IRS tax day and I received money from them!

[Kirk W]

Isn't' it just a little bit ironic that on the date we are usually expected to file our taxes, many of us receive a direct deposit from the IRS? I have been thinking about the fact that even those of us who have not been financially impacted by the current situation are receiving the financial boost. I'm thinking that perhaps we who are in a position to do so, should spend that money promptly in order to give the troubled economy a boost? If we do so, the next question is, what do we spend the money on? We are both considering an upgrade of our computers. 

[pjstough]

Just now, Kirk W said:

Isn't' it just a little bit ironic that on the date we are usually expected to file our taxes, many of us receive a direct deposit from the IRS? ...

You dont believe this is just coincidental do you?

[durangodon]

20 minutes ago, Kirk W said:

I'm thinking that perhaps we who are in a position to do so, should spend that money promptly in order to give the troubled economy a boost?

I agree.  That's why they call it "stimulus" money.  It is not meant to stimulate you, but the economy.  😉

18 minutes ago, pjstough said:

You dont believe this is just coincidental do you?

Yes, since I got mine on the 13th and others haven't gotten theirs yet.

[Kirk W]

3 hours ago, pjstough said:

You dont believe this is just coincidental do you?

Maybe, maybe not. Why does that even matter? My youngest son, located in KY received his on April 14 and a friend located in eastern TN got theirs on April 13, so it clearly began prior to April 15. But that was not any part of my question and please keep politics out of the conversation.

Edited April 16, 2020 by Kirk W

[Bill Joyce]

I would probably try to help USA based businesses and most computers are built in China.  But is is difficult since most products are now built in other countries.  We can do a bit by getting takeout restaurant food and maybe buying some rib eye steaks instead of hamburger.   My wife is getting quilting supplies mail order from the local fabric store, but I don't think she is spending $1200.

[durangodon]

I plan on being extra generous to my barber and others who have been unable to work.  When restaurants open back up, I plan on sharing with several of them immediately, including larger than normal tips.  I've heard where others are providing take out to healthcare workers, first responders, etc.

I think the main goal should be just to get it into circulation, in whatever way pleases.  It won't serve the intended purpose just sitting in the bank.

[da'gheens]

52 minutes ago, Bill Joyce said:

I would probably try to help USA based businesses and most computers are built in China.  But is is difficult since most products are now built in other countries.  We can do a bit by getting takeout restaurant food and maybe buying some rib eye steaks instead of hamburger.   My wife is getting quilting supplies mail order from the local fabric store, but I don't think she is spending $1200.

I like your thinking, definitely try and buy things from the local small businesses that are struggling! 

[Will B.]

Best use of your money is to spend it on local business, small business.  Maybe get takeout from a restaurant that's not doing well.  Or other small business.   

 

Just don't spend at Amazon or Walmart.  They'll do fine! 

Just my opinion.

[k4rs]

I am glad to see that others feel the same way I do.  I really appreciate that we have a safe place to hunker down and are financially stable.  Our county was one of the last in the state to have a reported case of coronavirus and the total is currently only three.

While we have not yet received a stimulus payment, we have made extra purchases of things we want, but not necessarily need.  These were items made in the USA and sold by local merchants.  We are definitely looking forward to the day we can resume our support of local restaurants and those who work there.

Safe Travels (or not)...

 

[fpmtngal]

Since I owe tax for last year plus I pay estimated taxes, I’ll just use the stimulus money to pay it.  Yes, I know I could delay both the return for 2019 and the estimated tax payments until July, but I might as well give them their money back now, so I don’t forget about it all, spend it and have to scramble in July for half of the year’s estimated taxes (April and June payments) plus what I owe for 2019.  

If I didn’t owe them money I’d definitely be shopping at a local grocery or restaurant - they deserve all the support they can get.

[sandsys]

I gave my share to a local charity supporting those with true needs at this challenging time. I just didn't feel right keeping it for myself when so many are so needy. I'm NOT judging whatever way you choose to use yours; I'm just telling you what I chose to do since Kirk asked us to do so.

Linda

[hemsteadc]

55 minutes ago, sandsys said:

I gave my share to a local charity supporting those with true needs at this challenging time. 

