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Omaha Steve

(99,780 posts) Fri Apr 10, 2020, 07:35 PM Apr 2020

IRS says stimulus payments will begin next week

Source: CNN

By Katie Lobosco, CNN

(CNN)The Internal Revenue Service said Friday that some stimulus payments will start going out next week, starting with people who have filed tax returns for 2018 or 2019 and authorized direct deposit.

The first round of direct-deposit payments will be made automatically to qualifying taxpayers.

Social Security beneficiaries will also receive their payments automatically. Those payments will go out "in the near future," the IRS said Friday.

The timeline keeps the first payments on the schedule promised by Treasury Secretary Steven Mnuchin, who said April 2 that the payments would begin going out within two weeks. He had earlier pushed for distributions, part of the $2.2 trillion economic relief package passed by Congress in March, to start as early as April 6.

Read more: https://www.cnn.com/2020/04/10/politics/stimulus-check-free-tax-filing/index.html

20 replies

= new reply since forum marked as read

Highlight:

IRS says stimulus payments will begin next week (Original Post) Omaha Steve Apr 2020 OP

Wait, what? I thought 50 million payments were already made. rzemanfl Apr 2020 #1

This is an article from Friday jimfields33 Apr 2020 #4

Adding clarity, these funds are not an advance against next year's tax refund. Snarkoleptic Apr 2020 #2

in the near future is like 10 minutes to 10 months these days dweller Apr 2020 #3

Are they going to use Social Security direct deposit info or mail checks? rzemanfl Apr 2020 #11

everything i've read says socialsecurity direct deposit dweller Apr 2020 #12

That's not what I have been reading, but I am baffled by the bullshit rzemanfl Apr 2020 #14

Here's the IRS website for submitting your information if you didn't file taxes and don't get SS progree Apr 2020 #5

You don't put the direct deposit info on your tax return DeminPennswoods Apr 2020 #6

Correct. I had a refund in 2017, so the info was there. I had to pay in 2018 and 2019, stopbush Apr 2020 #8

They say they will mail a check if they don't have direct deposit information progree Apr 2020 #9

Isn't Trump insisting that he personally sign each check? (n/t) forgotmylogin Apr 2020 #18

I read that he wants his signature on the checks (but I'm sure he has no ambitions to sign each one progree Apr 2020 #19

FTR, almost every federal govt program that dispenses DeminPennswoods Apr 2020 #20

Hopefully it goes more smoothly than the small business loans and grants progree Apr 2020 #7

Ours is pending to our credit union account in New York. nt EarthFirst Apr 2020 #10

Sure. I'll believe it when it's in my gldstwmn Apr 2020 #13

Exactly. SergeStorms Apr 2020 #15

Same here. orangecrush Apr 2020 #16

They had better RussBLib Apr 2020 #17

rzemanfl

(29,573 posts)

1. Wait, what? I thought 50 million payments were already made.

Reply to Omaha Steve (Original post)

Fri Apr 10, 2020, 07:41 PM

Apr 2020

The IRS website says something different about people who get Social Security. Baffled by the bullshit.

jimfields33

(16,018 posts)

4. This is an article from Friday

Reply to rzemanfl (Reply #1)

Fri Apr 10, 2020, 07:45 PM

Apr 2020

Holy crap I thought today was Tuesday. My weeks are a mess.

Snarkoleptic

(6,002 posts)

2. Adding clarity, these funds are not an advance against next year's tax refund.

Reply to Omaha Steve (Original post)

Fri Apr 10, 2020, 07:43 PM

Apr 2020

https://money.com/stimulus-check-advance-tax-refund/

Will this eat into my tax refund for 2020?

No. The ‘advance’ you’ve been hearing about is in reference to a special tax credit that’ll appear on the tax return you file in 2021 for the 2020 tax year — a tax credit that wouldn’t have been there if it wasn’t for these stimulus checks.

So the Internal Revenue Service isn’t giving you some of your 2020 tax refund upfront. The stimulus check will be in addition to what you would’ve otherwise expected.

Will it count towards my taxable income for 2020?

No. This money is not considered income. It won’t be taxable and it won’t affect your income tax bracket for 2020.

dweller

(23,682 posts)

3. in the near future is like 10 minutes to 10 months these days

Reply to Omaha Steve (Original post)

Fri Apr 10, 2020, 07:43 PM

Apr 2020

it's wednesday, right ?

