Coronavirus (NO POLITICAL OR SOCIAL COMMENTARY PLEASE)

[Moviefan1203]

Originally Posted by IndyMLVC

It is an advance against your 2020 tax return. We'll all have to pay it back next year.

I do not believe that it true. This stimulus won’t impact tax returns next year.


https://www.google.com/amp/s/www.cnb...lus-check.html

[IndyMLVC]

To anyone that's wondering what's going to happen to the film/TV industry, here's a peek.

https://deadline.com/2020/04/how-hol...ws-1202908471/

I may not be back to work until September. Maybe. Possibly.

[IndyMLVC]

Originally Posted by Moviefan1203

I do not believe that it true. This stimulus won’t impact tax returns next year.


https://www.google.com/amp/s/www.cnb...lus-check.html

It *is* true - as per your article.

While the checks are based off of your 2019 or 2018 returns to get you money now, they are technically credits for 2020 taxes, per the Tax Foundation. If it turns out that you should receive a larger credit based on your 2020 adjusted gross income (AGI), then you will receive the difference next year.

[Member-222782]

Originally Posted by Moviefan1203

I do not believe that it true. This stimulus won’t impact tax returns next year.

This money is considered non-taxable income. Last thing people need is added anxiety thinking they have to pay this back.

[RustinCohle]

Originally Posted by IndyMLVC

It is an advance against your 2020 tax return. We'll all have to pay it back next year.

It’s not. We won’t.

“It's an advance of a refundable tax credit — not an advance of your tax refund itself. It will not lower your tax refund this year or next year.”

https://www.google.com/amp/s/www.bus...k-2020-4%3famp

[DetroitSportsFan]

Your stimulus payment is technically a refundable tax credit, which reduces your 2020 tax bill on a dollar-for-dollar basis. It's like having store credit at your favorite clothing shop: When you apply it to your total bill, it reduces what you owe. In this case, even if you have no tax liability, the government is "refunding" your credit back to you as a cash payment.

You usually can't claim a tax credit until you file your taxes, since you don't know what you owe until the year is over. Because of the severity of this national crisis, the government is giving qualifying taxpayers their credit early in the form of a cash payment. It's an advance of a refundable tax credit — not an advance of your tax refund itself. It will not lower your tax refund this year or next year.

https://www.businessinsider.com/pers...s-check-2020-4

[Mavsfan41]

Originally Posted by IndyMLVC

It *is* true - as per your article.

You might want to read and actually pay attention to the posts below yours, and actually your own too. It’s a “tax credit” which has nothing to do with our final return amount.

But hey if you’re so big on the government getting it back just send it back to them now.

[IndyMLVC]

Originally Posted by Mavsfan41

You might want to read and actually pay attention to the posts below yours, and actually your own too. It’s a “tax credit” which has nothing to do with our final return amount.

But hey if you’re so big on the government getting it back just send it back to them now.

I'm not saying we have to pay it back. I'm saying it's a credit. I misspoke when I said we'll have to "Pay it back."

And, no, I don't need it. But I'll take it.

[bruceames]

Originally Posted by IndyMLVC

To anyone that's wondering what's going to happen to the film/TV industry, here's a peek.

https://deadline.com/2020/04/how-hol...ws-1202908471/

I may not be back to work until September. Maybe. Possibly.

It's going to put Disney at an advantage because they can fully rely on CGI and animation.

[bruceames]

If you got the full $1200 check, then you would only have to pay some of it back if you end up making over $75,000 this year. That's going to be very unlikely given the state of the economy.

[IndyMLVC]

Originally Posted by bruceames

It's going to put Disney at an advantage because they can fully rely on CGI and animation.

As a VO actor, I'm hopeful. We'll be the only ones with regular work.

However, all regular seasonal TV shows are going to be severely affected. Movies are going to be a mess.

[bruceames]

Originally Posted by IndyMLVC

As a VO actor, I'm hopeful. We'll be the only ones with regular work.

However, all regular seasonal TV shows are going to be severely affected. Movies are going to be a mess.

Yeah I can imagine you'll have plenty of work. Other studios will probably rely more on animation/CGI as well until things get back to normal.

