Stimulus package for LPR-

[Russel1995 163]

10 minutes ago, geowrian said:

The date has not been sent. Supposedly they want to send them in April but May is more likely. Obviously this would be before the new 2019 tax filing date. If they waited until July 15th, then had to wait for mailed returns and such to be processed, it would basically eliminate the purpose of having the advance rebate...at that point, just wait for the 2020 taxes. The goal here is to get the checks out as quickly as they can.

Im not talking about when they send out checks.  Thats more than obvious its to be done asap.

 

Im talking eligibility for the credit in 2020.  I highly doubt the cut off would be when they send the money out, as taxes may have changed between 2018 amd 2019.    Also hence why if your 2018 taxes made you ineleigble based off income, and 2019 taxes you are eligible based off income, you can get the credit in 2020.

 

Yes have eligibility technically based off 2019 tax status, but have the cut off date for eligbility before taxes need to be filed?  Yeah that makes perfect sense.

 

The date they send out checks wont be cut off date for eligibility for the tax credits in 2020

Edited March 27, 2020 by Russel1995

[geowrian 22,337]

4 minutes ago, Russel1995 said:

Im not talking about when they send out checks.  Thats more than obvious its to be done asap.

 

Im talking eligibility for the credit in 2020.  I highly doubt the cut iff would be when they send the money out, as taxes may have changed between 2018 amd 2019.  

 

Yes have eligibility technically based off 2019 tax status, but have the cut off date for eligbility before taxes need to be filed?  Yeah that makes perfect sense.

 

The date they send out checks wont be cut off date for eligibility for the tax credits in 2020

The eligibility for the actual tax credit, and how much of it, will be determined when you file your 2020 taxes.

The cutoff we are referring to is for the advance rebate. There is no "cutoff" for the credit.

Edited March 27, 2020 by geowrian

[Steeleballz 7,550]

5 minutes ago, Russel1995 said:

Exactly. cutoff for eligibility is 2019 tax income aka july 15th  Eligibility is SSN.

 

I dont think i ever mentioned a cut off being relevent to when they send check.  Im talking cut off for eligibility.

 

 

 

  They are trying to have the checks out in May. If you want to have it based on your 2019 return I suggest you get it filed well before that. Otherwise it will be based on your 2018 return.

 

  From the moment this came out, they said it was going to be based on your 2018 return or your 2019 return if you filed early enough. They are not basing it any way around the deadline for filing your 2019 return and they have never suggested they would. They also have never actually said what the cutoff is for using the 2019 return. They will use the most recent return they have finished processing on whatever day they issue the stimulus. 

[Sweetdreaming 397]

14 minutes ago, geowrian said:

 

Did you file 2019 with an SSN or ITIN?

LPR status isn't a factor.

SSN

[Russel1995 163]

3 minutes ago, Steeleballz said:

 

  They are trying to have the checks out in May. If you want to have it based on your 2019 return I suggest you get it filed well before that. Otherwise it will be based on your 2018 return.

 

  From the moment this came out, they said it was going to be based on your 2018 return or your 2019 return if you filed early enough. They are not basing it any way around the deadline for filing your 2019 return and they have never suggested they would. They also have never actually said what the cutoff is for using the 2019 return. They will use the most recent return they have finished processing on whatever day they issue the stimulus. 

I suppose you still have not realised i am speaking of 2020 CARE credit?  Not the advanced payment of credit?

 

And yes, they are going to based it off 2018 taxes, 2019 if you filed esrly enough.  But if changes between 2018 and 2019 make you eligbile for more than what you received you can get extra tax credits for it on 2020 taxes. Technically this CARE credit, as being calcualted in my first post in this form if you read, would show im talking about tax credit in 2020. Not the checks they send out.

Edited March 27, 2020 by Russel1995

[Steeleballz 7,550]

8 minutes ago, Russel1995 said:

Im not talking about when they send out checks.  Thats more than obvious its to be done asap.

 

Im talking eligibility for the credit in 2020.  I highly doubt the cut off would be when they send the money out, as taxes may have changed between 2018 amd 2019.    Also hence why if your 2018 taxes made you ineleigble based off income, and 2019 taxes you are eligible based off income, you can get the credit in 2020.

 

Yes have eligibility technically based off 2019 tax status, but have the cut off date for eligbility before taxes need to be filed?  Yeah that makes perfect sense.

 

The date they send out checks wont be cut off date for eligibility for the tax credits in 2020

 

  The eligibility for the 2020 credit is based on the entire 2020 year. You will determine that in 2021 when you file your 2020 return. What you get in advance will be an estimate based on the 2018 or 2019 return.

[Russel1995 163]

Just now, Steeleballz said:

 

  The eligibility for the 2020 credit is based on the entire 2020 year. You will determine that in 2021 when you file your 2020 return. What you get in advance will be an estimate based on the 2018 or 2019 return.

This is what i was looking for in my original post here when I was verifying if i understood another post in here showing calcuations.

 

Thank you.

[Steeleballz 7,550]

5 minutes ago, Russel1995 said:

This is what i was looking for in my original post here when I was verifying if i understood another post in here showing calcuations.

 

Thank you.

 

  Your welcome. The July 15th date looked like you were asking about 2019, so I didn't realize were asking about the 2020 deadline until the last post.

[Wuozopo 4,293]

There was a stimulus package in 2008.  So as an example of how it worked then for me a K1 Immigrant might shed some light on what you might expect this time around. 
 

2008 Feb

Stimulus passed. My “fiance” hadn’t even filed I-129F yet.

 

2008 April

Money started arriving by direct deposit or check. Amount was based on 2007 income, filing status, kids etc. My fiancé was single and got $300. 
 

October 2008

i entered on K1, married, and got SSN.  I was not an LPR in calendar year 2008.

 

Early 2009 filing our 2008 tax return.

We “elected” for me to be treated as a resident alien for tax purposes for the entire 2008 tax year, even though I was only in the US for 3 months. We filed jointly and submitted the signed statement to be a resident alien. We claimed my 2008 UK income and excluded it with Form 2555.  Part of the return asked “have you already received your 2008 stimulus payment?  
Wife: Yes.  

Me the K1: No.  

So I qualified for $300 which came, not by check, but as a credit on the 2008 tax return. That means whatever the calculated tax was, $300 was taken off.  Based on our 2008 return as a married couple, we qualified for $600, but my wife had already received her $300 early so only my $300 was credited when we filed. 

 

 

 

 

[geowrian 22,337]

1 hour ago, skjourney said:

SSN

Then you're fine.