@ceasesmith wrote:

Looks like you may also file for unemployment, as it's supposedly expanded to cover ICs and "gig" workers.

And remember, that $1200 is not a gift. It's an "early tax rebate", which I interpret to be a tax refund on this calendar year's taxes. We'll have to pay it back next year.



That, however, is merely my interpretation. And I remember having to repay the "stimulus money" in 2008.

@grille wrote:

From my understanding only gig workers for certain organizations will be able to file unemployment (i.e. Uber, Doordash etc...). Anyone else had to have a qualifying job for an organization that paid into the unemployment insurance funds.

@HonnyBrown wrote:

Isn't unemployment insurance...as in employers pay a premium so affected employees get paid if they are let go? Would would we, as ICs, be eligible?

@LisaSTL wrote:

You haven't been paying attention The stimulus bill includes provisions for 1099 workers to get temporary unemployment.

@coolpurple wrote:

I file my taxes. My regular income and then a decent amount of 1099 generated MSC money. I pay taxes on the 1099 dollars. I don't think I can receive unemployment money in my state, NY, as a "contractor". But on my Federal and State income taxes I file a portion as a business, minus some incidental expenses, and pay taxes on the balance. Outside of the $1200 one time check do I qualify somewhere along the line for lost income? There are no more available shops in my area and I work for appx 15 MSCs so I'm not turning down business.

@ wrote:

Stimulus Payments
How large would the payments be?

Most adults would get $1,200, although some would get less. For every qualifying child age 16 or under, the payment would be an additional $500.

How many payments would there be?

Just one. Future bills could order up additional payments, though.

How do I know if I will get the full amount?

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It depends on your income. Single adults with Social Security numbers who are United States residents and have an adjusted gross income of $75,000 or less would get the full amount. Married couples with no children earning $150,000 or less would receive a total of $2,400. And taxpayers filing as head of household would get the full payment if they earned $112,500 or less.

Above those income figures, the payment decreases until it stops altogether for single people earning $99,000 or married people who have no children and earn $198,000. According to the Senate Finance Committee, a family with two children would no longer be eligible for any payments if its income surpassed $218,000.

You can’t get a payment if someone claims you as a dependent, even if you’re an adult. In any given family and in most instances, everyone must have a valid Social Security number in order to be eligible. There is an exception for members of the military.

You can find your adjusted gross income on Line 8b of the 2019 1040 federal tax return.

@ wrote:

Would I have to apply to receive a payment?

No. If the Internal Revenue Service already has your bank account information, it would transfer the money to you via direct deposit based on the recent income-tax figures it already has.

When would the payment arrive?

Treasury Secretary Steven Mnuchin said he expected most people to get their payments within three weeks.

@ wrote:

Would most people who are receiving Social Security retirement and disability payments each month also get a stimulus payment?

Yes.

Would eligible unemployed people get these stimulus payments? Veterans?

Yes and yes.

Do I have to pay income taxes on the amount of my payment?

No.

If my income tax refunds are currently being garnished because of a student loan default, would this payment be garnished as well?

No. In fact, the bill temporarily suspends nearly all efforts to garnish tax refunds to repay debts, including those to the I.R.S. itself. But this waiver may not apply to people who are behind on child support.

Unemployment Benefits
Who would be covered by the expanded program?

The new bill would wrap in far more workers than are usually eligible for unemployment benefits, including self-employed people and part-time workers. The bottom-line: Those who are unemployed, are partly unemployed or cannot work for a wide variety of coronavirus-related reasons would be more likely to receive benefits.

@ wrote:

Unemployment Benefits
Who would be covered by the expanded program?

The new bill would wrap in far more workers than are usually eligible for unemployment benefits, including self-employed people and part-time workers. The bottom-line: Those who are unemployed, are partly unemployed or cannot work for a wide variety of coronavirus-related reasons would be more likely to receive benefits.

How much would I receive?

It depends on your state.

Benefits would be expanded in a bid to replace the average worker’s paycheck, explained Andrew Stettner, a senior fellow at the Century Foundation, a public policy research group. The average worker earns about $1,000 a week, and unemployment benefits often replace roughly 40 to 45 percent of that. The expansion would pay an extra amount to fill the gap.

Under the plan, eligible workers would get an extra $600 per week on top of their state benefit. But some states are more generous than others. According to the Century Foundation, the maximum weekly benefit in Alabama is $275, but it’s $450 in California and $713 in New Jersey.

So let’s say a worker was making $1,100 per week in New York; she’d be eligible for the maximum state unemployment benefit of $504 per week. Under the new program, she gets an additional $600 of federal pandemic unemployment compensation, for a total of $1,104, essentially replacing her original paycheck.

States have the option of providing the entire amount in one payment, or sending the extra portion separately. But it must all be done on the same weekly basis.

Are gig workers, freelancers and independent contractors covered in the bill?

Yes, self-employed people would be newly eligible for unemployment benefits.

Benefit amounts would be calculated based on previous income, using a formula from the Disaster Unemployment Assistance program, according to a congressional aide.

Self-employed workers would also be eligible for the additional $600 weekly benefit provided by the federal government.

What if I’m a part-time worker who lost my job because of a coronavirus reason, but my state doesn’t cover part-time workers? Would I still be eligible?

Yes. Part-time workers would be eligible for benefits, but the benefit amount and how long benefits would last depend on your state. They would also be eligible for the additional $600 weekly benefit.

What if I have Covid-19 or need to care for a family member who has it?

If you’ve received a diagnosis, are experiencing symptoms or are seeking a diagnosis — and you’re unemployed, are partly unemployed or cannot work as a result — you would be covered. The same goes if you must care for a member of your family or household who has received a diagnosis.

What if my child’s school or day care shut down?

If you rely on a school, a day care or another facility to care for a child, elderly parent or another household member so that you can work — and that facility has been shut down because of coronavirus — you would be eligible.

@bgriffin wrote:

@ceasesmith wrote:

Looks like you may also file for unemployment, as it's supposedly expanded to cover ICs and "gig" workers.

And remember, that $1200 is not a gift. It's an "early tax rebate", which I interpret to be a tax refund on this calendar year's taxes. We'll have to pay it back next year.



That, however, is merely my interpretation. And I remember having to repay the "stimulus money" in 2008.

I'm not sure any of this is the case.

Unemployment being expanded to cover self employed wouldn't be a factor in this case. If the OP has lost their full time job then they probably will max out unemployment. If they have not lost their job they will not be eligible for unemployment.

As for the $1200 stimulus check, you are correct that the last one was an early tax rebate but I'm fairly certain this one is not.

@ wrote:

What if my recent income made me ineligible, but I anticipate being eligible because of a loss of income in 2020? Do I get a payment?

The bill does not help people in that circumstance now, but you may benefit once you file your 2020 taxes. That’s because the payment is technically an advance on a tax credit that is available for the entire year. So it will depend on how much you earn.

Meanwhile, there are many other provisions in the legislation. You may be able to file for unemployment or for one of the new loans for small-business owners or sole proprietors.

@1forum1 wrote:

No, you do not have to pay it back. If you get the $1200 this year, you don't even have to pay taxes on it next year. It is essentially a tax credit, paid in advance. If you do not get the $1200 this year, you would actually deduct your taxable income (as a tax credit) by $1200 next year. Of course, these scenarios assume one qualifies in the first place.