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Nzoner's Game Room>***NON-POLITICAL COVID-19 Discussion Thread***
JakeF 10:28 PM 02-26-2020
A couple of reminders...

Originally Posted by Bwana:
Once again, don't come in this thread with some kind of political agenda, or you will be shown the door. If you want to go that route, there is a thread about this in DC.
Originally Posted by Dartgod:
People, there is a lot of good information in this thread, let's try to keep the petty bickering to a minimum.

We all have varying opinions about the impact of this, the numbers, etc. We will all never agree with each other. But we can all keep it civil.

Thanks!

Click here for the original OP:

Spoiler!

[Reply]
SupDock 10:31 PM 03-25-2020
My understanding is that the money received has to be paid back on your taxes, correct?
[Reply]
petegz28 10:35 PM 03-25-2020
Originally Posted by SupDock:
My understanding is that the money received has to be paid back on your taxes, correct?
I don't know bout paid back but you can bet your ass they are going to tax it.
[Reply]
petegz28 10:37 PM 03-25-2020
Well thankfully since this hit NY we are getting the iHeart Living Room Concert. Remember the last time we had a big concert like this was when NY got hit with the hurricane.
[Reply]
SupDock 10:38 PM 03-25-2020
Originally Posted by petegz28:
I don't know bout paid back but you can bet your ass they are going to tax it.
I'm finding very few details in regards to this. I'm sure you are right.
[Reply]
BigRedChief 10:38 PM 03-25-2020

Increase over yesterday in detected coronavirus cases. Hopefully, grouping things by region helps even out disparities in testing rates.

South: +32%
Northeast (excluding NY): +30%
Midwest: +27%
West (excluding CA & WA): +23%
New York: +20%
California: +20%
Washington: +11%

— Nate Silver (@NateSilver538) March 25, 2020

[Reply]
BigRedChief 10:39 PM 03-25-2020

These might not *seem* like big differences. But multiplied over days/weeks, they matter a lot:

30% = daily growth is quite bad; steepest part of exponential curve
20% = slope nudged downward but still exponential growth
10% = rather encouraging, may mean Ro<1 and spread slowing

— Nate Silver (@NateSilver538) March 25, 2020

[Reply]
mdchiefsfan 10:40 PM 03-25-2020
Originally Posted by petegz28:
I believe that and as I just explained to Lew, I think we have had literally millions of people already exposed to this but many either showed little or no symptoms or otherwise thought they had the flu and recovered.
I am leaning this way too. Around early December, my son stayed home for a week. Main complaint: fatigue. He started with a sore throat, then had a low-grade fever (around 100 F) and a dry cough. He had no nasal issues (sneezing, stuffy nose, etc.).

I got it after him and I just felt almost out of body, I was so exhausted. I too had a low-grade fever, and a dry cough.

It went through my house pretty quickly and I had to take my 78 year-old mother-in-law to the dr. He said she didn’t have the flu (swab tested), but gave her a z-pack because of her cough. It took a while for her to get back on feet.
[Reply]
petegz28 10:45 PM 03-25-2020
Originally Posted by mdchiefsfan:
I am leaning this way too. Around early December, my son stayed home for a week. Main complaint: fatigue. He started with a sore throat, then had a low-grade fever (around 100 F) and a dry cough. He had no nasal issues (sneezing, stuffy nose, etc.).

I got it after him and I just felt almost out of body, I was so exhausted. I too had a low-grade fever, and a dry cough.

It went through my house pretty quickly and I had to take my 78 year-old mother-in-law to the dr. He said she didn’t have the flu (swab tested), but gave her a z-pack because of her cough. It took a while for her to get back on feet.

I have to get the flu shot every year for work and this is the first year in several years I had "the flu" and I had it bad. Fatigue, fever, dry cough, and some head congestion. The congestion is about the only symptom not really reported with Covid but I got al this after my Son had pneumonia. Wife got sick too but she was rather mild. Hers was more along the lines of a cold.

This was all back in January.
[Reply]
mr. tegu 10:48 PM 03-25-2020
This article will probably answer most people’s questions about the stimulus checks. The link also has the small business information. Here’s the main part of interest though, including how it relates to taxes.

