Questions tagged [covid-19]

COVID-19 is an infectious disease caused by a coronavirus discovered in Wuhan, China, in December 2019. The worldwide outbreak of the virus in the beginning of 2020 has led to severe global socioeconomic disruption and is expected to have major implications on world economy for years to come.

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113 views

Is it possible to receive money from the IRS with someone else's bank details?

As an expat living in Sweden I would like to claim my CARES stimulus money. I am (legally) a non-filer and would like to submit my bank details to the IRS so that they can send my CARES stimulus check ...
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Accidentally filed my taxes using TurboTax as a US citizen while I'm not

This is about an F-1 International student since 09/2019 and it concerns the 2019 tax year. I did my taxes properly and filed them by mail. A lot of time had passed and I couldn't even find my status ...
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My dentist charged me for PPE and my insurance won't cover it. Can I use my FSA to pay for it?

I recently visited my dentist for my semi-annual checkup. The checkup is covered by my insurance, but when I reviewed the EOB after the visit I noticed a $20 charge with code D1999/Unspecified that my ...
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Should I focus on repaying private or federal student loans during Covid-19 and CARES act?

The CARES act puts the interest rate for federal student loans at 0% until December 30th and there are no mandatory payments for student loans until that time. I owe $32,000 in federal loans, normally ...
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CARES Act 401k withdrawal requirements - Is this a hardship?

From my understanding, financial hardships related to COVID-19 can qualify an individual to withdraw money from their 401k, with literally no penalty so long as it is repayed to a similar retirement ...
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What business qualify under SBA PPP program?

If an Small Business lost money as a result of regulations to social distance, but still has assets to pay wages, does it qualify to borrow money from banks and receive loan forgiveness to fund the ...
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2answers
210 views

Is COVID-19 used car deals and lease renegotiation really a thing?

I have been reading that due to the COVID-19 pandemic, auto inventories are high and dealers often do not want lease returns. Wholesale auction prices are reportedly plummeting even as of a couple ...
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How to contact SBA regarding COVID19 loans?

I called SBA today on 415 744 6820 regarding a delicate PPP loan situation I am having. Over phone they delegated me to NorcalSBDC.org website (note the lack of .gov). And then they further delegated ...
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Dependent in 2019 and 2020 but not in 2018. Stimulus received. Does it have to be returned

An individidual was not a dependent in 2018. She is in 2019 and 2020, but she received her stimulus funds before 2019 taxes were filed. Is she required to return the funds?
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When does 7-1 (or 5-1) ARM make sense for mortgage?

I have seen previous questions from close to 6-8 years ago on this subject and so I am asking here for: relevance to 2020 (esp in the context of historic low rates and Covid-19) from an inverted ...
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Are employers who got their PPP loan on a later date better off than those who got it early?

My understanding is that payroll expenses that would be eligible for PPP loan forgiveness must be incurred immediately within the next 8 weeks when PPP funds appeared in the employer's bank account. ...
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93 views

1st stimulus check

I was wrongfully claimed as a dependent in 2018. In 2019, I filed my taxes as head of household on 4/7/20. I received my refund exactly 8 days later and according to the IRS website my 2019 tax return ...
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135 views

I'm employed with a good salary - when should I file for unemployment?

Due to the current pandemic & its economic effects my employer has recently cut back on salary by ~6%. Personally this has not caused any harm, but I want to be prepared in case things get worse ...
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Are there any penalties when selling my stocks and withdrawing from my ROTH IRA during the 2020 COVID Crisis in May?

I know there is a penalty if I withdraw if I'm under 59 years old. But was there a new law that took effect to let us sell and withdraw from our ROTH IRA without a penalty or tax liability?
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Who is going to pay for the October furlough (UK) and ~1K/week (USA)? [closed]

Forgive me if this seems like a dumb question but I'm serious. Could someone point me to an answer? A US economist friend of mine told me "no, they won't raise taxes because they want to stimulate ...
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Can I contribute to two different calendar years in an IRA?

I noticed that my broker allows me to contribute to both 2020 and 2021. I have already maxed out my 2020 IRA contributions. Since I cannot deduct anything from my income via these contributions due to ...
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Is preschool closure (due to the pandemic) a qualifying event for Dependent Care FSA?

