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So it is 8 o’clock on a wednesday night and i just read an article about some major changes to who will and will not receive the $1200 stimulus check and a couple of days ago i did a video talking about some of the important caveats associated with this $1200 stimulus check that many americans are going to get for example those who had not filed their tax returns

Yet were at an advantage because they could go off of the 2018 return or the 2019 return so i’ve been keeping up with the stimulus check news reading pretty much every article about it and today there was a big piece of news here about a massive group of people who are ineligible for a stimulus check and it just so happens to be a very large part of my target

Demographic so i felt obligated to put this emergency video together for you so we got some clarity on a couple of different topics surrounding the stimulus check in the recent days first of all we know when those who have direct deposit setup should be expecting a payment and that is by april 17th now it’s important to understand that is only for those of us who

Have direct deposit set up for our tax refund and there is no set date on when cheques will be mailed out for those who do not have direct deposit now the irs has stated in the coming weeks they’re going to set up some sort of online portal where you can go in and provide banking information for expedited payments but that tool is not yet available as of making

This video and obviously if you don’t have direct deposit on file you should expect your payment beyond april 17th based on when that portal goes online and i would assume that paper checks are going to be the slowest method to receive your stimulus check now we also found out that those who earn social security disability income or some veterans may have a massive

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Hoop to jump through in order to receive their stimulus check and that is the fact that they may have to file a simplified tax return this year if they haven’t filed tax returns previously the thing is a lot of these people in these categories are in such little money that they don’t have to file a tax return but if they haven’t filed a return they will have to file

A simplified version of a tax return before they receive their stimulus check and that simplified return is not yet available it is supposed to be coming out in the coming weeks and this is getting a lot of criticism from politicians and the media because number one people who are elderly are less tech-savvy and now they have to worry about filing the simplified

Tax return if they haven’t done it previously based on social security income and this is also a percentage of the population earning a very small amount of money who would be most in need of a $1,200 stimulus check and the argument here is that the irs already knows how to pay these people through their social security disability or veteran type benefits so why

Would they need to file a simplified tax return a lot of people are calling this an unnecessary hoop to jump through that is basically against the elderly and the low income earners and lastly we found out that a huge number of americans who may have been expecting a refund check well unfortunately you may not be getting one if you are a high school student or a

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College student who is currently employed and this also will affect your parents who may have been expecting a $500 credit because they claim you as a dependent unfortunately even if you have w2 income as a part-time worker even if you lost your job as a result of the virus and the shutdown’s you are ineligible to receive a credit if someone is claiming you as

A dependent and the way this works is students who are 24 or under who are still living at home depending on their parents for food and housing and in school full-time well they can still be claimed as a dependent on their parents tax returns and if you are claimed by somebody else you are not getting a stimulus check but that’s all fine and dandy because your

Parents should still get a $500 credit because you are a dependent right the sure is no because any dependent or child 17 or above is ineligible for the $500 credit per child in the household so in order to get $500 per child they have to be age 16 and under so in a nutshell high school students and college students who are working are pretty much screwed here

They’re not getting their $1200 checks and their parents are not getting the credit either and this is arguably one of the biggest demographics that have been affected by the shutting down of businesses as this is primarily the service workers those who are working as waitresses and waiters and so it’s a huge group of people who have lost their jobs in the service

Industry who are ineligible for any kind of relief credits and lastly we found out that immigrant families may be ineligible for checks for themselves or for their children because everybody in the household who is receiving a credit must have a valid social security number including children so that is another group that is left out of receiving these stimulus

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Checks so there you have it guys that is the update essentially high school students and college students are getting nothing zero dollars and their parents are getting nothing either because anybody 17 to 24 claimed as a dependent is not considered a child in receiving this $500 credit per child in the household we found out the irs has added a huge hoop to jump

Through that hurts senior citizens and low income earners who now have to file a simplified tax return in order to get their stimulus credit those who have direct deposit should expect to receive their payments by april 17th or sooner if you’re getting mailed the check the date has not been set and we should expect to see an online portal in the near future where

You can provide online banking information to expedite that payment but that’s going to be it for this video guys thanks so much for watching i hope you enjoyed this quick update i’m going to do my best in the coming weeks here to do update videos like this on anything related to the stimulus check as it’s affecting so many people who view my channel and if you

Want to see more update videos like this all that i ask is that you drop a like on this video for the youtube algorithm it helps this video to be shared with more people but thanks so much for watching guys and i will see you in the next video

Transcribed from video
YOU MIGHT NOT GET A $1200 STIMULUS CHECK (here's why) By Ryan Scribner

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