• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Second stimulus check could be 'very generous'. Today's update on another IRS payment

MULTIZ321

TUG Member
Joined
Jun 6, 2005
Messages
31,265
Reaction score
8,993
Points
1,048
Location
FT. LAUDERDALE, FL
Resorts Owned
BLUEWATER BY SPINNAKER HHI
ROYAL HOLIDAY CLUB RHC (POINTS)

bbodb1

TUG Review Crew: Expert
TUG Member
Joined
Apr 9, 2016
Messages
4,305
Reaction score
3,824
Points
348
Location
High radiation belt of the Northern Hemisphere
Resorts Owned
RCI Weeks: LaCosta Beach Club, RCI Points: Oakmont Resort, Vacation Village at Parkway. Wyndham: CWA and La Belle Maison, and WorldMark.
Wow.
Whoever is left with this tab is not going to be happy.
 
Last edited:
Joined
Jan 8, 2019
Messages
799
Reaction score
475
Points
73
Location
St. Louis
Resorts Owned
Welk Resorts
Yeah. All of us taxpayers...... And you can bet they will put that as a new line on the tax form for 20. "Did you receive a stimulus check during the novel Corona virus pandemic? If so, you owe XX%...."

Sent from my SM-G892A using Tapatalk
 

Luanne

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
19,353
Reaction score
10,185
Points
1,198
Location
New Mexico
Resorts Owned
Maui Lea at Maui Hill
San Diego Country Estates
Yeah. All of us taxpayers...... And you can bet they will put that as a new line on the tax form for 20. "Did you receive a stimulus check during the novel Corona virus pandemic? If so, you owe XX%...."

Sent from my SM-G892A using Tapatalk
Uhhh, no.

"The short answer: No. In the somewhat longer words of the IRS: “No, the payment is not income and taxpayers will not owe tax on it. The payment will not reduce a taxpayer's refund or increase the amount they owe when they file their 2020 tax return next year. A payment also will not affect income for purposes of determining eligibility for federal government assistance or benefit programs."

https://www.aarp.org/money/taxes/info-2020/are-stimulus-checks-taxed.html
 
Joined
Jan 8, 2019
Messages
799
Reaction score
475
Points
73
Location
St. Louis
Resorts Owned
Welk Resorts
Uhhh, no.

"The short answer: No. In the somewhat longer words of the IRS: “No, the payment is not income and taxpayers will not owe tax on it. The payment will not reduce a taxpayer's refund or increase the amount they owe when they file their 2020 tax return next year. A payment also will not affect income for purposes of determining eligibility for federal government assistance or benefit programs."

https://www.aarp.org/money/taxes/info-2020/are-stimulus-checks-taxed.html
It's gotta come from somewhere. They'll raise taxes on some essential item(s) then.
And just because the government says they won't do something, doesn't mean Jack squat.

Sent from my SM-G892A using Tapatalk
 

pedro47

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
22,072
Reaction score
8,535
Points
948
Location
East Coast
It's gotta come from somewhere. They'll raise taxes on some essential item(s) then.
And just because the government says they won't do something, doesn't mean Jack squat.

Sent from my SM-G892A using Tapatalk
Some body will have to pay this money back one day. Look for small increases in gasoline and cigarette taxes, reduction in social security payments, etc.,
 

am1

TUG Member
Joined
Dec 3, 2009
Messages
8,081
Reaction score
1,531
Points
448
Yeah. All of us taxpayers...... And you can bet they will put that as a new line on the tax form for 20. "Did you receive a stimulus check during the novel Corona virus pandemic? If so, you owe XX%...."

Sent from my SM-G892A using Tapatalk

Actually that is the fairest way possible. An interest free loan with payback based on future earnings.
 
Joined
Jan 8, 2019
Messages
799
Reaction score
475
Points
73
Location
St. Louis
Resorts Owned
Welk Resorts
I'm not complaining. I'm just saying that's what will happen. I'm just concerned the govt will find a way to screw that up to

Sent from my SM-G892A using Tapatalk
 

Luanne

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
19,353
Reaction score
10,185
Points
1,198
Location
New Mexico
Resorts Owned
Maui Lea at Maui Hill
San Diego Country Estates
Actually that is the fairest way possible. An interest free loan with payback based on future earnings.
If it's a loan that has to be paid back not everyone would be interested.
 

Brett

Guest
Joined
Jun 6, 2005
Messages
9,257
Reaction score
4,897
Points
598
Location
Coastal Virginia
It's gotta come from somewhere. They'll raise taxes on some essential item(s) then.
And just because the government says they won't do something, doesn't mean Jack squat.

Sent from my SM-G892A using Tapatalk

sure, higher taxes to pay for the coronavirus "stimulus" :(
 

Luanne

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
19,353
Reaction score
10,185
Points
1,198
Location
New Mexico
Resorts Owned
Maui Lea at Maui Hill
San Diego Country Estates
Fair enough. But interest free loan is a good deal.
Yeah, but that would take more time to process and get out to people.
 

bluehende

TUG Review Crew: Veteran
TUG Member
Joined
Jun 6, 2005
Messages
4,507
Reaction score
3,967
Points
598
Nothing over the last 40 yrs shows me the government ever plans to pay off any of the debt except for a couple years in the late 90's and that ended quickly.
 

Brett

Guest
Joined
Jun 6, 2005
Messages
9,257
Reaction score
4,897
Points
598
Location
Coastal Virginia
Nothing over the last 40 yrs shows me the government ever plans to pay off any of the debt except for a couple years in the late 90's and that ended quickly.

unfortunately that's true. With low interest rates the federal government keep deferring and increasing the debt .... and pushing the debt repayment to the far far future :(:(
 

am1

TUG Member
Joined
Dec 3, 2009
Messages
8,081
Reaction score
1,531
Points
448
Yeah, but that would take more time to process and get out to people.
Just send it and allow people to pay it back on next years taxes or over a few years based on income. That way the people who receive it are the ones paying it back.
 

Luanne

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
19,353
Reaction score
10,185
Points
1,198
Location
New Mexico
Resorts Owned
Maui Lea at Maui Hill
San Diego Country Estates
Just send it and allow people to pay it back on next years taxes or over a few years based on income. That way the people who receive it are the ones paying it back.
So you're saying send the checks out to everyone, then everyone will pay it back. Oh yeah, that will work.
 
Top