What WILL/DID you do with that stimulus check? (Round 2)

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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by aikorob » Mon Sep 21, 2020 8:43 am

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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by RoneKiln » Tue Dec 22, 2020 12:42 am

If I read the news correctly, the new stimulus bill just passed with $600 being paid out to most people.

I think the income cutoff is based on taxable income. If that's correct, I qualify and I'll be putting it all into my retirement account to help offset the inflation coming on the heels of these bills.
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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by PistolPete » Tue Dec 22, 2020 11:54 am

RoneKiln wrote:
Tue Dec 22, 2020 12:42 am
I think the income cutoff is based on taxable income. If that's correct, I qualify and I'll be putting it all into my retirement account to help offset the inflation coming on the heels of these bills.
Yeah, all the spending this year guarantees significant inflation moving forward. I'll be using my check to dry the tears I'll have from seeing everything increase in price 50% over the next 18 months.
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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by tony d tiger » Tue Dec 22, 2020 1:02 pm

RoneKiln wrote:
Tue Dec 22, 2020 12:42 am
If I read the news correctly, the new stimulus bill just passed with $600 being paid out to most people.

I think the income cutoff is based on taxable income. If that's correct, I qualify and I'll be putting it all into my retirement account to help offset the inflation coming on the heels of these bills.
Yeah, I think this go 'round is slightly different from the first in that income ceiling - and that's a good thing. I hope Congress also was a little more discerning in who is "sent a check" this time, too. :roll: let's keep it to U.S. citizens please.

Nobody has said if the GOV will also provide 2020 W-2's for this added income - I assume it is taxable? :twisted:
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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by tony d tiger » Tue Dec 22, 2020 1:03 pm

PistolPete wrote:
Tue Dec 22, 2020 11:54 am
RoneKiln wrote:
Tue Dec 22, 2020 12:42 am
I think the income cutoff is based on taxable income. If that's correct, I qualify and I'll be putting it all into my retirement account to help offset the inflation coming on the heels of these bills.
Yeah, all the spending this year guarantees significant inflation moving forward. I'll be using my check to dry the tears I'll have from seeing everything increase in price 50% over the next 18 months.
Already seeing that in dairy products. :words:
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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by NT2C » Tue Dec 22, 2020 1:22 pm

tony d tiger wrote:
Tue Dec 22, 2020 1:02 pm
Nobody has said if the GOV will also provide 2020 W-2's for this added income - I assume it is taxable? :twisted:
My understanding is that this is considered a tax credit, but what do I know? I'm sure not any kind of expert on this stuff.

I found this out when my wife told me that we only got her stimulus last time*, not mine, and I went looking for info on how to get mine. Googling the issue got me the info to just claim the credit on our 2021 return as these are tax credits.

(*she told me months afterward)
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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by tony d tiger » Tue Dec 22, 2020 3:29 pm

NT2C wrote:
Tue Dec 22, 2020 1:22 pm
tony d tiger wrote:
Tue Dec 22, 2020 1:02 pm
Nobody has said if the GOV will also provide 2020 W-2's for this added income - I assume it is taxable? :twisted:
My understanding is that this is considered a tax credit, but what do I know? I'm sure not any kind of expert on this stuff.

I found this out when my wife told me that we only got her stimulus last time*, not mine, and I went looking for info on how to get mine. Googling the issue got me the info to just claim the credit on our 2021 return as these are tax credits.

(*she told me months afterward)
Good to know. Last go 'round I asked the daughter if she got a check, and she answered negative... so maybe she can pick it up on the flipside. :words:
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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by NT2C » Tue Dec 22, 2020 4:21 pm

tony d tiger wrote:
Tue Dec 22, 2020 3:29 pm
NT2C wrote:
Tue Dec 22, 2020 1:22 pm
tony d tiger wrote:
Tue Dec 22, 2020 1:02 pm
Nobody has said if the GOV will also provide 2020 W-2's for this added income - I assume it is taxable? :twisted:
My understanding is that this is considered a tax credit, but what do I know? I'm sure not any kind of expert on this stuff.

