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

[Sheryl]

Any idea HOW he money will be given? Check mailed or other?

[Jingthing]

5 minutes ago, Sheryl said:

Any idea HOW he money will be given? Check mailed or other?

Good question. 

 

 

 

[Nyezhov]

6 minutes ago, Sheryl said:

Any idea HOW he money will be given? Check mailed or other?

Mailed to a US SS or Tax adress or direct deposit if you have that option in your Tax return. I think. Most SS recipients have electronic payment, so its not like the gubbmint doesnt have that info, but I dont know what system they will use to pay.

[Pib]

Senate approved the bill 96-0.  Now on to the House which expects to vote Friday on it....then on to Donald for signature.  Appears 2019 returns will be used if filed already; otherwise 2018 returns will be used.  But provisions in the bill for those who didn't have to file returns due to income level.

 

https://us.cnn.com/2020/03/25/politics/stimulus-senate-action-coronavirus/index.html

 

 

https://edition.cnn.com/2020/03/25/politics/senate-deal-stimulus-checks-coronavirus/index.html

Edited March 26, 2020 by Pib

[Pib]

For direct deposit the feds will be using an acct you have authorized on your 2018 or 2019 return....and/or direct deposit info regarding your SSA or VA payments.   No direct deposit info I guess they will be mailed out.   But I expect the feds are just not going to mail out a check unless they feel very confident it's you current address.  Instead,  you may get a mail notice to contact the US govt regarding payment.

[Jingthing]

It's fair to assume that they will mail a check if IRS doesn't have a bank account detail confirmed here. 

 

I think it's also fair to assume that they will mail checks abroad. Why wouldn't they? 

 

So is it still possible to deposit a US check into a Thai bank account? 

 

 

[Nyezhov]

Cool. Ill stimulate the Cambodian economy.

[Pib]

9 minutes ago, Jingthing said:

It's fair to assume that they will mail a check if IRS doesn't have a bank account detail confirmed here. 

 

I think it's also fair to assume that they will mail checks abroad. Why wouldn't they? 

 

So is it still possible to deposit a US check into a Thai bank account? 

 

 

Interesting where at 1:39 into the video the special circumstances are discussed about getting a check if you didn't make enough money to file a federal return. 

 

Basically you will have to file a return in order to get the rebate, unless you didn't need to file because your SSA payment fell below the filing threshold.  SSA pensions WILL get the rebate even if they didn't file a return.  But those that didn't file a return because of low income will not get a rebate until they file a return if I understood the video correctly.

[Sheryl]

32 minutes ago, Jingthing said:

It's fair to assume that they will mail a check if IRS doesn't have a bank account detail confirmed here. 

 

I think it's also fair to assume that they will mail checks abroad. Why wouldn't they? 

 

So is it still possible to deposit a US check into a Thai bank account? 

 

 

Is there a way to provide IRS with direct deposit link? I have never needed to do so.

 

My SS is direct deposit but not sure we can count on that database being looked at.

[Jingthing]

1 hour ago, Sheryl said:

Is there a way to provide IRS with direct deposit link? I have never needed to do so.

 

My SS is direct deposit but not sure we can count on that database being looked at.

They will be looking at current IRS records. Yes it would be nice if they coordinated with social security to use the direct deposit information from there. But that's doubtful. I think you would need to contact IRS about your question and if you get an answer please share it.

[fredwiggy]

I was told that since SS has all your information,address,direct deposit,family members etc,that SS will be doing this automatically,without a tax return since I don't make enough to do one anyway. Anyone else heard this?  Saw this on IRS website   ......... i.n response to the COVID-19 coronavirus crisis, all TACs are temporarily closed until further notice to ensure the continued safety and health of IRS employees and taxpayers.

Edited March 26, 2020 by fredwiggy
Addition

[Pib]

9 minutes ago, fredwiggy said:

I was told that since SS has all your information,address,direct deposit,family members etc,that SS will be doing this automatically,without a tax return since I don't make enough to do one anyway. 

That what's been said/reported in several posts earlier in this thread to included the videos....review them.

[Jingthing]

Yes but we don't really know if the irs will use direct deposit bank details from social security if they don't have that information themselves. I guess we'll find out later. 

[fredwiggy]

I used to have another bank for direct deposit for my IRS returns. No longer,but I do have direct deposit as most here do for my SS retirement,so they know that new bank.