Kudos to you.  That's wonderful.

[rynosback]

2 hours ago, Will B. said:

Best use of your money is to spend it on local business, small business.  Maybe get takeout from a restaurant that's not doing well.  Or other small business.   

 

Just don't spend at Amazon or Walmart.  They'll do fine! 

Just my opinion.

We have been doing this and leaving the person that walks the food to our car a tip equal to the cost of the meal.

[Barbaraok]

We are getting pickup from local restaurants that we frequent for breakfast.  I always include a VERY generous tip.   I want those places to stay in business if at all possible.

 

[Dutch_12078]

Back to the subject line, of course this year "Tax Day" has been moved to July 15th so any conspiracy theories about the normal date and the stimulus payments pretty much fall apart. 

[Ray,IN]

Well, ours is MIA, should be a direct deposit like both of our SS monies. Then again, our federal refund check came snail mail.

[Barbaraok]

We didn't get ours in the first round because we never have our refund deposited, rather we apply it to the first quarter estimated tax.  And the info for SS recipients hasn't been crossed checked and referenced yet!     So until the SS info is integrated into the IRS system ........

[Dutch_12078]

I haven't given the IRS my banking info in years, and my stimulus deposit showed up right along with my SSA deposit.

[ms60ocb]

8 hours ago, Barbaraok said:

We didn't get ours in the first round because we never have our refund deposited, rather we apply it to the first quarter estimated tax.  And the info for SS recipients hasn't been crossed checked and referenced yet!     So until the SS info is integrated into the IRS system ........

I will be waiting also If it comes by Snail Mail I will be waiting.

31 minutes ago, Dutch_12078 said:

I haven't given the IRS my banking info in years, and my stimulus deposit showed up right along with my SSA deposit.

In that case about May 9 my SSA deposit would arrive and what a Mothers Day present.

Clay

[Dutch_12078]

2 minutes ago, ms60ocb said:

I will be waiting also If it comes by Snail Mail I will be waiting.

In that case about May 9 my SSA deposit would arrive and what a Mothers Day present.

Clay

I don't know that they're actually connecting the two deposits together, so you may see the stimulus deposit sooner than that. 

[LindaH]

21 hours ago, Kirk W said:

I'm thinking that perhaps we who are in a position to do so, should spend that money promptly in order to give the troubled economy a boost? If we do so, the next question is, what do we spend the money on? 

A friend of mine suggested donating the money to a local food bank.  I think that's an excellent idea considering the L-O-N-G lines of cars I've seen on the news waiting for food.

[LindaH]

8 hours ago, Ray,IN said:

Well, ours is MIA, should be a direct deposit like both of our SS monies. Then again, our federal refund check came snail mail.

We haven't received ours, either.  My problem is that when I filed our taxes in February of this year, we did not get a refund, so didn't give the IRS any banking information.  We DID get a refund when I filed our 2018 taxes, but when I go to the IRS site to track where our stimulus check is, it gives me the error message that the account information doesn't match their records.  So now I'm thinking maybe they're using the banking information where our Social Security checks are deposited, even though that's not the same bank I use for refunds.  I'm going to try that again later this morning to see if that works.  If not, I guess I'll just have to wait for a snail mail check.

[richfaa]

21 hours ago, pjstough said:

You dont believe this is just coincidental do you?

Yes I do there is nothing sinister about it.

[travelinfool]

I am taking this found money and donating it to the Wounded Warrior Project.

[rynosback]

5 hours ago, LindaH said:

We haven't received ours, either.  My problem is that when I filed our taxes in February of this year, we did not get a refund, so didn't give the IRS any banking information.  We DID get a refund when I filed our 2018 taxes, but when I go to the IRS site to track where our stimulus check is, it gives me the error message that the account information doesn't match their records.  So now I'm thinking maybe they're using the banking information where our Social Security checks are deposited, even though that's not the same bank I use for refunds.  I'm going to try that again later this morning to see if that works.  If not, I guess I'll just have to wait for a snail mail check.

I have not filled my 2019 taxes yet but did get a little back in 2018. They deposited it into my back account then. So I would think they would do the same for you since they have it on file.

Edited April 17, 2020 by rynosback