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US Approved Corvid Stimulus Package- Where's The Money


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If you have not heard for Americans, the money(stimulus checks/deposit) for the Corvid-19 problems has been approved 

by Congress. If you are retired and getting Soc. Security, you should see some money soon! $1200 for yourself and another $1200 for the wife if she has a SSN #. Also $500 per child under 17. I wanted to list it here to track when and if we receive it here in the Phils.  It is estimated to be sent direct deposit around Apr 6. If the IRS has your bank info from 2018/2019 tax filings or from your SSA 1099 retirement, it should show in your bank acct then.

I don't know about you, but an extra $2400 would do me fine. I would probably have to use most for BI for late visa extension here when the quarantine passes here in PI.

There is still time to file an online 2019 tax form if you haven't filed yet! Its important that IRS see not only you, but wife and child are claimed. I don't think they will see wife/child just from your SSA1099 statement.

I tried earlier to file online with TurboTax but if you are just getting Social Security benefits and nothing else, the program fails and you have to file a paper form( takes too much time/expense). Normally just getting SS, there is no need to file taxes statement, you don't make enough. Problem with the online and windows version is looking for an AGI that is not zero. If you just say you won a lottery for lets say $50, the is not an AGI that is not blank or zero, the program works and you still won't pay additional taxes. So important you get your taxes done like right now online or else you may not get all the amount due (for wife/child). Like I said, IRS will be sending it out in about 3 weeks!

https://us.yahoo.com/finance/m/ec206692-1c6e-3743-864b-be999b7897dd/i’m-retired-and-claim-social.html

 

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Different countries are doing different things... Australia has chosen to double the amount of the unemployment benefit (yes a 100% increase, reduce to the waiting period to 1 week, remove the asset t

3 pm Just pulled the first P 20k Stimulus check money via ATM out of my account. Ronald Reagan's name was printed on the receipt. 

If you have not heard for Americans, the money(stimulus checks/deposit) for the Corvid-19 problems has been approved  by Congress. If you are retired and getting Soc. Security, you should see som

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 I think there's a flaw in the qualification for the payments, they are going to use 2019 tax returns which is income for 2018, what if a single person was making more than 75k in 2018 but lost his job or retired at a much lower rate, in this case they wouldn't qualify for the full amount or wouldn't get anything at all if they made over 99k, is there something wrong with my logic here.

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I would not be surprised is expats are excluded from those payments.

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Just my opinion - which is worthless today - but I think it will be okay if you have a USA address. At least I hope that will be the case for me...

I guess we will all find out within a few weeks?

Edited by Tommy T.
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43 minutes ago, Tommy T. said:

Just my opinion - which is worthless today - but I think it will be okay if you have a USA address. At least I hope that will be the case for me...

I guess we will all find out within a few weeks?

I don't know with all the research I did TT.  I had on my tax return my PI address. The same with Soc Sec. Nothing said in the articles I read contradicted where you live. Just the requirements of being a US citizen or green card holder. I did find that the child needs to be under 17 and have a SSN. By using logic ( Gov. logical?) then you couldn't get your Soc Security benefits if you lived outside of the States. So I hope that isn't the case else we will all be missing some $dollars! If and when they send the funds will be by direct deposit by info from IRS/Soc Sec. If they don't have that info, then they will mail checks to the last known address, and you would have to wait about 4 months.

The IRS is to send a letter to tell you how the money was sent, and where to call if you don't get it! And if you don't get the money at all, then you can claim the credit on your Tax return for 2020. So I hope you are not right TT. Not to argue with you, but I would really like to see the funds soon!

 

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1 hour ago, Mike J said:

I would not be surprised is expats are excluded from those payments.

No.  I pay taxes the same as if I lived in the U.S.  I even pay taxes on 85% of my SS.

1 hour ago, Tommy T. said:

Just my opinion - which is worthless today - but I think it will be okay if you have a USA address. At least I hope that will be the case for me...

I guess we will all find out within a few weeks?

Bank account would be better.  As Rod said, either bank account used for taxes or bank account used for SS payments.  In my case, they are the same, but I have not received a refund in a few years.  My addresses for both are my PH address but my bank account is U.S.

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3 hours ago, roddavis said:

I would probably have to use most for BI for late visa extension here when the quarantine passes here in PI.

You must have a very expensive visa!  There are no penalties as long as you update within 30 days of the quarantine lifting.

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The IRS has no specific information about the payments yet, so anything you read is premature with a bit of speculation mixed in.  It may end up being accurate but I would wait for official info from the IRS.  I'll be that they have more detail this week.

https://www.irs.gov/coronavirus

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From the Chicago Tribune:

https://www.chicagotribune.com/coronavirus/ct-nw-coronavirus-stimulus-checks-benefits-20200327-cdujip744rfihiqnnvkvybiqwe-story.html

 

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What do I have to do to get one?

For most people, nothing. The U.S. Treasury will direct deposit the money in your bank if they have that information from this year’s tax return or last year’s. For everyone else, they will mail a check. If you didn’t file a tax return for either 2018 or 2019, your check could be delayed. The government can use your Social Security benefit statement as well.

When will I get the payment?

Treasury Secretary Steven Mnuchin has said repeatedly that it should arrive in three weeks. Even if it arrives electronically, you should receive a written notice within 15 days after the payment that specifies how much you received and how it was delivered.

 

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32 minutes ago, OnMyWay said:

You must have a very expensive visa!  There are no penalties as long as you update within 30 days of the quarantine lifting.

OMW, it will be cuz my 3 years up in Apr and have to make a BI run with wife/son and come back in Balikbayan!

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