Tax Tuesday Talk

Tax Tuesday Talk

Chat.

All ahead on fox 24 news now.

>> it's time for our test tuesday talk with thomas spade, instructor at the clem of charleston, and everyone is wondering if and when they will be getting a stimulus check, and if their money has been deposited into their account.

>> those lucky people.

Here's who qualifies.

Those who are married and their joint income is $150,000 or less.

Or those who aren't married, and their income is $75,000 or less.

Now, when i say income, i mean that magical number you heard me talk about before, adjusted gross income.

They're going to base it off your 2019 return if you filed.

And 2018 if you haven't, and then that maximum payment that you get, which is $1,200 if you're sim, married filing separate or head of household.

And $2,400 if you're married, plus $500 for every dependent that you have under 17 as of last year.

Phasing out $5 for every $100 over the limit.

As for senior citizens, well, again, it doesn't matter.

This does not discriminate.

The only thing that it discriminates against is those who are laming a dependent.

Everyone else, senior citizens, people of middle age, people of young adults, as long as they were not claimed as a dependent on anybody's return, they get it.

>> if you receive social security, they already have your data online, and if you get those monthly deposits automatically, the money gets refunded via channels.

>> if they don't get tax returns, and don't get social security, for example, they don't get tax returns because they don't have to, they get that from the social security administration.

What they didn't make clear is for those who didn't file tax returns and get social security, if they're going to take that information from social security.

Which is why everybody should check the tool online for get my payments.

>> i want to talk about the online tool in just a second.

I want to talk about who does and who doesn't qualify.

What good those who owe taxes, if they owe taxes instead of a refund.

Regardless of if you have an agreement going with the irs, or if you have a prior year balance that you're trying to work with them or if you just have a prior year balance and you've been ignoring it.

Sybilly, congress wanted everybody who is eligible to get this check, or these funds directly deposited into their account to help in a time of need.

Not to pay money back to the government.

>> that's true.

And as far as those repayment plans go, they have been put on hold.

And the irs says you don't have to make those payments until july 18th, and that's what the edict is to this point.

People who owe child support, where does that stimulus check go?

>> well, from what i've heard, that's a very good question, i've heard a rumor that those who owe child support might not get a check.

>> i heard the same thing, and i wanted to get my information right.

>> i heard that rumor, but from what i understand, they might still get the check, and in fact, there's not much that can be done about that.

And then it can't be grabbed by someone who they owe the child support to.

>> they can use that stimulus check to pay their child support.

And something for them to understand, they must make sure that the address that they currently have filed on their last tax return matches where they're living now.

So to make sure that they have filed with the post office, a change of address, so deposits.

We need to take a break, but when we come back, a few more questions regarding filings, and if we're still on for the july 18th date.

So don't go anywhere, we'll be right back.

>> welcome back, we've been chatting with our good friend, thomas spade.

And where are you right now?

>> i am in my apartment, overlooking the desolate wasteland of king street downtown.

>> i never thought i would hear those words.

>> never ever.

>> how are things looking over there, pretty empty?

>> it is, it's quiet.

And sometimes that's a really good thing.

>> it kind of gives you i rest on your ear drums a little bit.

But speaking of empty, i made a few calls just to see who is in and whose out of the office, and for -- those offices are closed.

>> keeping in touch with them -- >> the state specific tax issues that people have, what are the rules in place right now?

What kind of forgiveness, if you will, have people been receiving who typically file taxes here in the state?

>> well, from what i've been hearing, the department of revenue to delay payment for sales tax until the end of may, and i also heard that estimated tax payments have been kicked out to the end of may as well.

So they are offering some relief, recognizing that everything is closed.

So they're not going to be there anyway to process t.

So yes, everybody gets extra time.

>> i was getting notifications on my phone, tax day!

And it's funny how everything came and went since we have been on lockdown, and we have had to move the dates ahead a bit so people can get this whole coronavirus experience behind them.

Are we still on?

Is congress still on for the july 15th due date?

Or has that been moved even later?

>> we're still on for july 15th, and if you can't file by july 15th, you can request an extension until october 15th.

But it's only an extension to file, and not an extension to pay.

They are not going to have a penalty between april 15th and july 15th, but those are going to start calculating on july 15th.

So file an extension by july 15th if you're not going to be done by then.

>> that's a good piece of advice, and the stimulus checks, who qualifies and who doesn't, but if they have any additional questions, we'll give your contact information at the end of this segment.

With just about a minute left, thomas, with those stimulus checks, if people have not received their money and believe they should be receiving their money, to get onto the website, calls to the irs anyway is extremely difficult.

But in terms of getting on their website, i see just the wheel of death, if everybody knows what i'm talking about, circle and circling, and it sounds like everything is overloaded to this point, and what should they do?

>> there have been some problems since this went online.

And right now, the irs is taking steps to get everything up and running.

Now, of course it was just released this past wednesday, and some people were running into problems, saying that the payment information is not available.

Well, they just released it, and of course there are going to be some bugs in the system.

They're working diligently to fix it, so in the words of the great american philosopher, axel rose, all we need is a little bit of patience, and in time, they will have this up and running very soon.

And once you can get in, you can enter your updated address information and direct deposit information, so they're going to make sure that you get your monies as quickly as possible if you're eligible.

>> thank you so much.

And we're going to leave that on the road of axel rose.

And people can get in touch with you how?

>> go to all the of my contact information.

>> stay safe.

And back after this.

>> we've either engaged in or seen a lot of video calls these days, and some we admire for looking well put together, and others are to be desired.

We welcome back bobbi jo from interiors, and she's here to give easy tips on to you to improve our skype background game.

We have seen some backgrounds that look nice, and others where there's a bit of a mess of clutter behind, and things are in disarray and lights coming in behind and it's a mess.

And how can we mick it better?

>> for instance, i think one of the most important things, you kind of the light from all around you but don't want it to be too bright.

And you don't want light coming from behind you either.

So if there's a window, you want to close it somewhat, so it's not too glaring because you'll come off as a shadow.

I have one light, and today is a gloomy day, and it's okay to have the window open.

Right now, lately a.

You look perfect, you have a neutral background, which is one of the suggestions, and you're wearing a solid color, and it makes you pop a little bit, and you don't want to wear -- you don't want to be in a busy background that has too much going on, and you don't want to blend in too much with your background.

>> it takes it away, and a lot of people are not just skyping with family and friends, but they're working or interviewing for a job where you would go into someone's office and do it in person, you're doing a video chat, so you want to look professional, and behind you, you have a beautiful collection of plaits that we talked about on friday, some of them owner 100 years olds and you arranged them so beautifully, it peeks to who you are as well.

So someone who is a lover of sports, what are the interests around them?

>> one of the places to do your skyping from is in front of a bookshelf or bookcase, but make sure that it's neat and tidy.

So if you have sports memorabilia or a frame, you can place it behind you so they can see it.

But you don't want it to be overwhelming where they're not going to focus on you.

>> exactly, and we were talking about this on friday, and we were going through boxes and old kinds of things, and i mentioned my beautiful cross stitch pillow that my mother had made for me 35 years ago, and i treasure it and it has a place of honor beside me.

So things that tell a story about you, conversation piece its you will, to make that the star of the show as it were.

I want to get into wardrobe, and as we take a bit of a break, we present yourself, so don't go anywhere.