Hi 20 somethings!
My name is Aubri and welcome to this channel where we make the financial MOST out of our 20s.
Feel free to follow me on Instagram where we vote on video ideas ALL DA TIME!!!! - @aubristaker
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Portal COMING SOON (mid april)
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On April 1st I released a video titled - Everything You Need to Know About the 2020 Stimulus Check - and while I released that video with the most up to date information at the time, there have been some rapid changes, clarifications and improvements.
This video will be dedicated to updates and clarifications of the Economic Impact Payment!
Update #1
-SS recipients will automatically be filed to receive their Stimulus Money.
Update #2
--Officials and outlets are now calling this Stimulus Check #1 alluding to the fact that there may be more coming if this situation continues for longer than originally anticipated.
Update #3
--Direct deposits began on April 9th and will continue through April 17th.
Update #4
--Mailed checks will be happening in waves. Anyone who made under 10k will be mailed their check on April 24th. Anyone who made under 20k will be mailed their check on May 1st. Anyone who made under 30k will be mailed their check on May 8th. After that, it is said that mail recipients who made over 30k to 99k will receive their checks sometime between May and September.
Update #5
-If you want to receive your check by direct deposit but didn't provide this information with your 2018 or 2019 tax return, then you will be able to update to direct deposit through an IRS portal that is currently in the works.
Update #6
-If you want to track your stimulus check then you can! The IRS has set up a portal to track your payment.
Clarification #1
--In my last video I mentioned how you can be filed for 2018 or 2019. This is because 2019 taxes aren’t due yet as tax day has been postponed to July 15h. If you made over 75k in 2019 and made under 75k in 2018, I’d urge you to wait to file till July so that you can receive this stimulus money as well.
Clarification #2
--In my last video I mentioned that if you haven’t filed taxes but want to receive the check you need to backfile, well! I heard from many people saying “why would you backfile if you owe the IRS money” and the answer is, they wouldn’t collect payment on the money you owe right now anyway. SO it is being recommended to backfile so you can receive the stimulus money and you’ll have to file eventually anyways... might as well receive $1200 out of filing.
Clarification #3:
-What happens to homeless people? The answer is these people would need to file a simple tax return for 2018 that claims no income or file on the IRS portal under “non-filer.”
I do not want to take time to remind everyone that there are SCAMMERS out there who are looking for your bank account or SS #. The government is expecting an uptick of scammer calls and emails so please do not respond to any emails that are posed from the IRS or phone calls.
Please leave any comments or questions below and I’d be happy to answer them!
I appreciate each and every one of you!
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Disclaimer: You and only you are responsible for your personal finance decisions. I am one person on youtube sharing their opinion. I urge you to always conduct your own research / talk to a CPA.
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