"K-Roll-PorscheTamer" (k-roll390)
03/29/2020 at 12:40 • Filed to: Politics
0
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"K-Roll-PorscheTamer" (k-roll390)
03/29/2020 at 12:40 • Filed to: Politics | 0
| 28 |
Afternoon Oppo, hope everyone’s still doing well and managing this rough time as best as possible. Have some Watercooled P-Car gang, because it’s me, duh!
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I’ve already stated a few times that I’m not one to post and share much or anything directly political. However, this has been bugging me all weekend. Some college-aged friends and I were chatting about the stimulus pkg and the checks, browsing through the articles and such and found this. Not everyone will be benefiting from the bill (shocking, right?), that includes a lot of people in my demographic (college-aged, full time students that work part/full time, and may or may not live at home), and it’s been corroborated by many sources (Yahoo, CNN, NY Times, ect.).
Even if they have a job or are a student, young adults who still live at home will not get a check if they can be claimed as a dependent on anyone else’s tax return (whether or not they are actually claimed as a dependent on someone’s return) . We’re mainly talking about children who are 17 or 18 years old, or college students who are 23 or younger at the end of the year. The IRS will look at your 2019 or 2018 tax return to determine if someone could claim you as a dependent.
According to Forbes, and even though whether or not someone is claimed isn’t a factor apparently, I cut out this snippet:
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Other than remembering that bills and the such are generally and frustratingly more complicated than they should be sometimes, I’m occasionally a rather intelligent fellow, and this is damn confusing.
From my interpretation of it all, It’s looking as though I will not be receiving that check. I’m more than happy for those who will benefit from that check. It sure as heck stings that I could’ve benefited from it as well, even if it’s only temporary; that said, temporary is better than not at all.
I’d love to have some incite and knowledge from those that are much more politically inclined and educated than I am . One of the best ways to learn is from others. Have another Porsche.
sony1492
> K-Roll-PorscheTamer
03/29/2020 at 12:51 |
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I may be in a similar boat, how are they determining if one has provided half or more of their own support?
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K-Roll-PorscheTamer
> sony1492
03/29/2020 at 12:58 |
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I’ve no idea! No website or source I’ve gone through has the answer to that.
Who is the Leader - 404 / Blog No Longer Available
> K-Roll-PorscheTamer
03/29/2020 at 12:59 |
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So being claimed as a dependent doesn't matter but the ability to be claimed as a dependent does?
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K-Roll-PorscheTamer
> Who is the Leader - 404 / Blog No Longer Available
03/29/2020 at 13:02 |
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That’s how I read it also. You see why this is needlessly confusing right?
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sony1492
> K-Roll-PorscheTamer
03/29/2020 at 13:03 |
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P erhaps it’s a question on the tax return?
SpecsGTP
> K-Roll-PorscheTamer
03/29/2020 at 13:07 |
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It seems fairly straight forward to a mid -30s dude like me. If someone is able to claim you as a dependent, even though you may be filing a tax return for yourself, as a dependent you will not qualify for a stimulus check.
D oes or suck for you quasi-independent peeps? Yep, sure does, but the only way to prevent children like my mini getting a check as well is to remove dependents. Is it a perfect system? Heck no, but it helps many of those waitresses, bus drivers, and other low-wage hourly earners that truly are struggling.
TheRealBicycleBuck
> K-Roll-PorscheTamer
03/29/2020 at 13:07 |
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It looks like they are following the same line of thought that governs student financial aid. I was in college when they changed those rules and very nearly got screwed. I was already financially independent since I had followed the previous rules and taken a year off of college to establish independence. Even so, the new rules affected my grant/loan ratio and I ended up with loans to cover the bulk of my last two undergraduate years.
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K-Roll-PorscheTamer
> sony1492
03/29/2020 at 13:53 |
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I’ll have to check mine to see if there’s anything like that.
vondon302
> K-Roll-PorscheTamer
03/29/2020 at 13:59 |
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Crazy times. It looks like I’ll get a check but not the full amount. Yet you could use the money more than me. I’m on voluntarily layoff week to week.
If they think 1200 bucks is going to fix this we’re all in trouble
Cheers anyways.
