First round of stimulus checks deposited today

[theluckyrabbit]

Ours is processing now. As soon as it goes through, it will go right into savings. What with Amazon, grocery deliveries, and tips, we're doing our part to help the economy. It's time to focus on saving for the long term, especially if this goes on as long as Gov. Newsom thinks it will.

 

[HeyIt'sMe]

Ours was deposited today.

 

[MrsCobraBubbles]

Mine just showed up in my bank account this morning, according to the alert my bank sent. I am super excited about it, I told the kids we will spend 1/3 of it and the rest will go into short-term savings to be spent over the summer. I don't collect a paycheck in the summer and finances get tight so I'm looking forward to having a bit extra money to play with. We will also have the extra $1000 that we were planning to spend on our vacation so my son and I were joking that now we'll be able to eat meat more than one night per week!

 

[nkereina]

I received mine today, as did my sister. However, my sister's was short $122. Her and her husband made less than a combined $150,000 in 2019 (they filed their 2019 taxes already) and they have two kids (minors, dependents). They were expecting $3400 and received $3278. Its an odd number. Even if they had deductions for being over the 2019 income threshold, I've read the deductions are occurring in $5 increments, so the $122 doesn't add up. I don't think its the bank withholding something because I have the same bank and none of mine is withheld, and I'm not sure if banks are even permitted to withhold it until it posts. She is going to look more into it, but curious if anyone else has had an issue.

 

[wildride]

It arrived this morning!!! And will be spent on Friday LOL!!

 

[mi*vida*loca]

Got the irs site to update my info. Hopefully I’m in the next batch.

 

[kdonnel]

I received mine today, as did my sister. However, my sister's was short $122. Her and her husband made less than a combined $150,000 in 2019 (they filed their 2019 taxes already) and they have two kids (minors, dependents). They were expecting $3400 and received $3278. Its an odd number. Even if they had deductions for being over the 2019 income threshold, I've read the deductions are occurring in $5 increments, so the $122 doesn't add up. I don't think its the bank withholding something because I have the same bank and none of mine is withheld, and I'm not sure if banks are even permitted to withhold it until it posts. She is going to look more into it, but curious if anyone else has had an issue.

For married filing joint the Treasury must have just calculated it as:

If AGI > 150000
(2400 - ((AGI - 150000) * .05)) + ((# Kids) * 500)
else
2400 + ((# Kids) * 500)

So in your sisters case the IRS must have reported an AGI of 152440 to have reduced it by $122. The AGI is line 8b on the 1040 form for 2019. It is not just what you made in salary but also includes dividends, interest, IRA distributions, etc.

In my case my payment ends in .50 so the Treasury did not even round up or down to a whole $1.

Edited: The formula above does not account for high earners at 198001 and above.

 

[sam_gordon]

Got ours today. Will go to savings. Part will probably go to DD to help pay rent. Living on her own as a student, but we still claimed her on taxes.

 

[wenrob]

DD’s went through close to midnight last night. We weren’t sure she’d get it because of confusing wording about her age group.

 

[nkereina]

For married filing joint the Treasury must have just calculated it as:

If AGI > 150000
(2400 - ((AGI - 150000) * .05)) + ((# Kids) * 500)
else
2400 + ((# Kids) * 500)

So in your sisters case the IRS must have reported an AGI of 152440 to have reduced it by $122. The AGI is line 8b on the 1040 form for 2019. It is not just what you made in salary but also includes dividends, interest, IRA distributions, etc.

In my case my payment ends in .50 so the Treasury did not even round up or down to a whole $1.

Thanks for the explanation!! Could that include 401K distributions as well? Not sure if that falls under the same as IRA. That may explain it.

 

[Searc]

If you're in the group expecting a paper check in the coming weeks, they will be delayed.

 

[kdonnel]

Thanks for the explanation!! Could that include 401K distributions as well? Not sure if that falls under the same as IRA. That may explain it.

AGI would include taxable 401k distributions.

 

[kdonnel]

If you're in the group expecting a paper check in the coming weeks, they will be delayed.

Depends. The media says they are delayed. The Treasury says they are not.

 

[nkereina]

Thanks @kdonnel - appreciate it!

 

[ToddlerMom311]

Got mine today!

 

[pryncess527]

Depends. The media says they are delayed. The Treasury says they are not.

Treasury doesnt actually print them. The IRS does, and theyve said they will be delayed

 

[Disneybuckeye]

Ours arrived this morning. Wasn't expecting anything so it was a nice surprise. Our income was down last year as DH did not get a bonus. Good thing we filed early as we would not have gotten anything if they used 2018 numbers. We were no where near the full amount, but it will at least pay for the Tory Burch sandals I bought yesterday.

Our children all got theirs also. I told them they can pay for their own Party for the Senses tickets (which I am hoping still happens along with our October trip).

We are spending money and tipping well as I do feel for those who need this money much more than we do. They say for every dollar spent in your community generates $6 more in spending by others. Hopefully that happens.

 

[maxaroni]

The Get My Payment option is up on the irs site. I went in and it says it doesn’t have my deposit info. I assume bc I owed in 2019 and paid via debit card. They obviously didn’t pull my 2018 since I had direct deposit then. I tried updating but it kept kicking me out. I’m going to try again later.

I got right in this morning to update. I first tried on my ipad and it didn’t work but then onto my computer and got right in

EDIT; saw you were able to get in.

 

[mi*vida*loca]

I got right in this morning to update. I first tried on my ipad and it didn’t work but then onto my computer and got right in

EDIT; saw you were able to get in.

i tried on my iPhone at first and it didn’t work. I got on my computer and it finally worked.

 

[jesusfreak75]

I tried on my computer and it wouldn't work with Internet Explorer. I changed to Firefox and was able to update my info. Go figure!