THE
THE FEDERAL GOVERNMENT HAS NOW SENT OUT A REPORTED 804@ MILLION STIMULUS CHECKS.
>> HERE ARE T4@HREE THINGS TO
KNOW4@ ROUND WENT TO PEOPLE WHO
ALREADY HAD THEIR DIRECT
DEPOSIT INFORMATION4@ ON FILE.
@ THE SECOND ROUND WILL GO TO
PEOPLE WHO RECENTLY4@ GAVE THE
IRS THEIR ACCOUNT INFORMATION4@@
AND THE IRS IS ALSO EXPECTED TO
MAIL OUT THE FIRST ROUND OF4@
PAPER CHECKS THIS WEEK.
THEY'LL GO TO THE LOWEST INCOME
AMERICANS FIRST.
AND WE HAVE GOTTEN HUNDREDS4@ AD
HUNDREDS OF QUESTIONS FROM YOU
ABOUT THE STIMULUS CHECK.
SO RYTHYM WILHOIT4@ TOOK SOME OF
THE MOST FREQUENTLY ASKED
QUESTIONS TO A FINANCIAL EXPERT
.
>> WHAT HAPPENS IF SOMEONE
PASSES AWAY A FEW WEEKS BEFORE
THE STIMULUS PAYMENTS COME OUT4@
WITH THE NEXT OF KIN BE
ENTITLED TO IT OR FOR THE
DEPENDENTS?
>> THAT'S ACTUALLY A REALLY
INTERESTING QUESTION4@.
BACK IN 2010, WHICH WAS THE
LAST STIMULUS CHECKS THAT WENT
BACK IN 2010, WHICH WAS THE LAST STIMULUS CHECKS THAT WENT4@ OUT4@, THE GOVERNMENT TOLD US
AFTER THE FACT THERE WERE OVER
70000 THOUSAND CHECKS SENT THE
PEOPLE WHO WERE ALREADY
DECEASED4@ AND SO ABOUT FORTY
THOUSAND PEOPLE SENT THE CHECKS
BACK BECAUSE THEY DIDN'T KNOW
WHAT TO DO4@.
IT DEPENDS IF THERE'S AN ESTATE
ACCOUNT THAT'S STILL OPEN THEN
THAT MONEY COULD BE DEPOSITED
INTO THAT4@ ESTATE ACCOUNT.
AUTHORIES THAT A SURVIVING
SPOUSE MONEY COULD OBVIOUSLY BE
THAT WAY.
MY GUESS IS YOU PRETTY QUICKLY
GET INTO A REAL CERTAIN4@ CPA OR
ATTORNEY KIND OF A QUESTION AS
TO HOW YOU HANDLE THAT WELL4@
ANYONE WITH STUDENT LOAN DEBTS
GET A STIMULUS CHECK.
>> YES.
THE ONLY4@ ABILITY FOR THE
GOVERNMENT TO ALTER THE
EMMALYNN4@ THAT YOU'RE GETTING S
IF YOU DON'T MEET THEIR4@ INCOME
THRESHOLD.
IF YOU MAKE TOO MUCH MONEY OR
IF YOU ARE BEHIND CHILD SUPPORT
,THERE ARE ONLY TWO REASONS.
STIMULUS4@ MONEY CAN'T BE
GARNISHED BY ANY ABOUT INTYRE.
IT DOESN'T MATTER ANY KIND OF
STUDENT LOAN DEBT.
SO THE ONLY TWO REASONS ARE
BACK CHILD4@ SUPPORT OR IF YOU
DON'T MEET THE QUALIFICATIONS.
>> THE4@ CHECKS IN ADVANCE THAT
WILL BE DEDUCTED FROM NEXT
YEAR'S INCOME TAX RETURN.
AND DOES THIS MEAN4@ I WON'T GET
A TAX REFUND NEXT YEAR?
>> SO4@ IT IS AN ADVANCE CREDIT
THAT WILL FLOW THROUGH4@ YOUR 20
20 TAX RETURN BUT IT IS TRULY
UNIQUE.
IT'S AN4@ ADDITIONAL THING.
SO IT WILL BE MONEY THAT YOU
GET NOW.