[Nyezhov]

2 hours ago, Sheryl said:

Is there a way to provide IRS with direct deposit link? I have never needed to do so.

 

My SS is direct deposit but not sure we can count on that database being looked at.

Yes that is what they will use as I understand it.

[Pib]

Some partial quotes from a The Hill news article.  Interesting that distribution of debit cards are being considered instead of checks.  Although the debit cards would still have to go thru snail mail at least a person could immediately get the money via ATM withdrawal vs trying to cash a check and waiting for it to clear.  And no doubt there would be some associated ATMs fees if they use the same Direct Express debit card used by the US govt for benefit payments....a card that carries a $3 flat fee plus 3% foreign transaction fee of amount withdrawn....and don't forget the Thai ATM Bt220 fee for a foreign card.

 

https://thehill.com/policy/finance/489578-questions-and-answers-on-coronavirus-relief-checks

Quote

 

How will the money be sent?

The Treasury Department and the IRS would be responsible for distributing the money. The IRS can disburse rebates to people electronically to accounts authorized for tax refunds or other federal payments on or after Jan. 1, 2018.

Otherwise, recipients will likely receive their check in the mail. The Finance Committee aide said the IRS is looking to see if they can deliver the money through debit cards mailed to people instead of paper checks, which would get the funds to people faster.

The legislation directs the Treasury Department to work with the Social Security Administration and other agencies to conduct a public awareness campaign about the checks.

 

Quote

Tax experts said there could be challenges in getting the checks to some populations, such as people who have moved since they last filed a tax return or those who don’t file tax returns.

“The challenge will be reaching individuals who don’t file tax returns but do not claim Social Security benefits,” said Nicole Kaeding, a vice president at the National Taxpayers Union Foundation. That group of people tends to be people who are low-income adults who are not elderly or disabled, she added.

 

 

 

 

Edited March 26, 2020 by Pib

[GregTN]

I have not filed taxes since 2017 due to not meeting the threshold required and only collecting a company pension, no social security yet.  This morning I got on line and E-filed a 2019 tax return for zero tax refund/payment, included a US mailing address plus direct deposit information to my US bank.  It took about an hour to complete and might be an easy answer to receive it.  Time will tell.

[ChouDoufu]

On 3/24/2020 at 10:01 PM, bkk6060 said:

You probably will not get a check and in fact I think people like you do not deserve one.

They send a check to you in Thailand and you spend the money here?

Make sense to you?

They want that money to help people in the US and for much of it to go back into the US economy.

Not for someone living in Thailand to buy Som Tum.

the usa is one of the few countries that demand we pay taxes on all income from whatever source anywhere in the universe.

 

we get a reduction up to a point on income earned overseas, but that is by treaty, and only to avoid double taxation.  even military stationed overseas have to pay federal and state taxes.

 

we don't get any favors for us-based income like capital gains and bond distributions.  nor are we free of paying state taxes.  it seems expat retirees are taxed exactly the same as their countryfellows back home.

Edited March 26, 2020 by ChouDoufu

[bkk6060]

14 minutes ago, ChouDoufu said:

the usa is one of the few countries that demand we pay taxes on all income from whatever source anywhere in the universe

False.

If you are a U.S. citizen or a resident alien of the United States and you live abroad, you are taxed on your worldwide income. However, you may qualify to exclude your foreign earnings from income up to an amount that is adjusted annually for inflation ($103,900 for 2018, $105,900 for 2019, and $107,600 for 2020).Feb 19, 2020

 

The Foreign Earned Income Exclusion (FEIE, using IRS Form 2555) allows you to exclude a certain amount of your FOREIGN EARNED income from US tax. For tax year 2019 (filing in 2020) the exclusion amount is $105,900.

 

Of course US military are taxed they are employed by the US government.

[ChouDoufu]

17 minutes ago, bkk6060 said:

False.

If you are a U.S. citizen or a resident alien of the United States and you live abroad, you are taxed on your worldwide income. However, you may qualify to exclude your foreign earnings from income up to an amount that is adjusted annually for inflation ($103,900 for 2018, $105,900 for 2019, and $107,600 for 2020).Feb 19, 2020

 

The Foreign Earned Income Exclusion (FEIE, using IRS Form 2555) allows you to exclude a certain amount of your FOREIGN EARNED income from US tax. For tax year 2019 (filing in 2020) the exclusion amount is $105,900.

