Out of the Blue

Despite the fact that spring recently sprung in these parts, we've had cold, rain, and snow the past couple of days. This seems like good news, as it probably reduces the temptation for people to go out and potentially get sick. This will all probably change soon enough, but in the meantime it's probably for the best. I hope you are all safe and doing well in dealing with your cabin fever.

Obituary: RIP, Bill Rieflin, drummer for King Crimson, KMFDM, Swans, NIN, Ministry, Pigface, and many others.
Obituary: R.I.P. Stuart Gordon.

Locked Up Links: Thanks Ant and Neutronbeam.
Links: The Best 1 and 2 Player Tabletop Games to Play While You're Stuck at Home.
Aston Martin designs a new V6 for James Bond—and the Valhalla hypercar.
This is why everyone is hoarding toilet paper. Thanks RedEye9.
Stories: Unclogging Toilets at $400,000 a Flush Hits Navy’s Costs.
Australian woman finds huge Burmese python on her porch.
Science: Simulated 'Frankenfish brain-swaps' reveal senses control body movement. Thanks Max.
Mouse found atop a 22,000-foot volcano, breaking world record.
Life on the Planet Mercury? ‘It’s Not Completely Nuts.’
Images: This Kaiju Armor Is the King of Monster Cosplay.
Media: This Tug Boat Just Sailed Down The Thames Blasting 'Always Look On The Bright Side Of Life.'
Honest Trailers - Star Wars: The Rise of Skywalker.
If Geralt had a Cat (OwlKitty + Witcher).
Follow-ups: WHO: US could be the next epicenter of the global coronavirus pandemic. Thanks Acleacius.
Federal Emergency Management Agency Launches Website To Combat False Rumors.
Total Cost of Her COVID-19 Treatment- $34,927.43. Thanks Simon.
Astronauts know how to handle isolation: Here are tips from Scott Kelly, Peggy Whitson and more. Thanks RedEye9.
View : : :
48 Replies. 3 pages. Viewing page 1.
Newer [  1  2  3  ] Older
48.
 
Re: Out of the Blue
Mar 27, 2020, 00:16
48.
Re: Out of the Blue Mar 27, 2020, 00:16
Mar 27, 2020, 00:16
 
RedEye9 wrote on Mar 26, 2020, 23:33:
Sepharo wrote on Mar 26, 2020, 23:08:
Mr. Tact wrote on Mar 26, 2020, 10:54:
Now that you say it is based on 2020 taxes, I do vaguely remember something about that. At the risk of seeming to be a complete idiot though, it is still not clear to me what is being proposed.

Is this a $1,200 reduction in my 2020 tax bill regardless of whether I am in the red or black concerning my Apr 15 2021 tax filing. Or is this an adjustment to my filing. ie... If I would normally be due a $2,000 refund next March, instead I would get $800, because I already got $1,200? And if normally I would have to pay $2,000, instead I will owe $3,200?

I don't think so...

Your 2020 Stimulus Check: How Much? When? And Other Questions Answered

It's a tax credit.
So in your first scenario where you were going to get a $2,000 tax refund... this is more like changing your tax refund to $3,200 (assuming individual and not joint file)... and then giving you $1,200 of that refund right away... and $2,000 come actual refund time.

And in your second scenario, where you were going to owe $2000... Now you owe $800, but they gave you $1200, and when it comes tax time... you still end up owing $2000.

At least I think that's right.
even if you earned 3 dollars last year the calculator says you still get 1200 https://www.washingtonpost.com/graphics/business/coronavirus-stimulus-check-calculator/

I'm not sure how that's related to anything I wrote... but yep, that's right.
Avatar 17249
47.
 
Re: Out of the Blue
Mar 26, 2020, 23:33
47.
Re: Out of the Blue Mar 26, 2020, 23:33
Mar 26, 2020, 23:33
 
Sepharo wrote on Mar 26, 2020, 23:08:
Mr. Tact wrote on Mar 26, 2020, 10:54:
Now that you say it is based on 2020 taxes, I do vaguely remember something about that. At the risk of seeming to be a complete idiot though, it is still not clear to me what is being proposed.

Is this a $1,200 reduction in my 2020 tax bill regardless of whether I am in the red or black concerning my Apr 15 2021 tax filing. Or is this an adjustment to my filing. ie... If I would normally be due a $2,000 refund next March, instead I would get $800, because I already got $1,200? And if normally I would have to pay $2,000, instead I will owe $3,200?

I don't think so...