I found this out when my wife told me that we only got her stimulus last time*, not mine, and I went looking for info on how to get mine. Googling the issue got me the info to just claim the credit on our 2021 return as these are tax credits.

(*she told me months afterward)
Good to know. Last go 'round I asked the daughter if she got a check, and she answered negative... so maybe she can pick it up on the flipside. :words:
Please encourage her to Google it and see what the .gov sites say. With my memory these days I could be seriously mistaken.

(My wife and I just had an argument about the roof on her mom's house that I distinctly remember about 6-7 years ago being told they were having a new roof put on. They asked me about when I inspected the old one in '07, talked about a leak in the roof over the bathroom that caused the ceiling to need replacement, and wanted to know if the price they paid was fair. My wife says she has no recollection of that conversation and then called her mom who confirmed the last roof put on the house was in '93. Yeah, either I'm losing it or I slipped into a parallel universe. Again.) :?
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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by Albert » Tue Dec 22, 2020 8:12 pm

There may not be a second round. According to the reports I've seen, the president just vetoed the bill.

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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by boskone » Tue Dec 22, 2020 9:08 pm

Albert wrote:
Tue Dec 22, 2020 8:12 pm
There may not be a second round. According to the reports I've seen, the president just vetoed the bill.
I can't find anything yet saying he has, but he's threatened to unless the checks are increased.

Got a link?

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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by tony d tiger » Tue Dec 22, 2020 11:41 pm

boskone wrote:
Tue Dec 22, 2020 9:08 pm
Albert wrote:
Tue Dec 22, 2020 8:12 pm
There may not be a second round. According to the reports I've seen, the president just vetoed the bill.
I can't find anything yet saying he has, but he's threatened to unless the checks are increased.

Got a link?
You are correct, and the newsies are still swirling the story. :words:

Standby to stand by... :mrgreen:
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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by boskone » Wed Dec 23, 2020 5:14 pm

tony d tiger wrote:
Tue Dec 22, 2020 11:41 pm
boskone wrote:
Tue Dec 22, 2020 9:08 pm
Albert wrote:
Tue Dec 22, 2020 8:12 pm
There may not be a second round. According to the reports I've seen, the president just vetoed the bill.
I can't find anything yet saying he has, but he's threatened to unless the checks are increased.

Got a link?
You are correct, and the newsies are still swirling the story. :words:

Standby to stand by... :mrgreen:
Apparently he did veto the Defense spending bill for not vetoing Section 230. Still haven't seen anything about actually vetoing the stimulus, though, just bluster.

Seems that there's a veto-proof majority in both houses for both bills.

Guess we'll see who does what.

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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by tony d tiger » Wed Dec 23, 2020 7:43 pm

boskone wrote:
Wed Dec 23, 2020 5:14 pm
tony d tiger wrote:
Tue Dec 22, 2020 11:41 pm
boskone wrote:
Tue Dec 22, 2020 9:08 pm
Albert wrote:
Tue Dec 22, 2020 8:12 pm
There may not be a second round. According to the reports I've seen, the president just vetoed the bill.
I can't find anything yet saying he has, but he's threatened to unless the checks are increased.

Got a link?
You are correct, and the newsies are still swirling the story. :words:

Standby to stand by... :mrgreen:
Apparently he did veto the Defense spending bill for not vetoing Section 230. Still haven't seen anything about actually vetoing the stimulus, though, just bluster.

Seems that there's a veto-proof majority in both houses for both bills.

Guess we'll see who does what.
:roll: that was yesterday... :mrgreen: the veto you reference was today.
:words:
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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by Challenger007 » Sat Jan 16, 2021 8:31 am

boskone wrote:
Wed Dec 23, 2020 5:14 pm
tony d tiger wrote:
Tue Dec 22, 2020 11:41 pm
boskone wrote:
Tue Dec 22, 2020 9:08 pm
Albert wrote:
Tue Dec 22, 2020 8:12 pm
There may not be a second round. According to the reports I've seen, the president just vetoed the bill.
I can't find anything yet saying he has, but he's threatened to unless the checks are increased.