 

Of course US military are taxed they are employed by the US government.

please read the entire post before you selectively snip out one section upon which to comment. 

 

thank you.

 

36 minutes ago, ChouDoufu said:

.....we get a reduction up to a point on income earned overseas....

 

[bkk6060]

16 minutes ago, ChouDoufu said:

please read the entire post before you selectively snip out one section upon which to comment. 

 

thank you.

 

 

 

 

55 minutes ago, ChouDoufu said:

we pay taxes on all income from whatever source anywhere in the universe.

Doesn't matter.

Your first sentence is totally false so why did you post it?

 

To add, I bet most US working here pay no US taxes on their income.

The threshold is fairly high over $100,000.

US or not there are not a lot of jobs here paying more then that.

 

To add, if they are working here full-time, retired here or whatever, I do not think they should get a check.  Just my opinion, give it to families and people in the US who lost their jobs.

Putting a US check back into the Thailand economy makes no sense to me. Of course, Thailand would like it.

 

Edited March 26, 2020 by bkk6060

[ChouDoufu]

2 hours ago, bkk6060 said:

 

 

Doesn't matter.

Your first sentence is totally false so why did you post it?

 

To add, I bet most US working here pay no US taxes on their income.

The threshold is fairly high over $100,000.

US or not there are not a lot of jobs here paying more then that.

 

To add, if they are working here full-time, retired here or whatever, I do not think they should get a check.  Just my opinion, give it to families and people in the US who lost their jobs.

Putting a US check back into the Thailand economy makes no sense to me. Of course, Thailand would like it.

 

 

once again, please do not take portions of a post out of context.

 

3 hours ago, ChouDoufu said:

the usa is one of the few countries that demand we pay taxes on all income from whatever source anywhere in the universe.

 

we get a reduction up to a point on income earned overseas,...

 

thank you.

 

as to not paying taxes, retirees can have various income streams.  social security, stocks, bonds, annuities, interest.  all are taxable, and very easy even with deductions and exclusions to owe cash money to the irs.  the foreign earned income exclusion does not apply to income from us sources.  single filers earning more than $12K in stock & bond dividends and short term capital gains will be writing a check to the irs, assuming they have no other adjustments.

 

and don't forget you "owe tax" on the interest earned on your 880K fixed account and the dividends received on any thai stocks you own.  that income is NOT excluded as it is considered unearned income.

[meechai]

I do not know if Expats will get it or not.

 

But as someone now living here in the US I would hope so.

 

If Stimulus can be given to banks etc etc why should every US citizen not also get it?

Present in US or not IMHO every US Citizen should benefit equally

Edited March 26, 2020 by meechai

[gk10002000]

16 hours ago, Jingthing said:

Yes but we don't really know if the irs will use direct deposit bank details from social security if they don't have that information themselves. I guess we'll find out later. 

today the details came out.  If a social security person did not file a return because they did not have to due to low income and only SSA benefits, they will get the funds direct deposited the same way their SSA benefits are.  Similarly other tax payers will get the money direct deposited based on the way their tax was done before.  More details all over the interweb, including how errors or mistakes or omissions may be handled.  Those details seemed a bit shaky

[hereforgood]

9 minutes ago, gk10002000 said:

today the details came out.  If a social security person did not file a return because they did not have to due to low income and only SSA benefits, they will get the funds direct deposited the same way their SSA benefits are.  Similarly other tax payers will get the money direct deposited based on the way their tax was done before.  More details all over the interweb, including how errors or mistakes or omissions may be handled.  Those details seemed a bit shaky

I have read this I assume they will get the information from the SSA. We may have to contact them those of us that did not need to file a tax return. I am sure more info will come out shortly 

Edited March 26, 2020 by hereforgood

[cmarshall]

12 hours ago, ChouDoufu said:

 nor are we free of paying state taxes.  it seems expat retirees are taxed exactly the same as their countryfellows back home.

It's your own fault if you are still paying state taxes after expatting to Thailand.  If you look up the rules for establishing tax domicile in your former state and make sure that you do not qualify (own property, have a driver's license, voting, etc.) then you will be free from state tax as long as you remain abroad.  But the rules differ greately from state to state.