The headliner of the CARES Act is the individual stimulus payment, or as it’s officially titled, the “2020 recovery rebate for individuals.” Whatever you choose to call it, it means that the government will immediately begin cutting checks directly to individual taxpayers, putting nearly $507 billion in cash into the hands of most adult Americans, and ideally, right back into the struggling economy. The CARES Act does this via the tax law by adding new Section 6428 to the Internal Revenue Code, but the final version of the bill has some subtle, and not so subtle, changes from the proposal we examined on Friday. All things considered, however, the final stimulus package is much more generous and simple to compute. Here’s how it will work:

The IRS is going to take a look at your 2019 tax return. Fear not, if your 2019 return has not yet been filed, the Service will grab your 2018 return instead. And even better: if you haven’t filed a return for EITHER year, the IRS will determine your check amount based on your Form SSA-1099, Social Security Benefit Statement.

Once the IRS has either your 2019 return, 2018 return, or Social Security statement, it’s going to cut you a check for $1,200 (if single/$2,400 if married filing jointly) PLUS $500 for each child under the age of 17. Unlike the initial version of the bill, the payment is in no way limited to your tax liability or dependent on you having earned a minimum amount of “qualifying income.”

Example. A is a single taxpayer. On A’s 2019 tax return, A had gross income of $50,000 and an income tax liability of $1,000. Despite the fact that A’s tax liability for 2019 A was only $1,000, A is entitled to receive a check for $1,200.

Example. B is a single taxpayer who has not yet filed a 2019 return. In 2018, he had income of $10,000. As a result, he did not file a tax return because his income was less than the $12,000 standard deduction. The IRS will access B’s Social Security statement for 2018, and issue a check to B for $1,200.

Example. H & W are married with three children. On their 2019 tax return, they reported taxable income of $60,000 and had a tax liability of $5,000 before withholding and credits fully eliminated the liability and gave rise to a $3,000 refund. Nevertheless, H & W will receive a check for $3,900 from the government as part of the 2020 stimulus payment.

Not everyone gets a check, however. You’ll need to have provided a valid social security number for yourself, your spouse and any qualifying children on your tax returns, and those who are claimed as a dependent on another’s tax return also won’t be receiving a payment.

Finally, those on the higher end of the income scale will be shut out of the program because the payment phases out once your “adjusted gross income (AGI)” — think: total income minus a handful of deductions — exceeds $75,000 (if single, $150,000 if married). Once over those thresholds, you’ll lose $5 of your payment for every $100 your AGI exceeds those thresholds. So…

If you are single with no kids and would be due a payment of $1,200, it will be wiped out completely if your AGI exceeded $99,000 (($99,000 – $75,000) * 5% = $1,200).
If you are married with no kids and are due a payment of $2,400, it will be gone if your AGI exceeded $198,000 (($198,000-$150,000)*5% = $2,400).

If you’ve got kids, then obviously, it will take more income before all of the payment is wiped out. For example, a married couple with two children who is eligible for the maximum payment of $3,400 wouldn’t lose all of their payment until AGI exceeded $218,000.


The payments will be made between now and December 31, 2020 — in many cases, it will be paid electronically if you have provided direct deposit information to the IRS on your 2018 or 2019 tax returns — but it’s important to understand that any payment you receive acts as an advance payment of a credit you will compute AGAIN on your 2020 tax return.

What that means is that when 2021 rolls around and you prepare your 2020 tax return, you’ll have to recompute the amount you’re owed based on 2020 data. Now, a lot of things may be different in 2020 when compared to 2019 or 2018: you may have more income or less tax liability or fewer kids under age 17…you get the idea. In any event, you’ll have to compute the payment owed to you based on 2020 data, and compare it to the advance payment you actually received. If the advance payment was less than what you are owed in 2020— for example, you were phased out in 2019 but not 2020 or you had another child — the excess will be treated as a credit that reduces your 2020 tax liability.