Got a link?
You are correct, and the newsies are still swirling the story. :words:

Standby to stand by... :mrgreen:
Apparently he did veto the Defense spending bill for not vetoing Section 230. Still haven't seen anything about actually vetoing the stimulus, though, just bluster.

Seems that there's a veto-proof majority in both houses for both bills.

Guess we'll see who does what.
It seems to me that in 2021 it is a mystery and an incomprehensible story to guess which bills are being adopted for what purpose and how this will turn out in the foreseeable future. To be honest, I tried to understand what and why - I never managed to guess. Although I am not an expert in politics, economics and international relations.

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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by CrossCut » Sun Jan 17, 2021 12:26 pm

The Mrs and I decided to take 1/2 of this last stimulus round and get whatever we wanted, the other 1/2 and any new stimulus money this year will go on the down payment for her new light-duty truck we'll buy in Sept or Oct. If we can get 0 percent financing on it however that may change.

That I'd spend mine on something preparedness related was a gimme and the wife new it, but since it's "free" ( :roll: ) money, I immediately went to my "Wish List of Preparedness Shit I Want But Can't Really Justify And That Ain't Worth Arguing With Her About", and decided on a MFJ Automatic Antenna Tuner.

The Gen II+ NV scope and a P25 phase II capable radio scanner will have to wait for the 2022/2023 stimulus checks I guess...

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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by Lettuce Pray » Fri Jan 29, 2021 12:47 pm

We wound up buying new (to us) bedroom furniture with most of it. Because it was gently used we saved about $500 on the purchase.

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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by raptor2 » Fri Jan 29, 2021 1:01 pm

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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by NT2C » Fri Jan 29, 2021 2:03 pm

Only got 1/2 of round one and none of round two. :(
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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by raptor2 » Fri Jan 29, 2021 3:28 pm

NT2C wrote:
Fri Jan 29, 2021 2:03 pm
Only got 1/2 of round one and none of round two. :(
If you did not get the full amount for 2020 look for this on your 2020 tax return.
https://www.irs.gov/newsroom/recovery-rebate-credit
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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by woodsghost » Fri Jan 29, 2021 4:20 pm

So....round 2 happened? I should probably check the bank.
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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by 12_Gauge_Chimp » Fri Jan 29, 2021 4:51 pm

woodsghost wrote:
Fri Jan 29, 2021 4:20 pm
So....round 2 happened? I should probably check the bank.
I'm still waiting on my $600 check (I get the paper check since I don't have a bank account anymore. Had one years ago, but it got closed due to inactivity. Which is fair. I mostly use cash these days anyway.), which was supposed to be here either Wednesday or today.

But it's not so I get to check on it via the .Gov website. Wouldn't surprise me if I end up not getting it.

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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by raptor2 » Fri Jan 29, 2021 5:05 pm

woodsghost wrote:
Fri Jan 29, 2021 4:20 pm
So....round 2 happened? I should probably check the bank.
Yes round 2 hit around Jan 15 2021 with $600 per person via EFT.

https://www.cnet.com/personal-finance/s ... ird-check/
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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by MacWa77ace » Fri Jan 29, 2021 5:09 pm

Since it was half the first amount, and I'm trying to reach a certain level of liquid 'emergency reserves', it got mixed in with that; sort of like adding a quart of water to a gallon of water in a 5 gallon container. If I didn't see it happen I wouldn't have noticed anything. That's where the first round went too.

I got the second round before I was even sure it was signed and a done deal. Jan 4th 2021. :oh:
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Re: What WILL/DID you do with that stimulus check? (Round 2)

Post by boskone » Fri Jan 29, 2021 6:31 pm

MacWa77ace wrote:
Fri Jan 29, 2021 5:09 pm
Since it was half the first amount, and I'm trying to reach a certain level of liquid 'emergency reserves'
Just a suggestion, but make sure you have a good bit of small cash.

A lot of places won't take fifties or hundreds anymore anyway, and in a disaster might not be able to break twenties or even tens.

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