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sony1492
> K-Roll-PorscheTamer
03/29/2020 at 14:04 |
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Okay, this appear to be a tax return question:
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K-Roll-PorscheTamer
> SpecsGTP
03/29/2020 at 14:12 |
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It’s one of those “the needs of the many outweigh the needs of the few” moments, albeit very imperfectly. Such is life, sometimes.
The Ghost of Oppo
> K-Roll-PorscheTamer
03/29/2020 at 14:16 |
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The part I think many people are missing
As we mentioned earlier, the check you receive is really just an advanced payment of a tax credit for the 2020 tax year.
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K-Roll-PorscheTamer
> vondon302
03/29/2020 at 14:19 |
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Since I work for my dad, and he’s got a retail store that’s very obviously been closed because of the virus, I’ve been out of work for over a week now; my mom’s store as well for that matter. I agree that the $1200 isn’t much more than a bandaid, but having it is better than not having it.
I’m extremely concerned for my internship that should be starting in May. HR said a few weeks ago that’ll be going ahead as planned, but who can say where we’ll be at into April...
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K-Roll-PorscheTamer
> The Ghost of Oppo
03/29/2020 at 14:22 |
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I haven’t missed that at all. There’s no such thing as free money, so it had to come from somewhere.
Cash Rewards
> K-Roll-PorscheTamer
03/29/2020 at 14:25 |
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That seems to be the critical item by my reading, and seems somewhat fair? But also kinda shitty
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The Ghost of Oppo
> K-Roll-PorscheTamer
03/29/2020 at 14:32 |
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Right, but I’ve seen a lot of people who do just think this is totally free money. Probably because I’ve seen multiple news articles that don’t mention it, and even it this one it was below the “click to read more” button.
Chariotoflove
> The Ghost of Oppo
03/29/2020 at 14:42 |
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I had not heard that. If that’s the case, it really wouldn’t be helpful at all, and I struggle to see how it would cost the government two trillion dollars.
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Chariotoflove
> K-Roll-PorscheTamer
03/29/2020 at 14:44 |
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If you are looking for a rationale, I think it would be this. The package is first and foremost to help people who provide for themselves and have little or no safety net. If you could be claimed as a dependent on someone else’s tax return (even if you are not right now), it is assumed that you have some kind of family support system.
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The Ghost of Oppo
> Chariotoflove
03/29/2020 at 14:46 |
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It “ costs” two trillion dollars now because they haven’t collected all of your CY2020 taxes yet. It will only be helpful to people who have been laid off and really need the money now.
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vondon302
> K-Roll-PorscheTamer
03/29/2020 at 14:55 |
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Ugh on the internship.
Fingers crossed.
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K-Roll-PorscheTamer
> Cash Rewards
03/29/2020 at 15:11 |
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Pretty much, I agree.
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Chariotoflove
> The Ghost of Oppo
03/29/2020 at 15:21 |
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I went and read. I get it now. By being a refundable credit, it was going to essentially be an economic stimulus for next year that they’ve moved to this year. This does help me because the investment stash from which I was going to liquidate to pay for tuition this year is now a fair bit smaller. This source will help a bit to give that stash time to recover with the markets.
But when that tax credit isn’t going to be there next spring, and the economy still is recovering from this, I won’t be surprised to see them pass something additional.
HFV has no HFV. But somehow has 2 motorcycles
> The Ghost of Oppo
03/29/2020 at 15:38 |
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Oh well shit.
If that 1200 bucks actually comes it would only juuuust cover the two weeks of work I’ve missed so far.
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K-Roll-PorscheTamer
> vondon302
03/29/2020 at 15:49 |
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My fingers are crossed to the point of snapping. Because I’m not sure how I’m gonna be able to pay for the things I current have and need if I don’t start working again, and if I don’t have that internship.
wafflesnfalafel
> K-Roll-PorscheTamer
03/29/2020 at 19:59 |
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dammit, I was counting on that check for a down payment on that Porsche...
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K-Roll-PorscheTamer
> wafflesnfalafel
03/29/2020 at 20:00 |
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What Porsche?
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wafflesnfalafel
> K-Roll-PorscheTamer
03/29/2020 at 20:04 |
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T he 911 is nice, but I don’t really like those aftermarket fenders and 944s are nice but don’t really like convertibles - so I would take that pretty red 928 out of those five. :)
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K-Roll-PorscheTamer
> wafflesnfalafel
03/30/2020 at 01:07 |
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Oh you. :)