Social Security recipients not eligible for Corona Virus Stimulus payments?

Prepper

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How does the 75k limit work? I realize it is per person, but how exactly? My wife and I file jointly. What if I earn over 75k and she earns less than 75k? Does she get it and I don't? Or, do they take our combined pay and cut us off if it is over 150k?
 

Mark from MA

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How does the 75k limit work? I realize it is per person, but how exactly? My wife and I file jointly. What if I earn over 75k and she earns less than 75k? Does she get it and I don't? Or, do they take our combined pay and cut us off if it is over 150k?
There is no 75k limit if you file jointly

Married Filing Jointly is full payment 1200 each up to 150k adjusted Gross. You both get it regardless if one makes 10k and the other makes 140k. This is Reduced to zero at 198k AGI On a Joint File.
 

enbloc

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If Seniors already need it, why are you waiting for this tragedy to get them money?????

...We need to separate our "feelings" for select groups of people
Hey, I got 'feelz'.
Nothing I can do about it.
I see the down-trodden and elderly who are truly in need of a hand up and I feel for them and help when I can.
No bleeding-heart Liberal here, but I Do Have Heart.
Too old to change my "spots" now...

Your Comment is truly valid IMO
 

Wickedcoolname

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I'm retired, but not yet on SS. I'd rather my check (if I ever got one) go to those who really need it... families, Veterans and Seniors.
Me too. I'm doing alright and the Chinese plague hasn't cost me a dime. If I get a check, (I'm pretty sure I'm not eligible) I'll give it to the veterans group that helped my dad.
 

enbloc

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Yeah, this is a shitshow. No one will be happy with any of it. That I know for sure...
 
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How does the 75k limit work? I realize it is per person, but how exactly? My wife and I file jointly. What if I earn over 75k and she earns less than 75k? Does she get it and I don't? Or, do they take our combined pay and cut us off if it is over 150k?
Last iteration I read was $2400 for married couples, minus $100 for every $1000 earned above $150k (adjusted gross income - I.E. not gross income at all so why say it?).

So earn $151k, you get $2300... $152k, get $2200... $153k, get $2100... etc.

Not sure if that's still the plan in the most recent iteration of the bill, however.


Can't wait to see how much more of MY money the government takes for the next decade to make up for whatever bit of MY money they send back to me this month...
 

Prepper

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There is no 75k limit if you file jointly

Married Filing Jointly is full payment 1200 each up to 150k adjusted Gross. You both get it regardless if one makes 10k and the other makes 140k. This is Reduced to zero at 198k AGI On a Joint File.
OH, it is adjusted gross income, not before tax?
 

JayMcB

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I never heard of a social security recipient losing their income by way of a recession or job loss.... But if anyone has an example I would be most interested in reading about them.
Many retirees on SS also continue to work. My brother-in-law got on SS at 62 and still works about 15-20 hours a week. Laid off. Will not be able to make his rent without the paycheck. Already has his hand out. Somehow managed to blow his tax return less than 4 weeks ago.
 

blindfire

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I heard this from a friend today, but can't find anything on the net so far to verify if it is true or not..

In my case, I could care less. I don't file taxes, so I didn't expect I would receiving anything
anyway. But a lot of the retired folks around me are asking me if I know anything about it.

I could care less, because now that I am on VA Healthcare I get free medications every month that
would cost me $700 a month if I had to pay them out of pocket.

It will be interesting to see who does get that money and who doesn't. I highly doubt that a lot of
section 8 and EBT recipients file taxes either.

I also think their will be a lot of cases of abuse, like fake tax returns, etc.
Well, I make too much money to get me some Trump Bucks.
 

Uzi2

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This is NOT STIMULOUS MONEY

IT IS COMPENSATION MONEY

AND THERE IS A DIFFERENCE.
 

enbloc

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I'm not saying it is... I never said that. What I DID SAY was that it's guaranteed income... Which it very much is.
I said that. It was my opinion and not focused on your post at all. Just a general statement...

Yeah, From what I can tell Social Security ain't the "lap-of-luxury"...
 