I'm trying to figure out of closure of my daughter's preschool meets the qualifying event criteria so that I can reduce my dependent care FSA contributions. I've read a few places online that change ...
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Economic stimulus payment for a resident alien

Let me mention first that I was a non-resident alien for tax years 2018 and 2019, and I am considered a resident alien for 2020 taxes. Today I have received a stimulus payment check because I have ...
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96 views

SIP returns are negative due to COVID-19

Today, I checked all of my SIP accounts. I was shocked to see that the absolute returns for all of the schemes that I have been doing for the past 5 years are negative. It is because of COVID-19. ...
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How do I know when my applications for disaster relief loans have been approved?

I applied to all 3 programs as I have a business in NYC: SBA EIDL - Economic Injury Disaster Loan Emergency Advance PPP - Paycheck Protection Program NYC Small Business Continuity Program I think I ...
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1answer
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Did not qualify in 2018 for stimulus but did upon filing 2019, after stimulus started

My 2018 tax return had an Adjusted Gross Income that made me ineligible for the Economic Impact Payment (EIP) stimulus check. I filed my 2019 taxes after the stimulus checks were already being sent ...
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322 views

PPP loan for business owner who “converted” 1099 contractors to w-2 employees starting from 2020?

Due to AB-5 bill passage many small business owners in California reclassified Independent workers (1099) as Employees (w-2) starting from January 1st 2020. Now when filing the PPP loan application ...
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Wondering if I’m eligible for the stimulus

I was claimed as a dependent on 2018 taxes and I didn’t file for 2019. I applied for the stimulus as a non filer and was accepted, but am I eligible? I was not claimed for 2019. I applied over a week ...
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Why did the stock price go down for so many sectors during the COVID-19? [closed]

Consider an airline like Air Canada whose share price dropped to almost half in the past two months. Stock prices change with supply and demand so many more people must have been selling the shares ...
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Can I file my 2019 taxes electronically if I already sent them by mail?

I put my 2019 taxes in the mail in early March, before everything shut down. Checking the IRS website, it doesn't seem like my taxes have been processed, and I know they have stopped processing paper ...
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Stimulus and adult parental dependent claimed for 2019 [duplicate]

Can I amend my 2019 return to remove my parent as a dependent so they can get stimulus check? I know that it says that if an adult "can" be claimed as a dependent than they aren't eligible but how ...
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430 views

W-4 Second Job Question

With the whole COVID-19 thing happening a lot of my financing and paper work on stuff is a little complicated right now. I'm also pretty inexperienced with this stuff because I've only ever held a ...
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76 views

I became a permanent resident in Jan. 2020 but I do not have a Social Security card. Can I still get the stimulus check?

I became a permanent resident in January, 2020. But I do not have a Social Security card. Can I still get the stimulus check?
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90 views

Stimulus not received to date

I receive SSI via direct deposit also received 2018 SSA-1099 benefit statement. To date I have not receive stimulus. I filled out pertinent info for "My Payment" on the IRS website it stated I did not ...
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157 views

How to send back the CARES payment of COVID-19 to IRS as non-resident

I am a non-resident alien who working in the US. I received the CARES payment ($1200) of the COVID 19 by direct deposit from IRS, while I know that as a non-resident, I am not eligible to receive. ...
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70 views

Do I meet stimulus check eligibility standards?

My last year to file an income tax form was 2017, as my CPA informed I no longer made enough (retired) to make filing necessary. My only income now is my monthly Social Security disability check for $...
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27 views

Stimulus Check Dependent Question [duplicate]

In 2018, I was able to be claimed as a dependent, as listed on my tax return, but my parents didn’t claim me in 2018, in 2019 I was no longer a dependent. Will I receive the check?
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Australian JobSeeker Eligibility for Kiwis living in NZ running Australian sole trader businesses?

I used to live in Australia. I started a small business, set up as a sole trader, still run the company but have lived in New Zealand for 12 months now. The new Jobkeeper fund allows for sole traders ...
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188 views

Does claiming my parents as dependents keep them from getting a stimulus check?