✌🏼

rzemanfl

(29,573 posts)

11. Are they going to use Social Security direct deposit info or mail checks?

Reply to dweller (Reply #3)

Fri Apr 10, 2020, 08:54 PM

Apr 2020

This has been going around in circles for weeks. All I want is a simple declarative sentence. That appears to be impossible in Trumpist Dumbfuckistan. Does anyone even know?

dweller

(23,682 posts)

12. everything i've read says socialsecurity direct deposit

Reply to rzemanfl (Reply #11)

Fri Apr 10, 2020, 09:29 PM

Apr 2020

is all one needs .. as to when?
who knows

✌🏼

rzemanfl

(29,573 posts)

14. That's not what I have been reading, but I am baffled by the bullshit

Reply to dweller (Reply #12)

Fri Apr 10, 2020, 09:39 PM

Apr 2020

and am out of fucks to give. At least for tonight. Wait, I posted something last night. I will edit.

On edit-I cannot find it and am back to out of fucks to give.

progree

(10,924 posts)

5. Here's the IRS website for submitting your information if you didn't file taxes and don't get SS

Reply to Omaha Steve (Original post)

Fri Apr 10, 2020, 07:47 PM

Apr 2020

Last edited Fri Apr 10, 2020, 08:38 PM - Edit history (1)

payments:

IRS launches website to speed relief payments to some low-income Americans who don't file taxes, Los Angeles Times, 4/10/20

... The new site ( https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here ) -- largely targeted at low-income people, the homeless and others who it is feared may fall through the cracks in distributing the money -- is for people who: had gross income that did not exceed $12,200 for an individual or $24,400 for married couples for 2019; were not otherwise required to file a federal income tax return for 2019; and didn't plan to, the IRS said.

Using the portal, people can submit basic personal information to the IRS, including full names and Social Security numbers for themselves and any spouse or children in the home, mailing address and bank account information for direct deposit.

The portal is separate from the soon-to-be-launched “Get My Payment” portal that the IRS is creating for people who filed their taxes but did not get a tax refund through direct deposit. That portal -- which will also allow people to track the status of their payout -- is expected to be ready as soon as next week.

All U.S. residents are eligible for a payment as long as they have a work-eligible Social Security number, cannot be claimed as a dependent on another person's taxes and meet the income requirements ((i.e. if single, you don't qualify if you have an AGI greater than $99,000 and married couples if they have an AGI greater than $198,000 -- more in the article -Progree)).
More: https://news.yahoo.com/irs-launches-website-speed-relief-175525624.html

Here's general info from the IRS on the stimulus checks/deposits:

https://www.irs.gov/coronavirus/economic-impact-payment-information-center

Myth: I filed taxes but I didn't give them direct deposit information because I wasn't expecting a refund or prefer to receive a check or prefer to apply my overpayment amount to next year's taxes, so I'm not eligible, and I give up.

Fact: They say they will mail a check. There is no requirement anywhere that's I've seen at the IRS site or in many articles I've read about the stimulus checks that they have to have direct deposit information. The same goes for those who receive Social Security or Railroad Retirement benefits, and those who don't fit in any of the above categories and so will have to submit their direct deposit OR current mailing address at https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here -- "Complete your bank information (otherwise we will send you a check)."

DeminPennswoods

(15,290 posts)

6. You don't put the direct deposit info on your tax return

Reply to Omaha Steve (Original post)

Fri Apr 10, 2020, 07:52 PM

Apr 2020

unless you are due a refund. Treasury does have my info because my federal retirement is direct deposit, but if they are goind strictly off tax returns, everyone who owed/owes money is excluded.

stopbush

(24,397 posts)

8. Correct. I had a refund in 2017, so the info was there. I had to pay in 2018 and 2019,

Reply to DeminPennswoods (Reply #6)

Fri Apr 10, 2020, 08:08 PM

Apr 2020

$3 for 2019. So no info those two years.

But I do have direct deposit through SS. I have no idea when I can expect our $2400.

progree

(10,924 posts)

9. They say they will mail a check if they don't have direct deposit information

Reply to DeminPennswoods (Reply #6)

Fri Apr 10, 2020, 08:14 PM

Apr 2020

https://www.irs.gov/coronavirus/economic-impact-payment-information-center

Unfortunately they aren't clear about that in the "People who filed a tax return for 2019 or 2018" section. But there's nothing about having to have direct deposit information either.