Your 2020 Stimulus Check: How Much? When? And Other Questions Answered

It's a tax credit.
So in your first scenario where you were going to get a $2,000 tax refund... this is more like changing your tax refund to $3,200 (assuming individual and not joint file)... and then giving you $1,200 of that refund right away... and $2,000 come actual refund time.

And in your second scenario, where you were going to owe $2000... Now you owe $800, but they gave you $1200, and when it comes tax time... you still end up owing $2000.

At least I think that's right.
even if you earned 3 dollars last year the calculator says you still get 1200 https://www.washingtonpost.com/graphics/business/coronavirus-stimulus-check-calculator/
“The time has come for us to move beyond seeing public health as the ax in the display case, where the sign says IN CASE OF EMERGENCY, BREAK GLASS.”
Pandemics don’t end because the economy is suffering and we want them to.
Avatar 58135
46.
 
Re: Out of the Blue
Mar 26, 2020, 23:23
Kxmode
 
46.
Re: Out of the Blue Mar 26, 2020, 23:23
Mar 26, 2020, 23:23
 Kxmode
 
deleted

This comment was edited on Apr 8, 2020, 02:48.
"Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times." - Those Who Remain by G. Michael Hopf
Avatar 18786
45.
 
Re: Out of the Blue
Mar 26, 2020, 23:08
45.
Re: Out of the Blue Mar 26, 2020, 23:08
Mar 26, 2020, 23:08
 
Mr. Tact wrote on Mar 26, 2020, 10:54:
Now that you say it is based on 2020 taxes, I do vaguely remember something about that. At the risk of seeming to be a complete idiot though, it is still not clear to me what is being proposed.

Is this a $1,200 reduction in my 2020 tax bill regardless of whether I am in the red or black concerning my Apr 15 2021 tax filing. Or is this an adjustment to my filing. ie... If I would normally be due a $2,000 refund next March, instead I would get $800, because I already got $1,200? And if normally I would have to pay $2,000, instead I will owe $3,200?

I don't think so...

Your 2020 Stimulus Check: How Much? When? And Other Questions Answered

It's a tax credit.
So in your first scenario where you were going to get a $2,000 tax refund... this is more like changing your tax refund to $3,200 (assuming individual and not joint file)... and then giving you $1,200 of that refund right away... and $2,000 come actual refund time.

And in your second scenario, where you were going to owe $2000... Now you owe $800, but they gave you $1200, and when it comes tax time... you still end up owing $2000.

At least I think that's right.
Avatar 17249
44.
 
Re: Out of the Blue
Mar 26, 2020, 22:51
44.
Re: Out of the Blue Mar 26, 2020, 22:51
Mar 26, 2020, 22:51
 
edit: nm

read text of the bill, I was wrong about something
Avatar 17249
43.
 
Re: Out of the Blue
Mar 26, 2020, 22:11
Kxmode
 
43.
Re: Out of the Blue Mar 26, 2020, 22:11
Mar 26, 2020, 22:11
 Kxmode
 
deleted

This comment was edited on Apr 8, 2020, 02:48.
"Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times." - Those Who Remain by G. Michael Hopf
Avatar 18786
42.
 
Re: Out of the Blue
Mar 26, 2020, 17:04
42.
Re: Out of the Blue Mar 26, 2020, 17:04
Mar 26, 2020, 17:04
 
Mr. Tact wrote on Mar 26, 2020, 16:38:
You know, in one way you have to hand it to the Trump administration... every time you think, "they can't do anything worse than that." They prove you wrong. It really is quite amazing...
It’s under control.
“The time has come for us to move beyond seeing public health as the ax in the display case, where the sign says IN CASE OF EMERGENCY, BREAK GLASS.”
Pandemics don’t end because the economy is suffering and we want them to.
Avatar 58135
41.
 
Re: Out of the Blue
Mar 26, 2020, 16:38
41.
Re: Out of the Blue Mar 26, 2020, 16:38
Mar 26, 2020, 16:38
 
You know, in one way you have to hand it to the Trump administration... every time you think, "they can't do anything worse than that." They prove you wrong. It really is quite amazing...
"Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly, and applying the wrong remedies." -- Groucho Marx
40.
 
