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Senate, White House agree $2 trillion coronavirus stimulus ($1200 checks & 4 months of expanded unemployment benefits) Update3: Signed into law!

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Student loan and mortgage information
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    • OP
    OP
    Killthee

    Killthee

    Member
    Oct 25, 2017
    4,169
    Some additional tidbits via CNN:

    Student loan payments suspended

    The Department of Education would suspend payments on student loan borrowers without penalty through September 30, according to the bill.
    CNN reported last week that the Department of Education was planning to allow student loan borrowers to suspend payments without penalty and accruing interest for at least 60 days.
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    Protections against foreclosures and evictions

    The bill includes housing protections against foreclosures on mortgages and evictions for renters.
    The bill states that anyone facing a financial hardship from coronavirus shall be given a forbearance on a federally backed mortgage loan of up to 60 days, which can be extended for four periods of 30 days each. The legislation says that servicers of federally backed mortgage loans may not begin the foreclosure process for 60 days from March 18.

    The bill also does not allow fees, penalties or additional interest to be charged as a result of delayed payments. It includes similar protections for those with multifamily federal mortgage loans, allowing them to receive a 30-day forbearance and up to two 30-day extensions.
    Those with federally backed mortgage loans who have tenants would also not be allowed to evict tenants solely for failure to pay rent for a 120-day period, and they may not charge fees or penalties to tenants for failing to pay rent.
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    www.cnn.com

    What's in the $2 trillion coronavirus stimulus bill

    Congressional lawmakers put the finishing touches on a $2 trillion stimulus bill to respond to the coronavirus pandemic, with cash and assistance for regular Americans, Main Street businesses and hard-hit airlines and manufacturers, among others.
    www.cnn.com www.cnn.com

    The student loan part likely only applies to federal loans.
     
    Last edited:
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    • Phonzo

    Phonzo

    Member
    Oct 26, 2017
    4,817
    how does UI work? is it a flat $600 a month extra?

    Can the UI and unemployment surpass your actual salary?
     
    HeyNay

    HeyNay

    Banned
    Oct 27, 2017
    2,495
    Somewhere
    TeddieBear said:
    I just heard in the radio that only citizens will be getting a check. Is that true?
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    www.cnbc.com

    Congress passes plan to send taxpayers $1,200 checks in coronavirus aid. How to get yours

    U.S. lawmakers finalized a sweeping new $2 trillion stimulus bill that includes checks for individual Americans. Here's how much you may expect to receive to help offset the coronvirus's pinch on your wallet.
    www.cnbc.com www.cnbc.com

    It says here that it excludes nonresident alients. So I imagine if you are a permanent resident, or otherwise have a social security number, you'd be included.
     
    Freezasaurus

    Freezasaurus

    Member
    Oct 25, 2017
    57,001
    So is this $1200 check going to be a thing I have to sign up for, or will they just send it to me automatically. I filed in 2018 and they already have my direct deposit info.
     
    Kayotix

    Kayotix

    Member
    Oct 25, 2017
    2,312
    Glad it got done finally.

    Wife is a stay at home mom that works part time and lost her income to this. I'm glad I make enough to support us so this will be a nice boost.
     
    Commedieu

    Commedieu

    Banned
    Nov 11, 2017
    15,025
    Do you get money for your child no matter what? Or if you're over 99k. You get nothing because you can just sell one of your islands made of gold?
     
    Bakercat

    Bakercat

    Member
    Oct 27, 2017
    10,154
    'merica
    HeyNay said:
    www.cnbc.com

    Congress passes plan to send taxpayers $1,200 checks in coronavirus aid. How to get yours

    U.S. lawmakers finalized a sweeping new $2 trillion stimulus bill that includes checks for individual Americans. Here's how much you may expect to receive to help offset the coronvirus's pinch on your wallet.
    www.cnbc.com www.cnbc.com

    It says here that it excludes nonresident alients. So I imagine if you are a permanent resident, or otherwise have a social security number, you'd be included.
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    Good to see us on Social Security will get help as well.
     
    Starmud

    Starmud

    Member
    Oct 27, 2017
    1,443
    Section 2102. Pandemic Unemployment Assistance

    This section creates a temporary Pandemic Unemployment Assistance program through December 31, 2020 to provide payment to those not traditionally eligible for unemployment benefits (self-employed, independent contractors, those with limited work history, and others) who are unable to work as a direct result of the coronavirus public health emergency
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    Being self employed, im happy... but I'm not understanding how they could implement this given the constraints of information and how eligibility for these programs usually work. the language makes it sound like you just need to show somehow you've been harmed financially by the pandemic. how that works out in applying... we will see,
     
    Barzul

    Barzul

    Member
    Oct 25, 2017
    1,965
    Have to look up my AGI for 2019, so I can know how much we'll be getting, you'd think the a Turbo Tax app would make it easy smh. Our income was too high for the full amount but I'm going to look at how I can support local businesses that were affected by this.
     
    Doogdogg

    Doogdogg

    Member
    Oct 27, 2017
    753
    My sister work for a hair salon. It is force to closed as it is non essential. It pays her as a contracted employee (1099), which the government treat it as self employed. They're not paying her anything while it is closed. Can she get UI?
     