If the advance payment is GREATER than what you’re owed on your 2020 tax return, however, the question becomes: what then? The CARES Act does not explicitly require income recognition for any excess, as was required by its counterpart in the House. Nor is there a mechanism for a taxpayer to repay any excess advance payment. Thus it is entirely possible a taxpayer could, for example, receive an advance payment in 2020 based on 2019 or 2018 income, only to find themselves ABOVE the phase out threshold in 2020, giving rise to no credit on the 2020 return, and yet still not have to repay the excess amount to the IRS.

https://www.forbes.com/sites/anthony...the-cares-act/
[Reply]
mr. tegu 10:52 PM 03-25-2020
Full text of the bill here. It’s gigantic.

https://www.documentcloud.org/docume...INAL-TEXT.html
[Reply]
eDave 10:52 PM 03-25-2020
Paavo of Above & Beyond Diagnosed With COVID-19

He continued on saying that he has not been feeling well and he has received diagnoses from two different doctors and a nurse confirming he has the symptoms of mild to medium COVID-19 virus. The artist explained he was in Bali, Indonesia recently and received a massage by a masseuse who was coughing. Shortly after that, he began seeing the symptoms. He is on day 11 of feeling ill and hopefully is starting to come around.

He explains that he still feels intense chest pain which he manages with various breathing exercises. Meanwhile, he also is trying to manage the unexpected fevers that come and go every few hours. Paavo also consistently meditates to bring his mind back to Earth and not let fear take control of his thoughts.

He is staying busy with Fortnite (his username is POS313)

https://www.edmtunes.com/2020/03/paa...with-covid-19/
[Reply]
Why Not? 11:08 PM 03-25-2020
Originally Posted by petegz28:
It will. It passed the Senate unanimously. It will pass the House.
I think so but I never count votes before they hatch.
[Reply]
Fat Elvis 11:08 PM 03-25-2020
Originally Posted by mr. tegu:
This article will probably answer most people’s questions about the stimulus checks. The link also has the small business information. Here’s the main part of interest though, including how it relates to taxes.

The headliner of the CARES Act is the individual stimulus payment, or as it’s officially titled, the “2020 recovery rebate for individuals.” Whatever you choose to call it, it means that the government will immediately begin cutting checks directly to individual taxpayers, putting nearly $507 billion in cash into the hands of most adult Americans, and ideally, right back into the struggling economy. The CARES Act does this via the tax law by adding new Section 6428 to the Internal Revenue Code, but the final version of the bill has some subtle, and not so subtle, changes from the proposal we examined on Friday. All things considered, however, the final stimulus package is much more generous and simple to compute. Here’s how it will work:

The IRS is going to take a look at your 2019 tax return. Fear not, if your 2019 return has not yet been filed, the Service will grab your 2018 return instead. And even better: if you haven’t filed a return for EITHER year, the IRS will determine your check amount based on your Form SSA-1099, Social Security Benefit Statement.

Once the IRS has either your 2019 return, 2018 return, or Social Security statement, it’s going to cut you a check for $1,200 (if single/$2,400 if married filing jointly) PLUS $500 for each child under the age of 17. Unlike the initial version of the bill, the payment is in no way limited to your tax liability or dependent on you having earned a minimum amount of “qualifying income.”

Example. A is a single taxpayer. On A’s 2019 tax return, A had gross income of $50,000 and an income tax liability of $1,000. Despite the fact that A’s tax liability for 2019 A was only $1,000, A is entitled to receive a check for $1,200.

Example. B is a single taxpayer who has not yet filed a 2019 return. In 2018, he had income of $10,000. As a result, he did not file a tax return because his income was less than the $12,000 standard deduction. The IRS will access B’s Social Security statement for 2018, and issue a check to B for $1,200.

Example. H & W are married with three children. On their 2019 tax return, they reported taxable income of $60,000 and had a tax liability of $5,000 before withholding and credits fully eliminated the liability and gave rise to a $3,000 refund. Nevertheless, H & W will receive a check for $3,900 from the government as part of the 2020 stimulus payment.

Not everyone gets a check, however. You’ll need to have provided a valid social security number for yourself, your spouse and any qualifying children on your tax returns, and those who are claimed as a dependent on another’s tax return also won’t be receiving a payment.

