Are you sure it's not some scam where they then ask you to return the money transferred "by mistake" but also cancel the transfer??

Nothing in my credit union acct. Oh well

Anonymous wrote:

Anonymous wrote:I thought the checks were supposed to start with the people who have the lowest incomes. Is that only for people getting actual checks vs direct deposit?

That's only for being who aren't getting direct deposit. Those physical checks will be sent in the mail in waves - I heard they'll send out 5,000 physical checks a week which is why its tiered by income.

Yes those who filed 2018 taxes or 2019 taxes and received a refund via direct deposit will be in the first batch due to have their stimulus deposits by 4/15. After that, based on who completes the on-line form or a mailed form that is returned, will be processed by income level. The first week will be roughly those who make less than $10K. The second week, roughly those that make under $20K annually, etc. If a form comes in for someone who makes under the current limit, they are supposed to be processed in the next batch of stimulus checks sent out.

And PP, you are off by three orders of magnitude. They are sending out roughly 5M checks a week, not 5K. There are roughly 143M tax payers in the US and roughly 327M citizens. At the rate of 5K per week, most people would be retired before they got their checks. As it is with 5M sent out a week, those in the highest earning tiers who did not have a direct deposit refund filed for 2018 or 2019 will likely not get their stimulus checks until September or October.

Probably more incompetence at the top. No surprise there

I thought it was agi 150k

Nothing yet. I’m HoH with a 2019 AGI of $88,000. DD is a dependent, but 20, so nothing for her.

Mine is pending in my credit union account with a release date of the 15th. $2,200

Anonymous wrote:Haven't gotten my direct deposit yet - but I've heard the pending IRS stimulus checks are in at credit unions for friends.

Perhaps the big banks are taking longer to process as they have more accounts.

My. direct deposit (payroll and tax refunds) has been through Navy Fed for 20 years and nada so far. I'm expecting $1700 as a HoH filer.

Anonymous wrote:PP here. I was wrong. Student loan interest repayment is a special category and does lower your AGI.

So yes, OP that probably counted toward it. Do you have a lot of loans you are paying off slowly?

Yes, about 75k

Anonymous wrote:Where’s mine

Everyone who's getting direct deposit is expected to have it by the 15th.

Where’s mine

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How much over $100k? It’s based on AGI not gross salary.

Oh okay... I don't know what our AGI was, but my gross salary was a hair over 100k in 2018- Like 101k and my husband's was about 118k. But again, I don't know what his AGI was. Now I'll go and look at the tax documents. I didn't look before because I assumed that we weren't getting anything. I literally just check my account to pay other bills and saw the surprise direct deposit

At 101K assuming you aggressively did things like fund your 401k you should get something.

So maybe 401k and student loan interest deductions? Still a mystery, but I'll take it!

Student loan interest deductions are a deduction and have no impact on your AGI.

The ways to reduce AGI are:
Pre tax 401k or 403b deductions
Tax loss harvesting/losses on investments
If you have your own business, you take a loss on it (e.g., you have a farm that you take a loss on)

I was wrong about student loan interest. Do you have a massive loan that you're paying off slowly? If so, the interest could be quite a lot.

It caps at $2500 and has an income limit the OP is well over, so you’re just spewing nonsense and misinformation at this point.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How much over $100k? It’s based on AGI not gross salary.

Oh okay... I don't know what our AGI was, but my gross salary was a hair over 100k in 2018- Like 101k and my husband's was about 118k. But again, I don't know what his AGI was. Now I'll go and look at the tax documents. I didn't look before because I assumed that we weren't getting anything. I literally just check my account to pay other bills and saw the surprise direct deposit

At 101K assuming you aggressively did things like fund your 401k you should get something.

So maybe 401k and student loan interest deductions? Still a mystery, but I'll take it!

Student loan interest deductions are a deduction and have no impact on your AGI.

The ways to reduce AGI are:
Pre tax 401k or 403b deductions
Tax loss harvesting/losses on investments
If you have your own business, you take a loss on it (e.g., you have a farm that you take a loss on)

I was wrong about student loan interest. Do you have a massive loan that you're paying off slowly? If so, the interest could be quite a lot.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How much over $100k? It’s based on AGI not gross salary.

Oh okay... I don't know what our AGI was, but my gross salary was a hair over 100k in 2018- Like 101k and my husband's was about 118k. But again, I don't know what his AGI was. Now I'll go and look at the tax documents. I didn't look before because I assumed that we weren't getting anything. I literally just check my account to pay other bills and saw the surprise direct deposit

At 101K assuming you aggressively did things like fund your 401k you should get something.

So maybe 401k and student loan interest deductions? Still a mystery, but I'll take it!

Student loan interest deductions are a deduction and have no impact on your AGI.

The ways to reduce AGI are:
Pre tax 401k or 403b deductions
Tax loss harvesting/losses on investments
If you have your own business, you take a loss on it (e.g., you have a farm that you take a loss on)

That is not true. It does lower your AGI up to $2500 if you meet a certain income limit. But OP is above the gross income limit, so it shouldn’t be relevant to HER AGI. But it’s not true to say that it doesn’t for some filers.

Also, HSAs.