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@Mark- Yes sir, I gave that a try. From the FAQs I noted that the cap is-
• $150,000 if married and filing a joint return
OK, I know that our income from SS & pensions is somewhat over that number. But then it says-
• Your payment will be reduced by 5% of the amount by which your AGI exceeds the applicable threshold above.
So what the heck does that mean? If our income was- $1000 over that amount, would the $1200 payment be reduced by $50? $5000 over that amount, would the $1200 payment be reduced by $250? $10000 over that amount, would the $1200 payment be reduced by $500? $20000 over that amount, would the $1200 payment be reduced by $1000? $25000 over that amount, would the $1200 payment be reduced by $1250?
If that's the way it works, then the $1200 payment is probably close to being reduced to 0. But it would be nice to just get a "yes" or "no" answer. It's not as if they don't know.
It's slightly more complicated than OJ described, but that's the general idea.
The checks (or deposits or debit cards) are based on your 2019 AGI. If your 2020 AGI is higher, you won't get any more but you get to keep the extra amount. So if you qualified for a check based on 2019 AGI while your 2020 AGI disqualified you, consider yourself lucky.
Conversely, if your 2020 AGI is lower than your 2019 AGI and so you are eligible to receive a greater amount, you'll get that extra amount in the form of a rebate on your 2020 tax return.
Last year I received direct deposit. I gave the same bank account on my 2018 and 2019 returns, but this year I'm getting something in the mail. I don't know what yet (check or card). All I know is that it was supposedly mailed on the 6th and it hasn't arrived yet.
Update: June16th, check arrived. 90 miles in 10 days; I could have walked it faster.
Among the tRumpster's "accomplishments" was to install his great big donor, Louis DeJoy, as his personal saboteur in charge of the P.O. He actually took sorting machines apart and sold them for SCRAP. He politicized the Post Office, in order to create a pretext for casting doubt about the validity of mail- in ballots. Scum-pig. And guess what? Some States (Hawaii, Utah, Oregon) vote ALL by mail (or drop box) now. If I ever get the chance, I'm going to rip off his face and cook it and eat it. ("Maybe with a fine chianti and some fava beans.") This is to say nothing of the fact that all OTHER mail was severely slowed-down and delayed. Back in July, I recall receiving a regular, routine monthly bill AFTER the due date had already passed. Even now, that bill still arrives with only about 6 or 7 days before the due date. Sure, those companies get a break on the cost of postage by sending it "pre-sorted" First Class, and it therefore moves slower than the retail mail which the rest of us use. But there was never an issue like this before Trumpster and DeJoy. Suck-holes.
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Despite getting a direct deposit payment last time it looks like I have to file my tax return for 2020 to get this one.
• $150,000 if married and filing a joint return
OK, I know that our income from SS & pensions is somewhat over that number. But then it says-
• Your payment will be reduced by 5% of the amount by which your AGI exceeds the applicable threshold above.
So what the heck does that mean? If our income was-
$1000 over that amount, would the $1200 payment be reduced by $50?
$5000 over that amount, would the $1200 payment be reduced by $250?
$10000 over that amount, would the $1200 payment be reduced by $500?
$20000 over that amount, would the $1200 payment be reduced by $1000?
$25000 over that amount, would the $1200 payment be reduced by $1250?
If that's the way it works, then the $1200 payment is probably close to being reduced to 0. But it would be nice to just get a "yes" or "no" answer. It's not as if they don't know.
Stay Safe, Derf
The checks (or deposits or debit cards) are based on your 2019 AGI. If your 2020 AGI is higher, you won't get any more but you get to keep the extra amount. So if you qualified for a check based on 2019 AGI while your 2020 AGI disqualified you, consider yourself lucky.
Conversely, if your 2020 AGI is lower than your 2019 AGI and so you are eligible to receive a greater amount, you'll get that extra amount in the form of a rebate on your 2020 tax return.