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Author Topic: lmao.... all those BAILOUT money $$$.... woot whose going pay for it???  (Read 3554 times)

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Offline hmgROCK

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Re: lmao.... all those BAILOUT money $$$.... woot whose going pay for it???
« Reply #15 on: April 13, 2020, 10:33:55 PM »
So who is gonna pay for it? 

Effing government man is a con man.  He is taking your tax credit for next year 2020 and pay you now.  So that means you all may owe tax when you file your tax next year.  Think of it as giving you first and the irs will collect it back later. 

"Do you have to pay back the stimulus check?

No. The stimulus payment is actually a refundable credit against your 2020 tax liability, according to Kyle Pomerleau of the American Enterprise, and is paid out as an advanced refund. That means you don’t have to wait to file your 2020 taxes to get the money."


https://money.yahoo.com/coronavirus-stimulus-checks-irs-tool-lets-you-track-the-money-to-your-household-145659731.html

The reason why i think the yahoo writer is wrong
Is because

1.  SSI: folks who don’t file taxes in years, got the money
2.  They probably not going file 2020 (why start now)

Who know???
They rush this bill

My best guess is
They will try to raise tax, cut spending, etc,,,


« Last Edit: April 13, 2020, 10:36:13 PM by hmgROCK »

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Offline DuMa

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Re: lmao.... all those BAILOUT money $$$.... woot whose going pay for it???
« Reply #16 on: April 14, 2020, 02:39:02 AM »
So who is gonna pay for it? 

Effing government man is a con man.  He is taking your tax credit for next year 2020 and pay you now.  So that means you all may owe tax when you file your tax next year.  Think of it as giving you first and the irs will collect it back later. 

"Do you have to pay back the stimulus check?

No. The stimulus payment is actually a refundable credit against your 2020 tax liability, according to Kyle Pomerleau of the American Enterprise, and is paid out as an advanced refund. That means you don’t have to wait to file your 2020 taxes to get the money."


https://money.yahoo.com/coronavirus-stimulus-checks-irs-tool-lets-you-track-the-money-to-your-household-145659731.html

We need clearer news cuz not all news are clean.  This is from another source that sounds more legit. 

"Will this eat into my tax refund for 2020?

No. The ‘advance’ you’ve been hearing about is in reference to a special tax credit that’ll appear on the tax return you file in 2021 for the 2020 tax year — a tax credit that wouldn’t have been there if it wasn’t for these stimulus checks.

So the Internal Revenue Service isn’t giving you some of your 2020 tax refund upfront. The stimulus check will be in addition to what you would’ve otherwise expected."


https://money.com/stimulus-check-advance-tax-refund/

So I got a friend that he and his wife both incomes barely exceeded the maximum tier and he's tripping about not getting his stimulus.  I told him that he may still get it in a form of a tax credit for next year's tax filing season. 

I dunno.  I'm still learning along the way.   O0



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Offline theking

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Re: lmao.... all those BAILOUT money $$$.... woot whose going pay for it???
« Reply #17 on: April 14, 2020, 10:30:04 AM »
My best guess is

"guess" REALLY??

So much for being the "hmomg Nostradamus and is always right".. ::)



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