Here we go...
Stimulus & Bailout Watch Thread
- Thread starter wire28
- Start date
Here we go...It was apart of the cares act. I suggest you talk to your employer 401k or your own ira. But you can withdraw without that 10% penalty but you still need to pay taxes on it as it is considered income. You can pay the taxes over 3 years though. Its not a good idea unless you really need the money. I'm going to withdraw the max 100k to buy a nice house.
Isn't it 99K?Nope...
It’s crazy how people generally assume people making over 80k should just be good without assistance for an indefinite amount time.
This should at the bare minimum be 1200 a month until a vaccine is created. 
88m3
Fast Money & Foreign Objects
The New York Times
·
As lawmakers prepare for another round of fiscal stimulus,
House Speaker Nancy Pelosi
suggested the next package include a retroactive rollback of a tax change that hurt high earners in states like New York and California.
NYTIMES.COM New Stimulus Plan: Rolling Back SALT Cap
Queen
·
As lawmakers prepare for another round of fiscal stimulus,
House Speaker Nancy Pelosi
suggested the next package include a retroactive rollback of a tax change that hurt high earners in states like New York and California.
NYTIMES.COM New Stimulus Plan: Rolling Back SALT Cap
Queen
This should at the bare minimum be 1200 a month until the end of time
the country just needs to figure a way to have reverse inflation...
Wait til i pay off my mortgage first
Too many people have too much debt
mastermind
Rest In Power Kobe
This is patheticThe New York Times
·
As lawmakers prepare for another round of fiscal stimulus,
House Speaker Nancy Pelosi
suggested the next package include a retroactive rollback of a tax change that hurt high earners in states like New York and California.
NYTIMES.COM New Stimulus Plan: Rolling Back SALT Cap
Queen
Good ideaThe New York Times
·
As lawmakers prepare for another round of fiscal stimulus,
House Speaker Nancy Pelosi
suggested the next package include a retroactive rollback of a tax change that hurt high earners in states like New York and California.
NYTIMES.COM New Stimulus Plan: Rolling Back SALT Cap
Queen
Why?This is pathetic
mastermind
Rest In Power Kobe
Because we need the money now.Good idea
Why?
It is fine if its in conjunction with a cash payment right now. Instead, she wants to give us money back for our 2020 filings from how it's written.
ALso, and bigger than anything else, how does this help renters?
I received my tax refund 2 weeks after e-filing. What's the current timeline on the previously passed stimulus checks?
Just seemed like easy relief for people who live in states like NY and CA who are incurring additional costs due to school being out.
mastermind
Rest In Power Kobe
My point is I am not sure that money is coming until next year. The article doesn't make it seem like its coming for people this year.
If you already filed your taxes and got a return, will the IRS go back and process that to send more money this year? I am not convinced.
And this does not help renters and lower-income people.
Pelosi is ill-equipped to work on this.
88m3
Fast Money & Foreign Objects
@mastermind it's an unfair tax and the article says it would be retroactive to when they passed it
mastermind
Rest In Power Kobe
I know what the article said.
That doesn't address when the money would be distributed. The article doesn't mention that.
On top of that, it doesn't help most of the people in those states, ie people who rent. This seems like it's for the upper-middle-class to wealthy.