I'm against it in principle, but might as well spend the money on guns and good bourbon.

My two kids are out of the house and self-sufficient as of last year.

They both did their 2020 taxes and got $1400 today.

The wife and I haven't done 2020 taxes yet.
We will not claim either kid this year, but claimed both in 2019.

$5600 just dropped in my checking account.

I know the Democrats are just yeeting money out the door as fast as they can, but what gives?

Will I have to return part of the payment, pay taxes on it?
I'll just leave it sitting in my savings, but it seems like they may have screwed up.

I think question 3 would apply to you

IRS Link

Thanks for the link!
I should've googled it lol
I guess when they're printing money this fast, what a few extra million.

quote:

Originally posted by ElKabong:
Thanks for the link!
I should've googled it lol
I guess when they're printing money this fast, what a few extra million.

Maybe a few extra $$Billion.

As Senator Dirksen reportedly said, a Billion here, a Billion there, soon it adds up to real money.

I don’t know about ‘question 3’, but I’d be inclined to let it sit a while.

The way things go, can’t see anyone even asking about it for 3+ years, if ever.

quote:

Originally posted by ElKabong:
I'm against it in principle, but might as well spend the money on guns and good bourbon.

My two kids are out of the house and self-sufficient as of last year.

They both did their 2020 taxes and got $1400 today.

The wife and I haven't done 2020 taxes yet.
We will not claim either kid this year, but claimed both in 2019.

$5600 just dropped in my checking account.

I would suspect you will end up giving $2800 back. The stimulus is based on your 2020 return, but if you have not filed it yet, it is based on your 2019 return. Once you file 2020, they will be looking for that $2800. How long it takes them to get around to it is anybody's guess. In the meantime, I would feel safe spending $2800 and leaving the other $2800 in your savings account.

I say spend it and let them worry about how they are going to get it back if and when they decide they messed up and should not have sent it to you in the first place.

I still think if pretty much everybody receives the same amount of money then that makes its worth 'Zero'.

Elkabong, props to you on the use of the word "Yeet"

quote:

Originally posted by ElKabong:

We will not claim either kid this year, but claimed both in 2019.

There is your answer right there. Keep the $$, they based it off your 2019 tax return.

I had done my 2020 taxes 2 weeks ago and we had a baby last year which brings us to 3 children. I guess it did not process enough for the IRS to pay out based on that so we got the $5600 as well for two adults and two kids.

Sounds like they will do a catch-up payment of that other $1400 once my 2020 taxes are completed on their end.

quote:

Originally posted by henryaz:
The stimulus is based on your 2020 return

Not true.

It's based off the latest tax return the IRS has on file which for the OP appears to be 2019

quote:

Originally posted by Scoutmaster:
As Senator Dirksen reportedly said, a Billion here, a Billion there, soon it adds up to real money.

Dirksen actually said "Trillion," and that was back in the 60's.

quote:

$5600 just dropped in my checking account.

Buy a box of ammo.

Got love how they treat the $$$ they play with. We just had a story run here locally how the audit of the Colorado Dept of Labor shows that they cannot track down a half BILLION dollars in receivables and payables. Basically the employer premiums and CARES $$$ can't be tracked. WTF

Why a new thread on this subject?

https://sigforum.com/eve/forums...0601935/m/9700054084

There's no reaason you couldn't have posted your question in that thread.

quote:

Originally posted by kz1000:

quote:

$5600 just dropped in my checking account.

Buy a box of ammo.

LOL