Will I get paid 100% of my salary from stimulus bill?

cnc

Mon, Mar 30 2020, 2:26 pm

Stimulus is a set amount for under a certain income
$1200 if filing as single
$2400 if filing jointly
$500 for each additional child

amother

cornflower

Mon, Mar 30 2020, 2:30 pm

cnc wrote:

Stimulus is a set amount for under a certain income
$1200 if filing as single
$2400 if filing jointly
$500 for each additional child

What about unemployment?

amother

Pink

Mon, Mar 30 2020, 3:08 pm

I just skimmed it, my husband is now out of work and I make bubkus (hooray! In healthcare-put myself and family at risk everyday but can't pay rent on my salary)

My husband did reasonably well last year. Does this mean we don't get anything?

amother

Cyan

Mon, Mar 30 2020, 3:10 pm

amother [ Pink ] wrote:

Your husband's UI claim is separate from the stimulus payment.

glowing1

Mon, Mar 30 2020, 3:15 pm

Can someone tell me how to apply? I thought maybe this is automatic, as I file taxes..? And what is the stimulus bill exactly? Besides for the set amount, can it help with lost income? Please excuse my ignorance TMI

amother

Cyan

Mon, Mar 30 2020, 3:24 pm

glowing1 wrote:

The stimulus payment is automatic.

If you are looking to make a claim for UI - apply through your state.

icedcoffee

Mon, Mar 30 2020, 3:29 pm

The stimulus money is direct deposited automatically based on your 2019 or 2018 tax returns (depending if/when you filed). If you're an individual making $75k or less, you get $1200. If you make between 75k-99k, you get slightly less based on your income. If you make more than 99k as an individual, you don't receive anything. The numbers are doubled if you're a married couple (so if your household makes 150k or less, you get $2400).

Unemployment is a separate thing.

Edit - forgot to mention like someone pointed out below, # of children are factored in as well. There's plenty of online calculators you can use to see exactly how much you'll get, just google it if you're not sure.

Last edited by icedcoffee on Mon, Mar 30 2020, 3:47 pm; edited 1 time in total

amother

cornflower

Mon, Mar 30 2020, 3:31 pm

amother [ Pink ] wrote:

It will be based on 2020 salary. If you make more next year someone may need to pay back. If make less can get later - but that doesn’t help now.
Also if someone makes above maximum will take into account number of children so can make more.

amother

cornflower

Mon, Mar 30 2020, 3:31 pm

icedcoffee wrote:

Number of children allow you to make more

amother

Vermilion

Mon, Mar 30 2020, 3:43 pm

amother [ cornflower ] wrote:

Why do people ask imamother important questions. Google or ask your accountant if you don't want gibberish. It's doesn't make sense it would be based on 2020 returns which would mean you would be getting the checks after the year is closed out.

It's based on your 2019 salary with the extended time to file. If you don't file it's 2018.

cnc

Mon, Mar 30 2020, 3:50 pm

amother [ Vermilion ] wrote:

The PP is correct .
It does say that it’s considered an advance on your 2020 refund , the question is whether they’ll ask for money back if people end up making more than what qualifies.

Read here to understand it better .

https://www.dansdeals.com/more.....will/

amother

Cyan

Mon, Mar 30 2020, 3:56 pm

cnc wrote:

Its an advance on a refundable tax credit which will be on the 2020 tax return.