Author Topic: Coronavirus Stimulus Aid Package  (Read 66429 times)

Offline sillypainter

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Re: Coronavirus Stimulus Aid Package
« Reply #320 on: April 03, 2020, 05:22:14 PM »
If someone is a dependent on 2019 but files alone in 2020 will they receive the stimulus check?

Yes. All is actually based on '20. The government uses '19 or '18 because they don't have the '20 numbers yet.

Offline ltttc

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Re: Coronavirus Stimulus Aid Package
« Reply #321 on: April 03, 2020, 05:26:12 PM »
This is what Chase sent yesterday


Dear Business Client,

Chase wants to help you get the Small Business Administration (SBA) Paycheck Protection Program emergency funds you may need to continue paying your employees and supporting your business.

Financial institutions like ours are still awaiting guidance from the SBA and the U.S. Treasury. As a result, Chase will most likely not be able to start accepting applications on Friday, April 3rd, as we had hoped.

Bigger banks like Wells Fargo and BOA are accepting applications.

Offline sillypainter

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Re: Coronavirus Stimulus Aid Package
« Reply #322 on: April 03, 2020, 06:21:39 PM »
You can fill now out a form online with Chase for the PPP loan, but it's basically a call back form.

Offline herb

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Re: Coronavirus Stimulus Aid Package
« Reply #323 on: April 03, 2020, 06:26:30 PM »
Bigger banks like Wells Fargo and BOA are accepting applications.
anyway to apply with wells fargo? Tried calling multiple times today and no help

Offline Jack out of the box

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Re: Coronavirus Stimulus Aid Package
« Reply #324 on: April 04, 2020, 03:03:59 PM »
Yes. All is actually based on '20. The government uses '19 or '18 because they don't have the '20 numbers yet.
It's actually a 2020 tax credit which is being prepaid as long as the IRS has your info from a 2018 or 2019 tax return.

Offline churnbabychurn

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Re: Coronavirus Stimulus Aid Package
« Reply #325 on: April 04, 2020, 09:02:46 PM »
Looks like real estate investors are excluded from this PPP loan.

https://www.law.cornell.edu/cfr/text/13/120.110

As confirmed further by the SBA rules clarification [Docket  No. SBA-2020-0015]

Offline sillypainter

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Re: Coronavirus Stimulus Aid Package
« Reply #326 on: April 04, 2020, 09:06:16 PM »
It's actually a 2020 tax credit which is being prepaid as long as the IRS has your info from a 2018 or 2019 tax return.

Who said otherwise?

Offline AsherO

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Re: Coronavirus Stimulus Aid Package
« Reply #327 on: April 04, 2020, 09:21:07 PM »
Looks like real estate investors are excluded from this PPP loan.

https://www.law.cornell.edu/cfr/text/13/120.110

As confirmed further by the SBA rules clarification [Docket  No. SBA-2020-0015]

That includes (or should I say excludes) any LLC whose major asset is a property and major income is rent?

Offline YesThatsMe

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Re: Coronavirus Stimulus Aid Package
« Reply #328 on: April 04, 2020, 11:01:59 PM »
It seems like in NJ, anyone making less than $68,276 is going to getting a nice little raise for being unemployed. For NY, it's $57,804.

Looks like a lot of people are gonna have some interesting conversations with their boss...

Offline justmeha

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Re: Coronavirus Stimulus Aid Package
« Reply #329 on: April 04, 2020, 11:07:49 PM »
It's actually a 2020 tax credit which is being prepaid as long as the IRS has your info from a 2018 or 2019 tax return.
so what happens if you donít owe taxes in 2020?

Offline CountValentine

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Re: Coronavirus Stimulus Aid Package
« Reply #330 on: April 04, 2020, 11:08:34 PM »
so what happens if you donít owe taxes in 2020?
Still file a return.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline justmeha

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Re: Coronavirus Stimulus Aid Package
« Reply #331 on: April 04, 2020, 11:10:21 PM »
Still file a return.
2019 or 2020? Q is if you file just 2020 will it be just a tax credit or will it be a check?

Offline CountValentine

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Re: Coronavirus Stimulus Aid Package
« Reply #332 on: April 04, 2020, 11:15:08 PM »
2019 or 2020? Q is if you file just 2020 will it be just a tax credit or will it be a check?
File for 2019 now should generate a check AFAIK.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline justmeha

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Re: Coronavirus Stimulus Aid Package
« Reply #333 on: April 04, 2020, 11:18:21 PM »
File for 2019 now should generate a check AFAIK.
the problem is that for 2019 they are a dependent

Offline CountValentine

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Re: Coronavirus Stimulus Aid Package
« Reply #334 on: April 04, 2020, 11:23:02 PM »
the problem is that for 2019 they are a dependent
You filed 2019 already?
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline justmeha

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Re: Coronavirus Stimulus Aid Package
« Reply #335 on: April 04, 2020, 11:34:16 PM »

Offline CountValentine

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Re: Coronavirus Stimulus Aid Package
« Reply #336 on: April 04, 2020, 11:54:18 PM »
I have no idea what happens there.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline ah giten

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Offline Let3

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Re: Coronavirus Stimulus Aid Package
« Reply #338 on: April 05, 2020, 01:47:57 AM »
It seems like in NJ, anyone making less than $68,276 is going to getting a nice little raise for being unemployed. For NY, it's $57,804.

Looks like a lot of people are gonna have some interesting conversations with their boss...
What do you mean?
You can get unemployment while you have a job with the above salaries?

Offline yesitsme

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Re: Coronavirus Stimulus Aid Package
« Reply #339 on: April 05, 2020, 01:48:50 AM »
What do you mean?
You can get unemployment while you have a job with the above salaries?
if you were making that money and got fired