Unemployment insurance more than regular salary due to COVID?

[riverwed070707]

Yeah but there are large contingents of people who did not get the stimulus checks. People who are now unemployed but weren't in 2019 so they didn't qualify but their income will be much different in 2020. So nothing can be entirely fair.

Do yo mean people who made more than the threshold but won't in 2020? As I understand it, the stimulus was an advance on a 2020 tax credit so if you made more than the limit in 2019 and didn't get the advanced payment, you should get it when you file your 2020 taxes in 2021 if you have fallen below the cut off. Stimulus wasn't intended to cover unemployment, that is separate.

[disneysteve]

Do yo mean people who made more than the threshold but won't in 2020? As I understand it, the stimulus was an advance on a 2020 tax credit so if you made more than the limit in 2019 and didn't get the advanced payment, you should get it when you file your 2020 taxes in 2021 if you have fallen below the cut off.

I heard that on the news yesterday. I think it was the first time I had heard it explained that way.

So if somebody made $110,000 in 2019 and didn't qualify for the check, but then lost their job, they may still get that money when they file their 2020 taxes? That's not a bad deal, though obviously they could use the money more right now but at least they still get it.

[~bs]

I heard that on the news yesterday. I think it was the first time I had heard it explained that way.

So if somebody made $110,000 in 2019 and didn't qualify for the check, but then lost their job, they may still get that money when they file their 2020 taxes? That's not a bad deal, though obviously they could use the money more right now but at least they still get it.

Correct. It's a 2020 credit that the government wanted to push out in everyone's hands that qualifies for it. However, the mechanism would be too slow if they waited for everyone to file their 2019 and 2020 tax returns. So the government prequalifies you based on the information they have on hand, and is "nice" enough not to claw back the stimulus if your 2020 income is found to be over the threshold. If you file your 2020 return and meet the qualifications, whereas you didn't in previous years filings, you will get the credit.

[LivingAlmostLarge]

correct but they need the stimulus now those who lost jobs. So they get the credit next Feb. Not the same as now.

[bablos003]

Indeed, due to the current situation, a huge number of people were left without work. There were many layoffs and many workers moved to work from home. This significantly reduced wages and the position of people in general. Unfortunately, during the pandemic, I lost my job. After a while, I found out how to get through to edd, and agreed to pay unemployment benefits. I now receive $ 1,082 in benefits for 2 weeks, which is $ 450 more than I earned from my job during the pandemic. I don't know how the situation will change in the future, but I hope for the best.