the payment. 

No idea if similar rules will apply this time around, but how they decide these things is peculiar at best....

 

 

I expect the stimulus payments this time around will also have rules that prevent payment when a person has an ITIN vs SSN.  Below historical 2008 IRS Q&A webpage covers the "ITIN related rules" for the 2008 stimulus payment.

https://www.irs.gov/newsroom/economic-stimulus-payment-qas-taxpayer-identification-numbers