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fredwiggy

Americans, Have You Received Your Virus Stimulus Check From Trump Yet?

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I see that the american government is saying they might issue a check to americans to help with this crisis.It says retired also. Since we in Thailand,retired, are also up against this crisis, what's the thoughts regarding us receiving a check also,through our SS payments?

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Posted (edited)

Do you still have a US address and are paying taxes?  If so, yes if you qualify within the income limits.

As far as thru SS, I doubt it probably a seperate check.

Edited by bkk6060
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I've been following this closely. I could really use the cash. I'm a teacher and was supposed to have work over the holiday, but summer school was canceled.

 

It's going to a vote tomorrow. Last I heard, the first payments of up to either $1000 or $1200 could go out April 6. There might be a second payment in May, depending on how things go. It's mostly tied to your 2018 taxes. Good thing I did them, and declared my foreign income here.

 

Looks like they're trying to squeeze in Social Security recipients as well: https://www.cnbc.com/2020/03/20/coronavirus-rescue-checks-may-shortchange-americans-on-social-security.html

 

Keep an eye on the news tomorrow. Hang in there man.

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We'll have to wait and see. Medicare is useless here.

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There also was reporting in the past few days (dunno if things have changed since then) about the plan involving no money going to people who haven't filed federal tax returns because of being under the tax filing income threshold, and then whatever payment is settled upon being phased out for higher income earners, something like a lesser amount for $75K and above and nothing for $99K and above annual income. But the last I read on that was a couple days ago.

 

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I filed jointly with my wife, and between the two of us we are above the 

 $75 k 1018 income . It that income requirement  per person or per household?  

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Retired,living in Thailand,haven't paid taxes since last year living in USA,2018

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As a very general rule of thumb, if your only income is from Social Security benefits, they won't be taxable, and you don't need to file a return. But if you have income from other sources as well, there may be taxes on the total amount. Supposedly ,most should get it,even the unemployed and retired,who don't file taxes. I guess time will tell. Everyone's affected by this disease,including US citizens living here.

Edited by fredwiggy
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I understand there need to be some income requirements so that those who don't need it get it. but how about some regional adjustments,

Making  75K  might be a lot of money in Kansas but it is not in NYC.

 

 

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I think this approach is a mistake. The Fed should be sending money to the States to increase and extend unemployment insurance. At this point in the game, we need to help the people losing their jobs to not lose their homes. Down the road is the time to start with stimulus packages. Trying to stimulate the economy right now is like pushing on a string.

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1 hour ago, ChouDoufu said:

how's that $1000 gonna stimulate the american economy if we spend it in thailand?

Stimulating the US economy is only one reason.  Other reasons exist such as to provide additional money regardless of where you live since corona virus is pretty much impacting US citizens regardless of where they live in the world....and it's election year when politicians love to throw money for your vote.

 

The latest I'm read is instead of two $1000 payments over two months it would instead be one payment for $1000-1200 plus $500 for each dependent with variations if you are filing federal tax return as single or joint return.....and also a major expansion of unemployment benefits.  Also more money being spent in a variety of small business & individual safety net programs with the final bill being around $1.2 trillion.  Time will tell....we should know by around Monday or Tuesday US time.

 

https://thehill.com/homenews/senate/488774-senate-negotiators-near-agreement-on-keeping-rebates-in-coronavirus-stimulus

Quote

The emerging deal being hammered out by Senate negotiators would provide one round of $1,000 checks to eligible adults at a cost of approximately $250 billion and match that with a similarly costly expansion of unemployment benefits — in the ballpark of $250 billion, according to two sources familiar with the talks. 

 

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13 hours ago, fredwiggy said:

As a very general rule of thumb, if your only income is from Social Security benefits, they won't be taxable, and you don't need to file a return. But if you have income from other sources as well, there may be taxes on the total amount. Supposedly ,most should get it,even the unemployed and retired,who don't file taxes. I guess time will tell. Everyone's affected by this disease,including US citizens living here.

It really is not true that if SSA is your only income you don't have to file.  SSA benefits are taxable if you receive more than 25,000. Now granted many people's SSA benefit is less than that, but above 25,000 ssa becomes taxable so you would have to file to sort things out.  And you would want to file if over 65 because you get some extra standard deduction, etc.

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12 hours ago, Pib said:

Stimulating the US economy is only one reason.  Other reasons exist such as to provide additional money regardless of where you live since corona virus is pretty much impacting US citizens regardless of where they live in the world....and it's election year when politicians love to throw money for your vote.

 

The latest I'm read is instead of two $1000 payments over two months it would instead be one payment for $1000-1200 plus $500 for each dependent with variations if you are filing federal tax return as single or joint return.....and also a major expansion of unemployment benefits.  Also more money being spent in a variety of small business & individual safety net programs with the final bill being around $1.2 trillion.  Time will tell....we should know by around Monday or Tuesday US time.

 

https://thehill.com/homenews/senate/488774-senate-negotiators-near-agreement-on-keeping-rebates-in-coronavirus-stimulus

 

I also read that "a person would have a choice to use their 2018 or 2019 tax numbers.  How that option would be asked for or submitted I have no idea.  Nothing spelled out if they would issue paper checks mailed to   (your last address on file with the IRS 1040? as a guess) or would it be direct deposited?  Seems like some sort of correspondence or communication may be needed.  Also there were no details on people that may now be retired or making the same or less money and how to handle that if that is to be addressed at all?

 

  I apparently will not be eligible as my income the last two years exceeded the limits.  That's OK.  I put money away for a rainy day and was ready to retire anyway.  Got lucky I took this contract job with a L3Harris and am working and getting paid a ton.  I was prepared to go to Thailand for a 90 day vacation in Thailand right after New Year but took this gig.  Sadly it is in New Jersey and it is getting crazy here just a few miles west of New York city.  But things will pass, I should be able to cash up a lot in the next few months and will see what shakes out after that. 

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