Stimulus Check Calculator

We don't have direct deposit because we OWED taxes last year, which was really strange, as my husband was on unemployment half the year and we made less money than we ever had. So we sent a check. Now, we have had direct deposit on file with the IRS for many, many years, but not LAST year. And this year, well, we owe this year as well, but as we are totally broke right now, we are going to delay writing our check until July. So the government will not be direct depositing our money.
I know they SAY that they will have an app by the end of the week where we can enter our bank routing information. Because WHAT CAN GO WRONG? We'll be getting the app along with millions of other people and wait months and months for our money, IF we ever get our money. $2400 is a total joke.
My husband is retiring on April 30th. He had already put in for his retirement and the process was half completed so there's no getting out of it now. However, we received notice right after the shutdown began that there was one little bit of paperwork that the retirement board still needed (court copies of a 35 year old divorce, because the ORIGINAL DOCUMENTS are apparently not good enough for them). But guess what? Now the courts are closed and they won't do mail orders for certified divorce papers. When the court reopens it will be absolutely teeming with people wanting to do their family court business, and there are no appointments for this particular paperwork, it's in-person only and first come, first served. I am immunocompromised and my husband is 64 years old. If we survive the family court ordeal without catching COVID19, we will still have to wait, probably months, for his pension, because we will have missed the 60 day deadline to complete the retirement paperwork, and therefore the payments, when they start, will likely NOT be retroactive.
So, come April 30 my husband will no longer be working but his pension will not start probably until sometime in the fall, I'm guessing. We had planned to delay Social Security, but now it looks like we will need to start getting Social Security immediately to make up for having ZERO cash flow for months and months. The problem? So will everyone else. Guaranteed, the minute this thing is over, the Social Security office will be inundated with new applications. Normally the SS process takes two months. I bet it will be at least four, probably longer, before we can get a social security check. So, ZERO cash flow.
Well, we can use the 401k, right? NOPE. The administrator rules for our 401k state that you cannot take a distribution unless you are already retired. Which my husband is not, and will not be, for at least a few more months, even though he filed the papers in January, ffs. And besides, the 401k is 30% GONE. We tried a few years ago to move it into a safer place, but that's when we found out the administrator rule that even if you're 59.5 years old, you can't touch it until AFTER your retirement papers are processed. So not only can't we touch it right now, but anyway we don't really want to, because to do so would LOCK IN the losses. We'd be selling low.
Right now we are living on a little bit of savings we had, but it won't be enough to last forever, and we have a mortgage we won't be able to pay, starting sometime this summer. That $2400 is a drop in our proverbial bucket.
NONE of this would have happened if it hadn't been for COVID19. I am not a big fan of complete shutdown. I am in favor of reasonable social isolation and personal measures such as masks and gloves (worn and used properly), combined with massive, widescale testing and actual quarantine of those who test positive - away from their families.
I am definitely glad to live in such a prosperous place as the USA and to have all these options (pension, Social Security, 401k, relief checks) available to me! I don't want to seem ungrateful, it's just that none of it, NONE OF IT, helps us RIGHT NOW. I am very skeptical about actually receiving money from the government. For some reason, our case is always (and I mean ALWAYS) delayed or outright denied because of some stupid clerical error or problem with paperwork. Whether it be unemployment, or tuition reimbursement, or IRS relief money, I'll believe it when I see it. Call me a pessimist, but from personal experience with government programs, I wouldn't be at all surprised if ours never comes at all.
Sorry, rant over.

a reply to: Stupidsecrets

That's why mine is going right back to taxes. I apparently make to much to claim student loan interest, even though I paid off 60k in student loans last year, I would have been better off holding those loans and keeping my cash elsewhere apparently.

originally posted by: Hypntick
a reply to: Stupidsecrets

That's why mine is going right back to taxes. I apparently make to much to claim student loan interest, even though I paid off 60k in student loans last year, I would have been better off holding those loans and keeping my cash elsewhere apparently.

Isn't ironic? I've never been able to write off my student loan interest because I made too much money. The only reason I made so much was because I went to grad school. People who major in Bullshiz get to write off their interest but if you major in something valueable/useful and actually can pay back your loan and find a job, you get no breaks.

a reply to: Edumakated

Yeah I was good up until this last year, but that's because where I am has a pretty generous bonus and stock program. So every time I had RSU's vest I would get hit with that tax as well. I'm sure if I was filing by myself I would have hit the cut off years ago, but filing jointly has sheltered me for a while. It is a shame that those of us that do end up in well paying positions tend to be punished for student loans more than people who end up with a less than useful degree.

