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$1000 Check... what would you do with it?

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Regular Contributor

Re: $1000 Check... what would you do with it?


@Back2Reality wrote:

What would you do with it?  


I am guessing since I owe back taxes I won't qualify, but I'd honestly be happy if they just took that off what I owed! 

 

Again....wishful thinking!

 

Otherwise I hope my allotment goes to someone that needs it more than I do. Same with my "husband", we aren't married and he has no income, so he won't see a dime. We aren't sad about it at all. I wish everyone the best and hope it helps those that really need it.




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Message 61 of 70
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Frequent Contributor

Re: $1000 Check... what would you do with it?

Right to savings. 

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Message 62 of 70
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Regular Contributor

Re: $1000 Check... what would you do with it?

https://www.google.com/amp/s/www.wsj.com/amp/articles/trump-administration-senate-democrats-said-to-...

 

Looks like they passed the bill. $1200 per adult making under 75k a year. My question, is this EVERYONE? Or do we think people such as myself who are adults but still claimed by my dad on his taxes will not qualify

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Message 63 of 70
Super Contributor

Re: $1000 Check... what would you do with it?


@Wrigley2172 wrote:

https://www.google.com/amp/s/www.wsj.com/amp/articles/trump-administration-senate-democrats-said-to-...

 

Looks like they passed the bill. $1200 per adult making under 75k a year. My question, is this EVERYONE? Or do we think people such as myself who are adults but still claimed by my dad on his taxes will not qualify


This is just the senate part. It has to pass the house and certain reps there have made comments that they may object to unanimous consent based on the text of the bill which would draw this out even more and lead to more negotiations. 

As for eligibility... are you considered an adult dependent? Because if so, you wouldn't get a check. 



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Message 64 of 70
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Regular Contributor

Re: $1000 Check... what would you do with it?

Yes im still cliamed as a dependent by my dad so no check for me, oh well. I know many people could use it more than I. Was just curious

Discover it: 7500
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Message 65 of 70
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Re: $1000 Check... what would you do with it?

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Message 66 of 70
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Valued Contributor

Re: $1000 Check... what would you do with it?


@Wrigley2172 wrote:

https://www.google.com/amp/s/www.wsj.com/amp/articles/trump-administration-senate-democrats-said-to-...

 

Looks like they passed the bill. $1200 per adult making under 75k a year. My question, is this EVERYONE? Or do we think people such as myself who are adults but still claimed by my dad on his taxes will not qualify


If your parents claim you,  you would fall under the $500 child credit.

 

No checks for our household but we would rather it go to those in need. 



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Message 67 of 70
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Community Leader
Senior Contributor

Re: $1000 Check... what would you do with it?


@LaHossBoss wrote:

@Back2Reality wrote:

What would you do with it?  


I am guessing since I owe back taxes I won't qualify, but I'd honestly be happy if they just took that off what I owed! 

 

Again....wishful thinking!

 

Otherwise I hope my allotment goes to someone that needs it more than I do. Same with my "husband", we aren't married and he has no income, so he won't see a dime. We aren't sad about it at all. I wish everyone the best and hope it helps those that really need it.


@LaHossBoss back taxes do not affect you receiving the check - they stated that owing back taxes and/or being behind on federal loans would not keep you from getting it. Apparently the only thing that'll keep you from getting a check you'd otherwise qualify for would be if you're in arrears on child support.




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Message 68 of 70
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Regular Contributor

Re: $1000 Check... what would you do with it?


@ImTheDevil wrote:

@LaHossBoss wrote:

@Back2Reality wrote:

What would you do with it?  


I am guessing since I owe back taxes I won't qualify, but I'd honestly be happy if they just took that off what I owed! 

 

Again....wishful thinking!

 

Otherwise I hope my allotment goes to someone that needs it more than I do. Same with my "husband", we aren't married and he has no income, so he won't see a dime. We aren't sad about it at all. I wish everyone the best and hope it helps those that really need it.


@LaHossBoss back taxes do not affect you receiving the check - they stated that owing back taxes and/or being behind on federal loans would not keep you from getting it. Apparently the only thing that'll keep you from getting a check you'd otherwise qualify for would be if you're in arrears on child support.


I also have old ffel loans that are not included in the stimulus package that may garnish. So that is another consideration as if they are to keep those through offset. I know they aren't offsetting taxes right now for federal, state, or US ED loans, but that leaves the rest of the old FFEL loans through private companies in the cold and is somewhat of an unknown to me. I am working on getting them all into rehab now, especially with everything going on and the incentives, but 80% of my fed loans are through private companies, so they don't 'have' to follow those guidelines from what I can tell so far.

 

My SO is also a currently a dependent of mine, but for 2020 tax purposes will be a spouse, so I am uncertain if he will get a check next year for it or if it will just be some sort of tax reduction (like itemizing).

 

Too many questions right now that I don't have firm answers to.

 

Thank you for the feedback!

 

Edit: sorry, I have a couple things going on, so my reasoning is two fold. I am also going to file the past 3 years and set up a payment plan for some taxes owed from way back. I fear by doing so that these private companies that hold my student loans will offset those tax returns when I would much rather they go to my back taxes owed. That is why this is kind of a mess for me. Makes me hesitant to file at all until I get a clear picture of how these old FFEL will be handled.




Starting Score: 2•20 | EQ 550 | TU 498 | EX 505
Current Score: 4•20 | EQ 566 [F9 587] [VS3 599] | TU 516 [F9 445] [VS3 517] | EX 539 [F9 515] [VS3 566]
Goal Score: 680


Take the myFICO Fitness Challenge

SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
SO Current Score: 4•20 | EQ 557 [F9 491] [VS3 610] | TU 494 [F9 453] [VS3 569] | EX 533 [F9 517] [VS3 613]
Goal Score: 680


Take the myFICO Fitness Challenge



Message 69 of 70
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Valued Member

Re: $1000 Check... what would you do with it?

$1,000 check .......hmmmm im in the process of bankruptcy so I would probably do 1 of 2 things. 
1) Use it as a down payment on a car

2)If my dad helps me with my car search I will save it to ise for either plates or pay in full my car insurance. 

Message 70 of 70
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