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vicorjh

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Here is what the Washington Post is saying about SS recipients receiving the stimulus money:

What about people on Social Security? People on Social Security are eligible to receive the coronavirus relief payment as long as their total income does not exceed the limit. Low-income Americans on Social Security do not need to file a tax return. As long as they received an SSA-1099 form (the Social Security benefit statement), the federal government will be able to send them a payment via the usual way they get their Social Security payment. Retirees and people on disability are both eligible for the special payment.

Did not fact check this.
 

Woodstock

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So if an "undocumented" individual used your Social Security number last year to file taxes, he/she will be getting a check this year from the bailout? Asking for a friend.
 
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If they use TY 2018 as a basis I am OK, if they use TY2019 (we have not filed yet) I am FUBAR'd as we were well over the phase amount out for couples

All it is going to do for me if I get it is let me hand it right back to them as I have about a $5300 Federal tax liability for TY 2019... so it is $1900 of mine and $2400 of my money they are giving back to me so I can give it back to them....
If you haven't filed 2019, they will go based off the 2018 return. I'm in the same boat as you. I'll be filling 2019s return on the July 14th deadline.

How does the 75k limit work? I realize it is per person, but how exactly? My wife and I file jointly. What if I earn over 75k and she earns less than 75k? Does she get it and I don't? Or, do they take our combined pay and cut us off if it is over 150k?
Line 8b on your 1040 will be your AGI for 2019.

On the 2018 return 1040 form, you want to look at line 10.
 

TZCHRIS

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I don't need or want govt handouts and hope they go to seniors on SS or disabled etc that could really use the money. That said, it is going to be painful watching all of the distinguished Brocktonites buying large screen tv's with their Trump Bux....
And then asking for more next month..........
Because that TV needs cable!
 

SERE

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I'm still trying to figure out why ANYONE is getting this $.
A day late on the reply. How else is the .gov going to get $35M for the Kennedy Center and other such pork that is in this bill? They have to attach it to something ' the People want'. The bigger the Bill the more pork they can add.
 

Yosemite Sam

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oh yes, this is free money
if it's free, it’s for me, gimme three....

we have to pay down the national debt
us, the friggn working class

thers no such thing as a free lunch. We gonna pay and pay
 

powerman

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Same here.

We are taking a 20 percent hit on income temporarily and wont be Eligible for shit as usual.

But since we are responsible, live frugally well below our income level and have an emergency fund.
It really doesnt matter.

Ive had people tell me im “Lucky”
to have an emergency fund. The same people telling me that are driving 40k dollar vehicles, living in McMansions, and buying high dollar shit.
Lucky...yeah ok. If im Lucky those people are just stupid.
similar here, 20 percent down if lucky, I don't expect anything
 

boscru

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Many retirees on SS also continue to work. My brother-in-law got on SS at 62 and still works about 15-20 hours a week. Laid off. Will not be able to make his rent without the paycheck. Already has his hand out. Somehow managed to blow his tax return less than 4 weeks ago.

i'm in the same situation, though not looking for a handout.. I'm 64 and took SS early. not for everyone, but made sense in our case. (mrs. SS will be more than double mine when she takes it). I'm still working, taking a hit now, but enough reserves to carry on.

don't need the stimulus check, but will use it towards new hi-eff. HVAC system that was already planned for financially and would still happen either way.

was planning on a bigger boat this summer, but that's on hold for now, along with a .357 wheel gun i really need!!! [frown]
 
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TC McQuade

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2 statements and a warning I received regarding the stimulus payments.

1.
The IRS indicated that those who normally aren’t required to file taxes will need to file a ‘simple tax return’ in order to get a stimulus payment. At this time, the IRS has not provided instruction on how this should be done.

"Economic Impact Payments: What you need to know The distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people. However, some seniors and others who typically do not file returns will need to submit a simple tax return to receive the stimulus payment. Please do not call the IRS about this. When more specific details become available, we will update this page."


2. The IRS has indicated it would provide a web-based portal in the coming weeks for taxpayers to provide direct deposit information if they didn’t provide it on either their 2018 or 2019 tax return. This portal is not yet available.

3. Taxpayers should be on alert for phishing scams that try to take advantage of these situations.
 
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