STIMULUS UPDATE

[Toyman]

My CPA send me this info for me this info from IRS showing mailing times for checks:
This is for those who did not have direct deposit info on file.

 

[Peak53]

Mine came pretty early on the list. Is that good or bad?

 

[zogger]

Thanks!I was wondering why some of friends had got checks when they did.

 

[Onomea]

Just received, forwarded from my Japan address, a fellow American letter from POTUS letting me know that I am “receiving an Economic Impact Payment” by “check/debit card.”

However, no check or debit card in the envelope....

That normal? Should I expect another letter with the payment? Or did my rich uncle neglect to put it in the envelope?

 

[Toolguy]

Those are 2 separate mailings. I got my check, then 2 weeks later got a letter to let me know I got it.

 

[delcrossv]

So this is ANOTHER one?

 

[df06]

I wonder how many multiples of these will come to us in tax increases. There ain’t no free money.

 

[Onomea]

So this is ANOTHER one?

I’m talking about the one and only, in so far as I know.

 

[Marshwheeling]

I would imagine it will all have to be reported as income, along with any unemployment benefits if you got laid off, plus the extra $600/month spiff that lets you make more unemployed than you did working. It’s not being withheld for, so you probably ought to lay something aside for next year’s tax bill.

 

[Rob613]

Stimulus is not taxable income, it’s essentially a tax credit.

Unemployment is taxable income and if people chose not to have taxes taken out up front, they could owe quite a bit come tax time next year.

There was only one stimulus check so far, the payments mostly beat the letters getting to people.