Re: Out of the Blue
Mar 26, 2020, 15:53
40.
Re: Out of the Blue Mar 26, 2020, 15:53
Mar 26, 2020, 15:53
 
Nullity wrote on Mar 26, 2020, 09:30:
Mr. Tact wrote on Mar 26, 2020, 09:13:
Wait, are you saying you believe the $1,200 checks will need to be directly repaid if you already got a refund or weren't going to get a refund? That wasn't my understanding, I thought it was more of a tax forgiveness than a tax refund on already taxes paid, effectively releasing funds already paid -- hence why the GOP wanted to reduce/exclude those who earned so little they didn't have to pay federal taxes. If I have to pay the $1,200 back (already got my 2019 refund) there's no reason for me to cash the check. Which makes the package even worse than I thought it was.
It looks like it's a tax credit for 2020 - so next year's taxes. In other words it's an advance on your 2020 tax refund based on your 2020 income.

I wish there was a way to op out of this and just continue like business as usual. It's basically just a shiny distraction in the hope that we don't notice the trillions of dollars they're handing out to corporations that don't need it.

Will no one think of the cruise lines?? What would the world be without them?
"The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that my ignorance is just as good as your knowledge." Isaac Asimov
Avatar 22024
39.
 
Re: Out of the Blue
Mar 26, 2020, 11:00
39.
Re: Out of the Blue Mar 26, 2020, 11:00
Mar 26, 2020, 11:00
 
Mr. Tact wrote on Mar 26, 2020, 10:54:
*
tldr
Our children's children will pay for it. Crowngrin
“The time has come for us to move beyond seeing public health as the ax in the display case, where the sign says IN CASE OF EMERGENCY, BREAK GLASS.”
Pandemics don’t end because the economy is suffering and we want them to.
Avatar 58135
38.
 
Re: Out of the Blue
Mar 26, 2020, 10:54
38.
Re: Out of the Blue Mar 26, 2020, 10:54
Mar 26, 2020, 10:54
 
Now that you say it is based on 2020 taxes, I do vaguely remember something about that. At the risk of seeming to be a complete idiot though, it is still not clear to me what is being proposed.

Is this a $1,200 reduction in my 2020 tax bill regardless of whether I am in the red or black concerning my Apr 15 2021 tax filing. Or is this an adjustment to my filing. ie... If I would normally be due a $2,000 refund next March, instead I would get $800, because I already got $1,200? And if normally I would have to pay $2,000, instead I will owe $3,200?

This comment was edited on Mar 26, 2020, 11:06.
"Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly, and applying the wrong remedies." -- Groucho Marx
37.
 
Re: Out of the Blue
Mar 26, 2020, 09:48
37.
Re: Out of the Blue Mar 26, 2020, 09:48
Mar 26, 2020, 09:48
 
The federal government has directly sent money to people twice before. Both were provided as rebates - or, put another way, through tax cuts.

This time, the government would fund the checks through further borrowing.
Source
“The time has come for us to move beyond seeing public health as the ax in the display case, where the sign says IN CASE OF EMERGENCY, BREAK GLASS.”
Pandemics don’t end because the economy is suffering and we want them to.
Avatar 58135
36.
 
Re: Out of the Blue
Mar 26, 2020, 09:30
36.
Re: Out of the Blue Mar 26, 2020, 09:30
Mar 26, 2020, 09:30
 
Mr. Tact wrote on Mar 26, 2020, 09:13:
Wait, are you saying you believe the $1,200 checks will need to be directly repaid if you already got a refund or weren't going to get a refund? That wasn't my understanding, I thought it was more of a tax forgiveness than a tax refund on already taxes paid, effectively releasing funds already paid -- hence why the GOP wanted to reduce/exclude those who earned so little they didn't have to pay federal taxes. If I have to pay the $1,200 back (already got my 2019 refund) there's no reason for me to cash the check. Which makes the package even worse than I thought it was.
It looks like it's a tax credit for 2020 - so next year's taxes. In other words it's an advance on your 2020 tax refund based on your 2020 income.

I wish there was a way to op out of this and just continue like business as usual. It's basically just a shiny distraction in the hope that we don't notice the trillions of dollars they're handing out to corporations that don't need it.
Avatar 58038
35.
 
Re: Out of the Blue
Mar 26, 2020, 09:25
35.
Re: Out of the Blue Mar 26, 2020, 09:25
Mar 26, 2020, 09:25
 
I thought Mexico was going to pay for it.
Oh wait, that was the wall.
So much winning.
“The time has come for us to move beyond seeing public health as the ax in the display case, where the sign says IN CASE OF EMERGENCY, BREAK GLASS.”
Pandemics don’t end because the economy is suffering and we want them to.
Avatar 58135
34.
 