 

When I retired to Thailand from New York City, I took all the necessary steps including surrendering my driver's license.  A couple of years later I did get a letter from the NYS Tax Commission asking where are my returns.  I informed them of the date that I moved out and never heard from them again.

[cmarshall]

13 minutes ago, gk10002000 said:

today the details came out.  If a social security person did not file a return because they did not have to due to low income and only SSA benefits, they will get the funds direct deposited the same way their SSA benefits are.  Similarly other tax payers will get the money direct deposited based on the way their tax was done before.  More details all over the interweb, including how errors or mistakes or omissions may be handled.  Those details seemed a bit shaky

Do you have a link?  Bloomberg news is advising that if you did not file a return for 2019, because your income was below the minimum, then you should file a return now to get the payment.

 

If you’ve filed a tax return this year, the IRS will use the information you provided there about your 2019 income, marital status and dependents. (The usual deadline for filing tax returns, April 15, has been pushed back to July 15 this year in another response to the pandemic.) For those who haven’t submitted tax documents this year, the IRS will use data from last year’s filings. Americans who don’t earn enough to be required to file a tax return can submit one to the IRS now to make sure the agency has accurate information on them.

 

https://www.bloomberg.com/news/articles/2020-03-26/when-and-how-will-i-get-that-1-200-stimulus-payment-quicktake?srnd=premium

[gk10002000]

27 minutes ago, cmarshall said:

Do you have a link?  Bloomberg news is advising that if you did not file a return for 2019, because your income was below the minimum, then you should file a return now to get the payment.

 

If you’ve filed a tax return this year, the IRS will use the information you provided there about your 2019 income, marital status and dependents. (The usual deadline for filing tax returns, April 15, has been pushed back to July 15 this year in another response to the pandemic.) For those who haven’t submitted tax documents this year, the IRS will use data from last year’s filings. Americans who don’t earn enough to be required to file a tax return can submit one to the IRS now to make sure the agency has accurate information on them.

 

https://www.bloomberg.com/news/articles/2020-03-26/when-and-how-will-i-get-that-1-200-stimulus-payment-quicktake?srnd=premium

I had the great link at work.  Should have emailed it to my address here at home.  The details were short and to the point.  Below is not the link I emailed around work today.  I will update that tomorrow.  I get to work because luckily I work in the Defense industry and we are deemed Essential for the Defense Industrial Base.  Kind of lucky in a way because I semi retired last December and was literally on my way to Thailand right after Xmas and New Year.  This contract gig popped up with a crazy rate so I drove up to New Jersey.  Not much to do at the moment as New York City is closed and everything around here is on lockdown.  But for a few months there is nothing wrong with doshing up more $$$

 

https://news.yahoo.com/most-americans-coronavirus-stimulus-check-061900754.html

 

 

[gk10002000]

34 minutes ago, cmarshall said:

Do you have a link?  Bloomberg news is advising that if you did not file a return for 2019, because your income was below the minimum, then you should file a return now to get the payment.

 

If you’ve filed a tax return this year, the IRS will use the information you provided there about your 2019 income, marital status and dependents. (The usual deadline for filing tax returns, April 15, has been pushed back to July 15 this year in another response to the pandemic.) For those who haven’t submitted tax documents this year, the IRS will use data from last year’s filings. Americans who don’t earn enough to be required to file a tax return can submit one to the IRS now to make sure the agency has accurate information on them.

 

https://www.bloomberg.com/news/articles/2020-03-26/when-and-how-will-i-get-that-1-200-stimulus-payment-quicktake?srnd=premium

I had a great link today at work that i emailed around but I can't find the exact one right now while home.

 

https://news.yahoo.com/most-americans-coronavirus-stimulus-check-061900754.html

[JimGant]

18 hours ago, ChouDoufu said:

please read the entire post before you selectively snip out one section upon which to comment. 

Yeah, you too. Your complete post says: "we get a reduction up to a point on income earned overseas, but that is by treaty..."

 

No, the FEIE is courtesy of the Internal Revenue Code, not by tax treaty. And for folks working in countries with low income taxes (in comparison to US taxes), yes, the FEIE is the way to go. However, if this is not the situation, then, using Tax Treaty language to take a tax credit against US taxes is usually superior. See this:

https://1040abroad.com/blog/foreign-earned-income-exclusion-vs-foreign-tax-credit/