    AlexFlame116

    AlexFlame116

    Prophet of Truth - One Winged Slayer
    Member
    Nov 17, 2017
    23,182
    Utah
    So wait I've been rereading multiple times. Should I finish my taxes now then? Cause I've been waiting for a job to send me the W2 but they never did.

    And only citizens or do residents get it? My grandparents are citizens but were forced into retirement. I'm still a resident.
     
    OP
    OP
    Killthee

    Killthee

    Member
    Oct 25, 2017
    4,169
    Commedieu said:
    Do you get money for your child no matter what? Or if you're over 99k. You get nothing because you can just sell one of your islands made of gold?
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    This was the chart floating around for the $0 refund cutoff points for the numbers in the draft version of the bill. Final bill appears to have the same cutoffs, full text ain't out yet though.

    REVISED.png


    taxfoundation.org

    Congress Approves Economic Relief Plan for Individuals and Businesses

    On Friday afternoon, the Coronavirus Aid, Relief and Economic Security (CARES) Act passed the House of Representatives by a voice vote. The bill now moves to the President for signature.
    taxfoundation.org taxfoundation.org
     
    Commedieu

    Commedieu

    Banned
    Nov 11, 2017
    15,025
    Killthee said:
    This was the chart floating around for the $0 refund cutoff points for the numbers in the draft version of the bill. Final bill appears to have the same cutoffs, full text ain't out yet though.

    REVISED.png


    taxfoundation.org

    Congress Approves Economic Relief Plan for Individuals and Businesses

    On Friday afternoon, the Coronavirus Aid, Relief and Economic Security (CARES) Act passed the House of Representatives by a voice vote. The bill now moves to the President for signature.
    taxfoundation.org taxfoundation.org
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    Hmm. I'll have my live in assistants go over these numbers.
    Thanks tho.
     
    chezzymann

    chezzymann

    Banned
    Oct 25, 2017
    4,042
    So for some reason i checked off "can be claimed as a dependent" in 2018 but no one claimed me as a dependent, I'm 25 and have a full time job so would that mean im not a dependent and could still get it or does checking that box of fuck me over for some weird reason
     
    Doogdogg

    Doogdogg

    Member
    Oct 27, 2017
    753
    chezzymann said:
    So for some reason i checked off "can be claimed as a dependent" in 2018 but no one claimed me as a dependent, I'm 25 and have a full time job so would that mean im not a dependent and could still get it or does checking that box of fuck me over for some weird reason
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    You have to be disabled or in school at age 25 to be claimed as a dependent.
     
    Zoe

    Zoe

    Member
    Oct 25, 2017
    14,264
    chezzymann said:
    So for some reason i checked off "can be claimed as a dependent" in 2018 but no one claimed me as a dependent, I'm 25 and have a full time job so would that mean im not a dependent and could still get it or does checking that box of fuck me over for some weird reason
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    You've already been screwed over by checking that box. You should file an amendment and make sure you're not owed money.

    Try to sneak your 2019 in before this all done.


    Doogdogg said:
    You have to be disabled or in school at age 25 to be claimed as a dependent.
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    No, pretty much anybody making under a certain threshold can be claimed by someone covering their living expenses.
     
    GYODX

    GYODX

    Member
    Oct 27, 2017
    7,244
    Anyone here familiar with tax law? I'm curious as to how this works out for residents of Puerto Rico. I'm not too familiar with how taxes work wrt. to Puerto Rico as I've only ever filed here in the US.

    I've never heard of Puerto Ricans filing federal taxes, only state taxes. They don't pay federal income tax, but do pay into Social Security and Medicare via payroll. So how does that work out? Would the rebates be based off of the state tax filings in this case?
     
    lurksalot

    lurksalot

    Avenger
    Oct 30, 2017
    180
    My wife's employer (small business) asked employees to take a 20% pay cut before the bill was signed. Would she be eligible to collect the lost wages via unemployment now due to the bill?
     
    PrivateWHudson

    PrivateWHudson

    Member
    Oct 25, 2017
    3,215
    Doogdogg said:
    My sister work for a hair salon. It is force to closed as it is non essential. It pays her as a contracted employee (1099), which the government treat it as self employed. They're not paying her anything while it is closed. Can she get UI?
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    In Pennsylvania, and my wife's situation is similar. Not a contracted employee, but 100% commission. She filed last week and got the approval letter in the mail today. She was furloughed, not laid off.
     
    TaySan

    TaySan

    SayTan
    Member
    Dec 10, 2018
    31,451
    Tulsa, Oklahoma
    I'm just waiting for my boss to finally give me the news to lay me off. I don't want to ask her to lay me off asap because I think that would be rude. I loved this job and its nothing personal, but I need to look after myself.
     
    sensui-tomo

    sensui-tomo

    Attempted to circumvent ban with alt account
    Banned
    Oct 25, 2017
    4,629
    some jackasses on the senate hearing complaining that the unemployment funds are too much..... How about raising the fucking wage of everywhere else.
     

    Deleted member 135

    User requested account closure
    Banned
    Oct 25, 2017
    11,682
    Man if this bill actually passes the Senate and House Democrats end up blocking it I will be so fucking pissed.

     
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