I claimed my parents as dependent for 2019 tax return. They are receiving SSA pension and are eligible for EIP/stimulus check. Since I had claimed them on my tax return, did I just make them ...
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110 views

Why did I get $1200 stimulus check? Was a resident alien for tax but moved out of US in Nov 2019

I was a student on a visa in the US and was also working at the university from 2012 to Nov 2019. I then moved out of the US at the end of Nov 2019. Officially, I'm still a student at my US university ...
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1answer
126 views

Would a retiree get the covid19 stimulus payment?

I have been retired for years, I pay income tax every year on IRA withdrawals and social security income. I don't need the stimulus or think I should get it but my wife ( also retired) is convinced we ...
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2answers
99 views

Can I have the IRS deduct my taxes owed from my stimulus check?

I am filing my 2019 taxes and have never filed before, so I expect to get the $1200 stimulus check in the mail. The amount of federal tax I owe for 2019 is less than $1200. Instead of paying the IRS ...
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1answer
6k views

Why does IRS Stimulus Tracking Tool Claims “Payment Status Not Available” When I Am Eligible?

Apologies for the lengthy post. I'm been confounded the past 2-3 days by the confusing information I'm getting from the IRS's FAQ page and their Stimulus "Get My Payment" Tracking tool. I ...
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518 views

I was a dependent in 2018 but independent in 2019. Will I get the stimulus check? And When?

Basically I filed independently on 4/13/2020 and my Mother filed on 4/16/2020. Last year I was her dependent but this year she did not claim me as a dependent. Will I get the stimulus check? I was ...
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49 views

Am I getting the stimulus check?

I am 20 years old and live with my mom, last year (2018) she filed me as a dependent, and I only just did my taxes on the 14th of April. I’m terrified I won’t be qualified in time. Does anyone know if ...
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1answer
121 views

Stimulus eligibility check question

Hopefully one of you may know the answer to this as I can't find it anywhere on the Google and not sure if it's even been asked. My girlfriend is a healthcare worker who makes less than the threshold ...
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2k views

I was claimed as a dependent in 2018 but not in 2019 [duplicate]

I filed my own taxes in 2019 as a single. In 2018, I was claimed as a dependent by my parents, but they haven’t filed their 2019 taxes. Will I still receive a stimulus check?
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221 views

Am I eligible for the stimulus check?

So my mom claimed me for 2018 Taxes when she shouldn’t have. For 2019 taxes I filed my taxes on April 3rd this year. I am a college student currently part time but my parents do not provide for me ...
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70 views

Accidentally put down I can be claimed [duplicate]

On turbo tax I accidentally put down that someone can claim me but no one claims me. Will I still qualify for the stimulus check?
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1answer
197 views

Stimulus Check Eligibility as 22yr Old College Student

I am a 22 year old college student. My mom has not claimed me on her taxes since 2015. I have claimed independent since I turned 18. I do not live with her, she does not support me. I am a full time ...
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69 views

Can a non-filer dependent claim coronavirus support?

I didn't file taxes due to my zero income within the last two years. I'm 40 years old. My daughter was claiming me as dependent in 2018, 2019. This year I got a job. So far I earned $2,000 year to ...
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1k views

I put that someone could claim me as a dependent on accident but no one will/did claim me as one

I did my taxes on turbo tax and didn’t realize that I put that someone could claim me. No one actually claimed me. Will I still qualify for a stimulus check?
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I'm still working but my payments are deferred due to Covid19. Do I qualify for unemployment insurance benefits?

I'm self-employed in California and my biggest client (>90% of my billable hours) is not able to pay due to cash flow disruptions related to Covid19. I've agreed to continue working and billing as ...
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34 views

Converting some of the rainy day fund to EUR

I live in a country where EUR is accepted at most shops, but it is not the official currency. I am wondering if it would make sense to convert a portion of my rainy day fund to EUR, to be somewhat ...
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I worked last year and went to school. Will I still get a stimulus check if nobody claimed me in 2019 taxes

I worked last year for only 2 weeks. Got paid once but I still filed it on my 2019 taxes and only got back $7 but I also went to school and claimed my school payments. Nobody claimed me as a dependent ...