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Check Will Soon Be In The Mail For 120 Million Taxpayers
washingtontimes.com ^ | March 26, 2020

Posted on 03/26/2020 7:30:27 AM PDT by Helicondelta

About 120 million U.S. taxpayers will qualify for direct payments from the government under the historic $2.2 trillion economic relief bill to combat the impact of the coronavirus, according to a conservative advocacy group’s analysis.

Treasury Secretary Steven T. Mnuchin has said checks of up to $1,200 per person and $500 per child will go out within three weeks of President Trump signing the legislation, which could come as early as Friday.

The IRS will send the money by direct deposit to taxpayers who have set up that capability; otherwise checks will be mailed.

Individuals with income up to $75,000 will qualify for a one-time direct payment of $1,200. The program phases out at a rate of $5 for every $100 of income above $75,000, with an individual income cap of $99,000.

Married couples with combined incomes up to $150,000 would receive $2,400, subject to the same phaseout that applies to individuals. The payments would be phased out entirely for couples making $198,000 or more.

Payments for children will be phased out under the same guidelines. AAF said eligibility will be based on 2019 income tax filings where possible.

(Excerpt) Read more at washingtontimes.com ...


TOPICS: Government; News/Current Events
KEYWORDS: coronavirus; incometaxes; taxcutsandjobsact; taxreform; tcja
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To: Fair Paul

I bet it is adjusted gross as on tax forms.


21 posted on 03/26/2020 7:40:34 AM PDT by madison10
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To: BBQToadRibs
All I could find is this:


22 posted on 03/26/2020 7:40:50 AM PDT by Helicondelta (Deplorable)
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To: Helicondelta
The people who paid the most in taxes get nothing.

I earned over $75K in 2018 and 2019, but retired last December. I could sure use an extra $1200, but I guess no politician wants to be seen helping the "rich".

On the positive side, my daughter lost her restaurant job a couple weeks ago, so she surely will get some badly needed help, as will millions of others who are in dire straits.
23 posted on 03/26/2020 7:41:44 AM PDT by Dan in Wichita
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To: where's_the_Outrage?

I wonder if they’d catch on if we set up our “kids”, Maris, Mel, Fiona, Darth-Ann, and Lily. Hmmm... (Meow.)


24 posted on 03/26/2020 7:42:39 AM PDT by MayflowerMadam (Immigrants with tuberculosis and polio are welcome, but youÂ’d better be able to prove your dog is v)
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To: Fair Paul

Several articles I’ve come across have never mentioned if it’s gross or taxable. I’ve looked and have yet to find anything clarifying that.


25 posted on 03/26/2020 7:43:20 AM PDT by BBQToadRibs
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To: JBW1949

Why should it? Has your income changed, lost your job or put on unpaid leave?


26 posted on 03/26/2020 7:43:34 AM PDT by Dusty Road (")
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To: Helicondelta

WOW! 1st we got free cheese, then we got free phones and now free money? Amerika what a country! I can now buy a huge Provalone, an I Phone and a 75” Flat TV and have some money left over to buy a Pizza? A large percentage of this nation loves Free Stuff, lets vote for more!


27 posted on 03/26/2020 7:44:00 AM PDT by Bringbackthedraft ( #ReasonableDemocratsforTrump. Where are you?)
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To: moovova

My check will read...

“Pay to the order of Mr/Mrs Moovova, the sum of $0 dollars/cents.”

At least one son and his wife will get the same check.


28 posted on 03/26/2020 7:44:20 AM PDT by Grampa Dave ((FearRepublic.com - keeping the media panic narrative going 24/7 to finally bring down Trump)!!!!)
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To: BBQToadRibs
Several articles I’ve come across have never mentioned if it’s gross or taxable. I’ve looked and have yet to find anything clarifying that.

Its's based on AGI.

29 posted on 03/26/2020 7:44:36 AM PDT by Fury
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To: Helicondelta; All

I’d like to see an accounting of all this $$$. Everyone in the country 350 million could get $1,000 and that would be $350 billion!


30 posted on 03/26/2020 7:47:03 AM PDT by ProudVet97
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To: utax

What is considered a child? under 18? dependent college student?


31 posted on 03/26/2020 7:47:35 AM PDT by jaydubya2
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To: Helicondelta

Since no value was created, this is a direct transfer of wealth from those whoearn >$99K to those whibearn less.

There is an inflationary mechanism that does the transferring automagically.


32 posted on 03/26/2020 7:47:39 AM PDT by Uncle Miltie (Messaging to Snowflakes: They stole it from Bernie AGAIN!)
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To: central_va

33 posted on 03/26/2020 7:50:02 AM PDT by Magnum44 (My comprehensive terrorism plan: Hunt them down and kill them.)
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To: Uncle Miltie

This is what wealth redistribution looks like. What Obama could not do, Trump is doing.


34 posted on 03/26/2020 7:51:00 AM PDT by nwrep
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To: Dusty Road

I just asked a question...What’s your problem????


35 posted on 03/26/2020 7:51:14 AM PDT by JBW1949 (I'm really PC.....Patriotically Correct)
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To: Helicondelta

None for me - phased out. I have to pay for it all. My blood is boiling.


36 posted on 03/26/2020 7:52:37 AM PDT by Codeflier (Covid-19 taught me: Two types of "conservatives", frightened safety seekers vs. freedom lovers)
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To: JBW1949

I’ve already exceeded my SS COLA raise of 1.6% by the time I buy 2 months of OTC brand Name Nexium. Tricare took it off the Formulary, and it’s the only 1 I can take. OTC is crap beside a Prescription. Take 80 mg per day + extra for break through. Osteoarthritis drugs ruined my gastro tract. Doesn’t count the Tricare copays.

Went through the Kroger Flyer, no cleaning products on sale. 1 of the fewest items I’ve bought in years 19 items. Nexium was 1 of them.


37 posted on 03/26/2020 7:56:39 AM PDT by GailA (I'm a Trump Girl)
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To: moovova

But like my Family, you’ll have the pleasure of picking up the tab.


38 posted on 03/26/2020 7:57:24 AM PDT by NativeSon ( What Would Virginia Do? #WWVD)
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To: LostInBayport

Lol


39 posted on 03/26/2020 7:58:27 AM PDT by Boardwalk
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To: lowbridge

The obamys have several SS numbers.


40 posted on 03/26/2020 7:58:43 AM PDT by bgill (CDC site doesn't recommend wearing a mask to protect from COVID-19)
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