Did you get $600 from the government?

[brianmanahan]

The IRS website says they reduce the rate at 5% of how much you go over the AGI limits. I need to look up last year's numbers and see if they did their math right.

ah you're right, there is a phaseout starting at those points:

These are the income limits to be eligible for the $600 stimulus check

The second round of coronavirus stimulus checks are worth less than the first payment and the income limits are also less generous.

www.cnbc.com

 

[Starbuck1975]

Nope

 

[Scarpozzi]

ah you're right, there is a phaseout starting at those points:

These are the income limits to be eligible for the $600 stimulus check

The second round of coronavirus stimulus checks are worth less than the first payment and the income limits are also less generous.

www.cnbc.com

I thought our AGI was lower last year, but it was calculated correctly. Someone keeps filing my kids on their taxes because their SSNs were hacked in that Paychex company data breach 2 years ago. It made me wonder if that caused some issues, but it appears not.

Don't do business with Paychex, btw....their security must be crap. 😃

 

[Ajay]

Yes. $1200 as a married couple making below $150K. Not an ATOT millionaire.

 

[Captante]

Yes. $1200 as a married couple making below $150K. Not an ATOT millionaire.

Really NOBODY on here should have collected a dime!

 

[Ajay]

Looks at sig...need, no.

Edit: Delete the part where AJay whines about stupid problems

 

[Red Squirrel]

ah you're right, there is a phaseout starting at those points:

These are the income limits to be eligible for the $600 stimulus check

The second round of coronavirus stimulus checks are worth less than the first payment and the income limits are also less generous.

www.cnbc.com

Wow I would actually qualify lol. When they have these things in Canada it's usually for low income earners only. Though CERB has a bunch of requirements to it and not just a minimum income. Most people who applied don't actually qualify and will have to pay it back at tax time.

These one time amounts are not really enough for the people who do need it though. People who lost their jobs still have reoccuring bills to pay, a one time amount is not enough.

 

[s0me0nesmind1]

Protip: If you made substantially more money in 2020 than in 2019 like I did delay the shit out of filing your 2020 tax return as much as possible. More stimulus checks will be coming, and you will definetly want to make sure your income is low as possible.

But anyhow for the 2nd stimulus check I got around 1200 since I'm in the middle of the phase out with wife + 2 kids.

 

[MtnMan]

Mine and wife's deposited on 1/4.

 

[ch33zw1z]

Yes, don't remember what day exactly, gonna go stimulate that economy

 

[Scarpozzi]

Yes, don't remember what day exactly, gonna go stimulate that economy

Your money will go further if you change it over to singles before you head to those clubs by the airport.

 

[IronWing]

I know we can’t pick which specific programs our own tax dollars fund but I like to think that my $600 came directly from Spidey.

 

[ch33zw1z]

Your money will go further if you change it over to singles before you head to those clubs by the airport.

Thanks for the pro tip, but I'm not sure the mrs wants to see me at work.

 

[TXHokie]

I got my paper check straight from the money printer go brrrr factory.

I'm on the fence as getting the money is nice but I don't really need it. Took me a decade to clear up my credit card debt early in life and becoming a frugal saver and it concern me to see so much money being thrown around indiscriminately as the debt pile get bigger and bigger. Couples making $150k must be pulling in $200k before deduction and 401k etc. A lot of middle class people I know got richer during this pandemic not losing their job, got more money saved since can't take fancy vacations, and put more into stocks that reaped huge. Just anecdotal but still.

 

[ch33zw1z]

I got my paper check straight from the money printer go brrrr factory.

I'm on the fence as getting the money is nice but I don't really need it. Took me a decade to clear up my credit card debt early in life and becoming a frugal saver and it concern me to see so much money being thrown around indiscriminately as the debt pile get bigger and bigger. Couples making $150k must be pulling in $200k before deduction and 401k etc. A lot of middle class people I know got richer during this pandemic not losing their job, got more money saved since can't take fancy vacations, and put more into stocks that reaped huge. Just anecdotal but still.

Im in a similar anecdotal situation. I spent the last stimulus, but I wish they'd just help the people who are going under with it. I also feel like since I'm not spending money at places like unusually would, then I'll spend the stimulus on things I would like to get, but don't pony up for. This time around, I'm going to upgrade the fridge and I go thru a small local vendor for it.

 

[allisolm]

A lot of middle class people I know got richer during this pandemic not losing their job, got more money saved since can't take fancy vacations, and put more into stocks that reaped huge.

That description fits us (if you change fancy vacations into ANY vacations and huge stock reapings into stock gains.) We were lucky and I am grateful for that.

Our $1200 was deposited in our checking acct Jan 1.

 

[s0me0nesmind1]

I got my paper check straight from the money printer go brrrr factory.

I'm on the fence as getting the money is nice but I don't really need it. Took me a decade to clear up my credit card debt early in life and becoming a frugal saver and it concern me to see so much money being thrown around indiscriminately as the debt pile get bigger and bigger. Couples making $150k must be pulling in $200k before deduction and 401k etc. A lot of middle class people I know got richer during this pandemic not losing their job, got more money saved since can't take fancy vacations, and put more into stocks that reaped huge. Just anecdotal but still.

Theres plenty of people that make as much as you do that are "struggling"

Given - the majority of Americans (regardless of if they are poor or make $70k+) are consumer-spending whores. Especially the middle-class. They always feel the need to buy shit and keep up with the Jones' all the time as they spend every month paying off a home, a credit card or 2, tons of monthly expenses, 2 new vehicles, etc.. etc.. All the while, they can't fit their vehicles in the garage because it's filled with crap.

I guess my point is, as much as people may SEEM like they make decent bank from their job - it doesn't mean they aren't struggling financially from piss poor decisions. Because the majority simply are.

 

[local]

We keep getting the full amount for five people, $3k on this last go. While we did not need any of it I certainly wasn't going to turn it away. We are going into 2021 debt free and with a huge, for us, summer vacation already booked. All thanks to by far the best financial year of my life and the gov continuing to spit out free money. I do realize that we are very lucky to be in this position.

 

[mztykal]

Got nothing...again...

 

[brianmanahan]

it's not easy being rich

 

[ch33zw1z]

it's not easy being rich

mo money, mo problems

 

[Pohemi]

Really NOBODY on here should have collected a dime!

I collected 6,000 dimes! Thankfully I wasn't required to pick them all up off the ground...

 

[ponyo]

mo money, mo problems

It's definitely true. Mo money gives you options. With increased options come mo problems you didn't anticipate. Less is more sometimes and it's good to step back and look at the big picture.

Possessions weigh you down. Simple is often best.

 

[Captante]

It's definitely true. Mo money gives you options.

Why is it I'm NOT feeling the least bit sorry for you?

 

[KentState]

Have not seen check and didn't anticipate receiving one either.