Edit: Off topic a bit, but based on your conversations in the past, big 4 or MBB?

originally posted by: tanstaafl
Ummm... whose fault is that?

In my case, it was my wife's fault for getting cancer. Sad but true reality of American healthcare. That was a long time ago though, and I've recovered my credit from it.

So... maybe they should consider getting a job and acquiring some income?

Still doesn't make what I said any less true.

a reply to: opethPA

Thank you. I was talking with a guy last night who was angry that he only got $1,083.64.

Looks like he made more than $75,000 last year.

Ah..The Perils of a socialist program... punishing those who make too much money.

originally posted by: Hypntick
a reply to: Edumakated

Yeah I was good up until this last year, but that's because where I am has a pretty generous bonus and stock program. So every time I had RSU's vest I would get hit with that tax as well. I'm sure if I was filing by myself I would have hit the cut off years ago, but filing jointly has sheltered me for a while. It is a shame that those of us that do end up in well paying positions tend to be punished for student loans more than people who end up with a less than useful degree.

Edit: Off topic a bit, but based on your conversations in the past, big 4 or MBB?

Rather not say to keep some anonymity. But one of those... I did go to H/S/W/K/C for MBA though.

originally posted by: LordAhriman
originally posted by: tanstaafl
"Ummm... whose fault is that?"

In my case, it was my wife's fault for getting cancer. Sad but true reality of American healthcare.

While I do maintain that people who get cancer and other diseases, for the most part (there are exceptions - people who unsuspectingly buy homes built on top of toxic waste dumps, etc) - bear a lot of responsibility for getting it, by living an unhealthy lifestyle.

That said, I have no problem with them being provided care through the public charity (government)...

There should be a new Medicare Part created (D? whatever) that provides care for the uninsurable.

But please stop wityh the nonsense that the insurance pool should be polluted (no offense intended by the term) by those with pre-existing conditions.

Saying that someone witrh a pre-existing condition should be able to buy 'insurance' just like those without, is like saying someone who refused to buy home owners insurance, should be able to call up an insurance company while their house is burning down, and buy insurance expected to cover it.

It is a ludicrous proposition.

originally posted by: tanstaafl

We got married in june of that year and put her on my insurance. She got sick in November and they still called it a preexisting condition, and didn't pay a dime. She was 24 with a very healthy lifestyle at the time.

a reply to: opethPA Once again another example of the story"how to catch a wild pig"it is happening in front of you please observe,no such thing as a free lunch,you'll be paying it back in one form or another

originally posted by: Oldtimer2
a reply to: opethPA Once again another example of the story"how to catch a wild pig"it is happening in front of you please observe,no such thing as a free lunch,you'll be paying it back in one form or another

I wont actually be paying anything back because I don't qualify for a check.

I made this post because I keep seeing people on ATS make silly statements like "I dont know if I will be getting a check" or "Im not sure if I qualify" which is ridiculous to me given the simple and easy info out there letting them know that.

a reply to: Stupidsecrets

The newest outrage is that Trump has his name on the check... Watching heads explode over something so minor has been one of my highlights this week.

a reply to: Fallingdown

This was for people who filed taxes for 2018/19. You can't file if your income was zero.

a reply to: Edumakated

Kind of like a well-known celebrity going into a dealership to buy a car and getting it practically for free because they're famous. Meanwhile, you're sitting there trying to get a little more on your trade just so you can afford the model of vehicle you want.

originally posted by: LordAhriman
originally posted by: tanstaafl
We got married in june of that year and put her on my insurance. She got sick in November and they still called it a preexisting condition, and didn't pay a dime.

Sounds like either someone lied, or an insurance company needs to be sued. Find a good lawyer. As long as it wasn't truly a pre-existing condition, you are due a large payout.

I do fully agree that insurance companies should have to pay for things like this as long as it wasn't a pre-existing condition.

I also believe they should be required to pay for the customers treatment of choice, including natural therapies.

She was 24 with a very healthy lifestyle at the time.

Can't tell you how many times I've heard that, then listened to them rattle off all of the extremely unhealthy things they eat and drink and do.

That said, I'm sorry she got cancer...

That said, it changes nothing with respect to my main point that someone with pre-existing conditions has no business being elegible for insurance.

originally posted by: LSU2018
a reply to: Fallingdown

This was for people who filed taxes for 2018/19. You can't file if your income was zero.

Yes you can.

a reply to: OuttaHere

...because we OWED taxes last year, which was really strange, as my husband was on unemployment half the year

Not strange at all. Unemployment compensation is not taxed. Worst tax hit I ever took was in a year I had a couple months of unemployment.