Current Events > I'm very surprised that households making $150,000 qualified for $2,400.

(+) Yeah! (+)

$150k is a lot of money to make. Very surprised that a couple making $150k still qualified for the $2,400 bonus. I wonder if the 2nd round of checks will be that generous, or will it lower the income limit.

That's 75k per adult. Which is decent but it's not exacly a lot either

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dr_strangelove posted...

can you source this?

.........rusrs?

The bill would provide a $1,200 refundable tax credit for individuals ($2,400 for joint taxpayers). Additionally, taxpayers with children will receive a flat $500 for each child. The rebates would not be counted as taxable income for recipients, as the rebate is a credit against tax liability and is refundable for taxpayers with no tax liability to offset. The rebate phases out at $75,000 for singles, $112,500 for heads of household, and $150,000 for joint taxpayers at 5 percent per dollar of qualified income, or $50 per $1,000 earned. It phases out entirely at $99,000 for single taxpayers with no children and $198,000 for joint taxpayers with no children (see Chart 1).

https://taxfoundation.org/cares-act-senate-coronavirus-bill-economic-relief-plan/

dr_strangelove posted...

can you source this?

the first stimulus check google it

my household income is greater than $150k and we receiving the $2.4k stimulus check, we ended up putting it towards income tax that we owed lol

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Solid Snake07 posted...

That's 75k per adult. Which is decent but it's not exacly a lot either

Mitch McConnell implied that it should be $40k household income that should apply for the 2nd round of checks. So $150k household is ridiculously high.

A Federal Reserve study published in May found that 40% of households earning under $40,000 a year had lost a job in March.

"I think the people who have been hit the hardest are people who make about $40,000 a year or less," McConnell said."

https://www.businessinsider.com/mcconnell-opens-door-second-stimulus-check-americans-economy-coronavirus-payments-2020-7

They deserve it!!

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Romulox28 posted...

my household income is greater than $150k and we receiving the $2.4k stimulus check, we ended up putting it towards income tax that we owed lol

It's based off your last filed taxes. And if this year you made more, I think you have to pay it back.

Will I get 1200 as a 24 year old who filed as a dependent or?

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Extreme_light posted...

Will I get 1200 as a 24 year old who filed as a dependent or?

If you were filed as a dependent on someone else's taxes, you will not get $1200.

Also, how did you not find this out until now? It's been several months since the checks started to go out.

Romulox28 posted...

my household income is greater than $150k and we receiving the $2.4k stimulus check, we ended up putting it towards income tax that we owed lol

Oh wait, I completely forgot that it's $75k/$150k adjusted gross income, so you can make like $100k/$180k and still get the full $1200/$2400 amount.

dr_strangelove posted...

i guess i was ignorant- i didnt know my household qualified . i dont think everyone who qualifies actually seeks the stimulus.

Doesn't matter if you seek it or not; it's automatic.

FunnyPies posted...

If you were filed as a dependent on someone else's taxes, you will not get $1200.

Also, how did you not find this out until now? It's been several months since the checks started to go out.

Oh I thought we were talking about a new bill. Why we talking about this old thing?

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FunnyPies posted...

Mitch McConnell implied that it should be $40k household income that should apply for the 2nd round of checks.

That better be fucking net

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Extreme_light posted...

Oh I thought we were talking about a new bill. Why we talking about this old thing?

Because there are finally concrete rumors about another one.

FunnyPies posted...

Mitch McConnell implied that it should be $40k household income that should apply for the 2nd round of checks. So $150k household is ridiculously high.

https://www.businessinsider.com/mcconnell-opens-door-second-stimulus-check-americans-economy-coronavirus-payments-2020-7

Bro, 20k a year is damn near the poverty line almost everywhere in this country. And if you just want to help those people then extend the unemployment benefits.

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Solid Snake07 posted...

Bro, 20k a year is damn near the poverty line almost everywhere in this country. And if you just want to help those people then extend the unemployment benefits.

Fuck that, give essential workers their needed benefits first

Tryhaptaward posted...

Fuck that, give essential workers their needed benefits first

Nurses and truck drivers are sure as shit making more than 20k a year

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