[Member-222782]

I envision a labor market that will consist primarily of "pandemic-safe" jobs that will emerge soon after the crisis ends. Industries like healthcare, trucking/delivery, food service, building maintenance, and, yes, film production that doesn't involve actual people being in close contact (like VO artists and animators) will see an explosion of jobs in the years to come. This virus will be a game changer in so many ways.

BTW, because of my CNN binge watching, I now know who the governors of many States are. I'm particularly fond of the Governors of Michigan and South Dakota

[IndyMLVC]

Originally Posted by Cinema84

I envision a labor market that will consist primarily of "pandemic-safe" jobs that will emerge soon after the crisis ends. Industries like healthcare, trucking/delivery, food service, building maintenance, and, yes, film production that doesn't involve actual people being in close contact (like VO artists and animators) will see an explosion of jobs in the years to come. This virus will be a game changer in so many ways.

BTW, because of my CNN binge watching, I now know who the governors of many States are. I'm particularly fond of the Governors of Michigan and South Dakota

Hey! Maybe we'll get that Indiana Jones sequel that makes sense after all Animate it!

[MifuneFan]

I just want to know how they're going to keep track of all the people who are apparently "safe" to go back to work. Is there going to be some sort of universal database, or an ID card or something? With the hundreds of labs that wil no doubt pop up to do antibody tests, it's going to be a messy situation to figure out who's "immune" and who isn't. Many of the antibody tests coming out are shoddy, and showing people to have antibodies for coronavirus, but not necessarily the COVID-19 strain.

[Pondosinatra]

Originally Posted by Ben_C

Meanwhile in the UK, our new national sport has become watching 99 year old Captain Tom walking lengths of his large garden to drum up much needed cash for our health service.

He finished his 100th length this morning and, in keeping with the bizarre times in which we are currently living, he was then promptly serenaded with a rendition of You’ll Never Walk Alone by Michael Ball live on the news.

Japan 2020!

[Pondosinatra]

Originally Posted by Cinema84

This money is considered non-taxable income. Last thing people need is added anxiety thinking they have to pay this back.

You really think the US will simply print 2 Trillion out of thin air and not expect it to be paid back eventually somehow...

Oh wait, we're talking about the US.

Just keep kicking that can further down the road.

In backwater Canada, once all the dust settles we'll be living with the following: Increased federal and provincial taxes, GST tax will go up, Alberta will finally introduce a sales tax, Capital gains tax will go up, locally, property taxes will go up, fees for every service known to man will go up, etc. etc. etc. forever.

[Pondosinatra]

Originally Posted by IndyMLVC

As a VO actor, I'm hopeful. We'll be the only ones with regular work.

However, all regular seasonal TV shows are going to be severely affected. Movies are going to be a mess.

Wait! Are you that 'In a World...' guy?!?!?!?

[MazeRunner]

Originally Posted by Lee A Stewart

You can add your direct deposit info which will shorten your timeframe:

https://www.irs.gov/coronavirus-tax-...mpact-payments

Not working for me.

[Lacit170]

Originally Posted by InuYashaCrusade

Do you really want to see thousands of more deaths? Because that's whats gonna happen if everywhere reopens too soon.

this is part of the problem, the black and white thinking. things can be done to slowly re-open the economy. has been beaten to death in this thread. no one is say to just magically open up everything at once.

Originally Posted by Batman1980

Americans are #1 in deaths by Coronavirus for a reason.

#7 in the world per million people though. so put it into perspective, not nearly as bad as it seems.

Originally Posted by IndyMLVC

They're already starting. My mom went to a grocery store in Connecticut and they were only allowing people in if they were wearing a mask *AND* they took their temperature.

where in CT? they are not doing that where i am in Fairfield County....

Originally Posted by danman227460

While COVID was seen as virus that only killed the old, it is becoming clear this virus doesn't see age. It kills regardless.

have you seen the numbers of people dying under 20? under 40 and under 50? i'm thinking you have not.

Originally Posted by MazeRunner

Applebees, Longhorn, and probably most other chain restaurants have limited their takeout menus. Some of the best things aren't even available anymore. What's the point then? Nobody wants burgers from Applebees or Longhorn.

nobody wants anything from applebees, that place is absolute trash haha. thats one chain i hope covid does take out.