In the "People who aren't typically required to file a tax return" section they are explicit:

Recipients will receive these payments as a direct deposit or by paper check

And for non-filers there is this information:
https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here

Complete your bank information (otherwise we will send you a check).

From many articles I've read, I've seen no requirement that they have direct deposit information, though some of the articles warn that those with direct deposit information on file will likely get their stimulus money weeks sooner than those they have to mail check out to.

Some people who receive SS or Railroad retirement benefits will get checks/deposits automatically:
https://www.irs.gov/coronavirus/economic-impact-payment-information-center

Social Security and Railroad Retirement recipients who are not typically required to file a tax return need to take no action. The IRS will use the information on the Form SSA-1099 and Form RRB-1099 to generate Economic Impact Payments of $1,200 to these individuals even if they did not file tax returns in 2018 or 2019. Recipients will receive these payments as a direct deposit or by paper check, just as they would normally receive their benefits. Social Security Disability Insurance (SSDI) recipients are also part of this group who don't need to take action.

For Social Security, Railroad retirees and SSDI who have qualifying children, they can take an additional step to receive $500 per qualifying child.

forgotmylogin

(7,539 posts)

18. Isn't Trump insisting that he personally sign each check? (n/t)

Reply to progree (Reply #9)

Sat Apr 11, 2020, 02:32 AM

Apr 2020

progree

(10,924 posts)

19. I read that he wants his signature on the checks (but I'm sure he has no ambitions to sign each one

Reply to forgotmylogin (Reply #18)

Sat Apr 11, 2020, 02:34 AM

Apr 2020

individually).

DeminPennswoods

(15,290 posts)

20. FTR, almost every federal govt program that dispenses

Reply to progree (Reply #9)

Sat Apr 11, 2020, 04:50 AM

Apr 2020

money requires a direct deposit now. I suspect what Mnuchin really meant was that if Treasury has direct deposit information on file for you either through active SSA/SSDI/RR retirement/federal employment/CSRS/FERS or payments from some other program, they will use that.

progree

(10,924 posts)

7. Hopefully it goes more smoothly than the small business loans and grants

Reply to Omaha Steve (Original post)

Fri Apr 10, 2020, 07:53 PM

Apr 2020

The below is just a small part of the beginning of this article, which covers about 3 programs that are supposed to aid small businesses

Small Businesses Wait for Cash as Disaster Loan Program Unravels, New York Times, 4/10/20

... But in the face of the pandemic, the loan program is drowning in requests. Many applicants have waited weeks for approval, with little to no information about where they stand, and others are being told they’ll get a fraction of what they expected.

The program is supposed to offer loans of up to $2 million, but many recent applicants said the SBA help line had told them that loans would be capped at $15,000 per borrower. That was backed up by a message from the agency that one applicant shared with The New York Times.

The CARES Act, the $2 trillion relief bill signed by President Donald Trump last month, also authorized the SBA to hand out the first $10,000 as a grant that didn’t have to be paid back. Those funds were supposed to be available to applicants within three days of their application, even if they weren’t approved for a loan. That hasn’t happened, according to more than 400 applicants who contacted the Times.

More, much more: https://news.yahoo.com/small-businesses-wait-cash-disaster-122752665.html

EarthFirst

(2,905 posts)

10. Ours is pending to our credit union account in New York. nt

Reply to Omaha Steve (Original post)

Fri Apr 10, 2020, 08:16 PM

Apr 2020

gldstwmn

(4,575 posts)

13. Sure. I'll believe it when it's in my

Reply to Omaha Steve (Original post)

Fri Apr 10, 2020, 09:30 PM

Apr 2020

bank account. Too little too late for many.

SergeStorms

(19,204 posts)

15. Exactly.

Reply to gldstwmn (Reply #13)

Fri Apr 10, 2020, 09:52 PM

Apr 2020

For many it will be like someone throwing them a life-preserver after they've already drowned. And Donald Trump will be puffing out his chest and crowing about how he almost saved those people.

orangecrush

(19,645 posts)

16. Same here.

Reply to gldstwmn (Reply #13)

Fri Apr 10, 2020, 09:56 PM

Apr 2020

They lie about everything else.

RussBLib

(9,044 posts)

17. They had better

Reply to Omaha Steve (Original post)

Fri Apr 10, 2020, 11:49 PM

Apr 2020

But I cannot expect any part of the government to function properly under Trump. He has decimated many pieces of the governmemt.

Republicans must be happy. They have shrunk govt down to a small size, so all we get is incompetance.

Yea, Trump.

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