Finally, those on the higher end of the income scale will be shut out of the program because the payment phases out once your “adjusted gross income (AGI)” — think: total income minus a handful of deductions — exceeds $75,000 (if single, $150,000 if married). Once over those thresholds, you’ll lose $5 of your payment for every $100 your AGI exceeds those thresholds. So…

If you are single with no kids and would be due a payment of $1,200, it will be wiped out completely if your AGI exceeded $99,000 (($99,000 – $75,000) * 5% = $1,200).
If you are married with no kids and are due a payment of $2,400, it will be gone if your AGI exceeded $198,000 (($198,000-$150,000)*5% = $2,400).

If you’ve got kids, then obviously, it will take more income before all of the payment is wiped out. For example, a married couple with two children who is eligible for the maximum payment of $3,400 wouldn’t lose all of their payment until AGI exceeded $218,000.


The payments will be made between now and December 31, 2020 — in many cases, it will be paid electronically if you have provided direct deposit information to the IRS on your 2018 or 2019 tax returns — but it’s important to understand that any payment you receive acts as an advance payment of a credit you will compute AGAIN on your 2020 tax return.

What that means is that when 2021 rolls around and you prepare your 2020 tax return, you’ll have to recompute the amount you’re owed based on 2020 data. Now, a lot of things may be different in 2020 when compared to 2019 or 2018: you may have more income or less tax liability or fewer kids under age 17…you get the idea. In any event, you’ll have to compute the payment owed to you based on 2020 data, and compare it to the advance payment you actually received. If the advance payment was less than what you are owed in 2020— for example, you were phased out in 2019 but not 2020 or you had another child — the excess will be treated as a credit that reduces your 2020 tax liability.

If the advance payment is GREATER than what you’re owed on your 2020 tax return, however, the question becomes: what then? The CARES Act does not explicitly require income recognition for any excess, as was required by its counterpart in the House. Nor is there a mechanism for a taxpayer to repay any excess advance payment. Thus it is entirely possible a taxpayer could, for example, receive an advance payment in 2020 based on 2019 or 2018 income, only to find themselves ABOVE the phase out threshold in 2020, giving rise to no credit on the 2020 return, and yet still not have to repay the excess amount to the IRS.

https://www.forbes.com/sites/anthony...the-cares-act/
So if you are single, and your income is over $75K in tax year 2019, you only get a partial payment? And if your income subsequently is under $75K in tax year 2020, the remainder of the payment up to $1200 is treated as a tax credit for tax year 2020?

For example, lets assume income of $90K in tax year 2019 and income of $70K in tax year 2020: So 90K-75K=15K*.05= $750 (taken off of check of possible $1200). In tax year 2019, then, you'd receive a check for $450 (1200-750), and (assuming income of 70K in tax year 2020) you would get a tax credit of the remaining $750 on your 2020 taxes, correct?
[Reply]
Chieftain 11:28 PM 03-25-2020
Originally Posted by mdchiefsfan:
I am leaning this way too. Around early December, my son stayed home for a week. Main complaint: fatigue. He started with a sore throat, then had a low-grade fever (around 100 F) and a dry cough. He had no nasal issues (sneezing, stuffy nose, etc.).

I got it after him and I just felt almost out of body, I was so exhausted. I too had a low-grade fever, and a dry cough.

It went through my house pretty quickly and I had to take my 78 year-old mother-in-law to the dr. He said she didn’t have the flu (swab tested), but gave her a z-pack because of her cough. It took a while for her to get back on feet.
Wow. Same exact thing happened to me without the fever part.
My son had this dry cough and slight temperature for one day, slight runny nose. His mom a day later starts having a sore throat, lies in bed feeling tired and weak. Two days later it happened to me. Sore throat, feeling of fatigue, weak legs. This all happened about 8 days ago. We still have some slight cough but nothing like before. No weakness or fatigue.
Our initial thought was that he got a throat infection from being exposed to other kids at daycare. His doctor checked his lymph nodes and comfirmed it.

But what if these were all symptoms of the virus itself? I never believed throat infections were this contagious. We haven't gotten tested for the virus but have remained isolated at home these past 4 days.
[Reply]
BIG_DADDY 11:50 PM 03-25-2020
Originally Posted by Why Not?:
It still needs to clear the House.
If it doesn’t it will destroy those who strike it down. We can only hope lol
[Reply]
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