Re: Out of the Blue
Mar 26, 2020, 09:13
34.
Re: Out of the Blue Mar 26, 2020, 09:13
Mar 26, 2020, 09:13
 
Wait, are you saying you believe the $1,200 checks will need to be directly repaid if you already got a refund or weren't going to get a refund? That wasn't my understanding, I thought it was more of a tax forgiveness than a tax refund on already taxes paid, effectively releasing funds already paid -- hence why the GOP wanted to reduce/exclude those who earned so little they didn't have to pay federal taxes. If I have to pay the $1,200 back (already got my 2019 refund) there's no reason for me to cash the check. Which makes the package even worse than I thought it was.

This comment was edited on Mar 26, 2020, 09:25.
"Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly, and applying the wrong remedies." -- Groucho Marx
33.
 
Re: Out of the Blue
Mar 26, 2020, 08:52
Beamer
 
33.
Re: Out of the Blue Mar 26, 2020, 08:52
Mar 26, 2020, 08:52
 Beamer
 
Mr. Tact wrote on Mar 26, 2020, 08:40:
Beamer wrote on Mar 26, 2020, 08:31:
$1200 hush advance of your tax return, but you may have to pay it all back and then some.
Exactly, Beamer. No "may" about it, eventually we will pay for it. So, much for those worries about socialism, eh? Not a problem when the money is for the corporations.

What I meant about "may" is that a lot of people in this group will owe money for their taxes. So it's an advance, but a good amount are getting an advance on something that will be less, or possibly negative. So many of these people will get $1200 today, and owe $1700 down the road.
32.
 
Re: Out of the Blue
Mar 26, 2020, 08:40
32.
Re: Out of the Blue Mar 26, 2020, 08:40
Mar 26, 2020, 08:40
 
Beamer wrote on Mar 26, 2020, 08:31:
$1200 hush advance of your tax return, but you may have to pay it all back and then some.
Exactly, Beamer. No "may" about it, eventually we will pay for it. So, much for those worries about socialism, eh? Not a problem when the money is for the corporations.
"Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly, and applying the wrong remedies." -- Groucho Marx
31.
 
Re: Out of the Blue
Mar 26, 2020, 08:31
Beamer
 
31.
Re: Out of the Blue Mar 26, 2020, 08:31
Mar 26, 2020, 08:31
 Beamer
 
RedEye9 wrote on Mar 26, 2020, 08:06:
Mr. Tact wrote on Mar 26, 2020, 07:56:
Yeah, 4.2 trillion for the Treasury to basically give to businesses as they please... It is a total scam job. And if passed will be exposed as such in the years to come, without consequence to anyone except the tax payers.
It passed the Senate and should fly through the House. Now take your $1200 hush money and keep quiet. If the truth gets out nothing will change.

$1200 hush advance of your tax return, but you may have to pay it all back and then some.
30.
 
Re: Out of the Blue
Mar 26, 2020, 08:28
30.
Re: Out of the Blue Mar 26, 2020, 08:28
Mar 26, 2020, 08:28
 
RedEye9 wrote on Mar 26, 2020, 08:06:
Mr. Tact wrote on Mar 26, 2020, 07:56:
Yeah, 4.2 trillion for the Treasury to basically give to businesses as they please... It is a total scam job. And if passed will be exposed as such in the years to come, without consequence to anyone except the tax payers.
It passed the Senate and should fly through the House. Now take your $1200 hush money and keep quiet. If the truth gets out nothing will change.
Yeah it probably will. I'll take the money, but don't count on me keeping quiet.
"Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly, and applying the wrong remedies." -- Groucho Marx
29.
 
Re: Out of the Blue
Mar 26, 2020, 08:06
29.
Re: Out of the Blue Mar 26, 2020, 08:06
Mar 26, 2020, 08:06
 
Mr. Tact wrote on Mar 26, 2020, 07:56:
Yeah, 4.2 trillion for the Treasury to basically give to businesses as they please... It is a total scam job. And if passed will be exposed as such in the years to come, without consequence to anyone except the tax payers.
It passed the Senate and should fly through the House. Now take your $1200 hush money and keep quiet. If the truth gets out nothing will change.
“The time has come for us to move beyond seeing public health as the ax in the display case, where the sign says IN CASE OF EMERGENCY, BREAK GLASS.”
Pandemics don’t end because the economy is suffering and we want them to.
Avatar 58135
48 Replies. 3 pages. Viewing page 1.
Newer [  1  2  3  ] Older