IT REALLY WON'T HAVE ANY IMPACT
ON WHAT YOUR REFUND STATUS
MIGHT HAVE BEEN BECAUSE IT'S A
SEPARATE4@ ADVANCE.
IF YOU HAVE A DISABLED ADULT
WHO LIVES IN THE HOME WITH THE
PARENTS AND THEY CLAIM THEM ON
THEIR TAXES, DOES THE DISABLED
PERSON GET THE STIMULUS4@?
SO IF YOU ARE OVER 17 YOUR
PERSON GET THE STIMULUS4@? SO IF YOU ARE OVER 17 YOUR4@ YOU'RE 17 OR OLDER AND YOU ARE
BEING CLAIMED AS A DEPENDENT4@ N
ANYONE ELSE'S TAX RETURN, YOU
WILL NOT GET STIMULUS4@.
MY PARENTS ARE IN A NURSING
HOME AND BACK THAT GETS THEIR
SOCIAL SECURITY AND MY DAD'S4@
RETIREMENT EXCEPT FOR FIFTY
DOLLARS FOR EACH OF THEM EACH
MONTH4@.
I WAS WONDERING IF THEY
QUALIFIED FOR A STIMULUS CHECK
AS WELL.
>>4@ YES THEY SHOULD.
AGAIN THE ONLY WAY THE ONLY
REASONS THE STIMULUS MONEY CAN
CAN BE4@ RE APPROPRIATED WOULD E
BAD CHILD SUPPORT.
4@THAT'S REALLY THE ONLY REASON
SO YES THEY WOULD CALL IT.
MY SON IS 20 AND HAS WORKED
FULL TIME A FEW YEARS NOW.
4@ME AND HIS FATHER CLAIMED HIM
ON OUR TAXES AS A DEPENDENT.
WILL MY SON ALSO GET HIS OWN
CHECK FOR TWELVE HUNDRED
TELLING ME THAT ALOOK OF THE 17@
OR OLDER I HAVE TWO TO MY OWN
CHILDREN WHO WERE DISAPPOINTED
IN THE IF HE AGAIN IF YOU'RE
OVER 17 AND YOUR CLAIM BY
ANYONE FOR ANY REASON THEN YOU
ARE OFF THE LIST4@4@.
>> NEXT QUESTION.
IF YOU OWED TAXES LAST YEAR OR
ARE IN AN INSTALLMENT PLAN WITH
THE IRS HOW WOULD YOU RECEIVE
THE STIMULUS MONEY?
>> YOU4@ WILL RECEIVE THE
STIMULUS MONEY JUST LIKE ANYONE
ELSE.
AGAIN, UNLESS YOU4@ ARE IN A BAK
CHILD SUPPORT4@ SITUATION,
STIMULUS MONEY WILL FLOW FOR
SOMEONE AN INSTALLMENT PLAN
JUST AS IT WOULD FOR ANYONE4@.
>> AND ONE LAST QUESTION.
I'VE NOT FILED4@ MY 2019 TAXES
YET BECAUSE I ALSO HAD TO PAY
TAXES ON MY TWO THOUSAND
EIGHTEEN RETURN WHICH WAS PAID4@
BY E F T FROM MY BANK ACCOUNT.
WILL THE IRS4@ USE THIS BANK
ACCOUNT AND DIRECT DEPOSIT THE
MONEY OR WILL I GET A PAPER
ACCOUNT AND DIRECT DEPOSIT THE MONEY OR WILL I GET A PAPER4@ CHECK?
>> IT'S A GOOD QUESTION AND IT
GETS INTO ONE OF THOSE NUANCES
THAT WE DON'T SEE SPECIFIC
GUIDANCE4@ ON.
I WOULD GO TO THE IRS WEBSITE
ANYONE WHO DOUBTS THE VALIDITY
OF THEIR DIRECT DEPOSIT.
THERE'S A LITTLE4@ TOO ON THE IS
WEBSITE THAT YOU CAN GO IN AND
UPDATE4@ ADDRESS YOUR BANK
ACCOUNT INFORMATION, THINGS
LIKE THAT TO MAKE IT AS EASY AS
POSSIBLE FOR THE IRS TO PROCESS
THESE