OFFICIAL 2020 STIMULUS CHECK THREAD

As for the eidl seems like most here were on the up and up as far as owning a business or independent contractor status. That employee count though...
 
Lol a lot of people around my way were paying people 3k out of the 10k they got just to file.

I've heard this happen in DC and in Cincinnati.

Shenanigans were had with this one.

I wouldn't worry about the 1k loans, but those who got the 10k.......... yalls in trouble!
 
I mean cmon......the trap was obvious, if it’s too good to be true, it probably is....blessings to those that will slip through the cracks and flourish....but if I was ya, like someone else said, start putting some money aside.
 
ya they aint coming after you for 1k... i highly doubt it... you know how many people lie on their tax returns and get back thousands they dont deserve and get away with it...happens every year lol... unless its blatantly obvious like that 1 guy who copped a lambo
 
you go boy said:
ya they aint coming after you for 1k... i highly doubt it... you know how many people lie on their tax returns and get back thousands they dont deserve and get away with it...happens every year lol... unless its blatantly obvious like that 1 guy who copped a lambo
Click to expand...

Yeah true, thing is with the millions of Americans filing taxes the spectrum is toooo broad for them to narrow it down so they just rely on random audits, this right here tho, is not as broad as not nearly as many people put their names down to get that SBA loan, so it’ll be much easier for them to look into these names....you practically willingly put yourself under the magnifying glass over 1k and DONT think they’ll just look at that 1k don’t be shocked if you just guaranteed yourself an audit and your past years of taxes aint on point....like I said, a headache NOT worth having.
 
This **** almost feels deliberately planned to bait and hook people that have a tendency to try to get over on them...crazy.
 
John Wick said:
yall bugging thinking the IRS wont come for 1k shoot when you owe any taxes to them they collect and if you delinquent they just add interest over time to the loan they gave you and if you fail to pay it then they will take any taxes you are owed during tax time and they can levy your bank account and garnish your check.

take it from me who finally got the IRS off their back

the more i dont have to deal with them the happier i am they are petty as hell when it comes to collecting i went thru it took me 5 years to get out of it will never play games with the IRS again. Not worth the headache

and another thing if you owe the IRS any money good luck buying a house because they going to find that.
Click to expand...
Damn. Did all that ending up messing with your credit score?
 
Meh--not worried at all. That measly 1k grant was acquired legitimately for me (per their definition of independent contractor) and I have the records to prove it. I hope they let us eat again with the next package.

And I really don't see them sifting through all those grants and auditing everyone. It ain't gonna happen.
 
I have no dog in this fight and as a CPA I will say this. As long as when you applied and didnt put that you had 10 employees and you made a crazy amount of money last yr, you will be fine if all you got was the 1k. Now if you did the opposite of that and took the loan as well, you better be on the up and up b/c they will find out about that. I think the main thing with the investigation of fraud will be on the PPP loans. They are not playing with the rules on how that money can be spent.
 
Bert. said:
Pepper your angus fellas
Click to expand...
alot of people in this thread claimed they made only a couple thousand reselling stuff, I know people who have gotten 70k to 100k+ from these programs, i think they will be the ones audited.

if they auditing people for 3k in reselling they should be busy for the next decade lol
 
I changed my direct deposit bank account info and now I still haven’t gotten my check for this week. Usually comes on Tuesday
 
air spider 777 said:
I have no dog in this fight and as a CPA I will say this. As long as when you applied and didnt put that you had 10 employees and you made a crazy amount of money last yr, you will be fine if all you got was the 1k. Now if you did the opposite of that and took the loan as well, you better be on the up and up b/c they will find out about that. I think the main thing with the investigation of fraud will be on the PPP loans. They are not playing with the rules on how that money can be spent.
Click to expand...

That’s the main reason why I’m not stressing. I was truthful on how much I spent and made in profit last year from reselling (which honestly wasn’t much), I didn’t claim to have a bunch of employees or anything.

They offered me a 3k loan, I saw the loan was going to ask a bunch of additional questions, but I had no intent on taking the loan so I just ignored that.
 
John Wick said:
yall bugging thinking the IRS wont come for 1k shoot when you owe any taxes to them they collect and if you delinquent they just add interest over time to the loan they gave you and if you fail to pay it then they will take any taxes you are owed during tax time and they can levy your bank account and garnish your check.

take it from me who finally got the IRS off their back

the more i dont have to deal with them the happier i am they are petty as hell when it comes to collecting i went thru it took me 5 years to get out of it will never play games with the IRS again. Not worth the headache

and another thing if you owe the IRS any money good luck buying a house because they going to find that.
Click to expand...

The SBA must request to the IRS to audit PPP and EIDL loans. The IRS will not audit anyone without authority from SBA unless the tax fIler doesn’t include the grant as taxable income on their return. I may be wrong but with all the heat the SBA is under after not listening to Congress regarding what was written in the cares act, I doubt they waste resources on those who received $1k. $10k plus is another story.
 
Im good. I only got $1k but I did take a $24k EIDL loan. Im also a 1099 contractor so Im legit. The PPP loan is where you gotta be careful because it says its supposed to be spent on payroll.

That said, I honestly dont see the IRS really coming after anybody in here. They're gonna be looking for people that cashed out. $1k here or there isnt worth the time it would take.

Glass half full, glass half empty.. I wouldnt spend anytime stressin
 
People hear of “free” money and they swarm like vultures. They forget the old saying, don’t mess with the IRS.
 
You must log in or register to reply here.

Similar threads

HIM
|| DFS Player Props Thread || Prize Picks - Underdog - etc. ||
2
Replies
27
Views
1K
HIM
HIM

Thread Gallery

View Full Gallery

The ultimate sneaker enthusiast community.

NikeTalk was created as a way of giving back to both the sneaker enthusiast community and to the greater global community of which we are all a part.

NikeTalk is NOT affiliated with Nike Inc. in any way, shape, or form. All opinions expressed herein do not necessarily reflect those of Nike, Inc.

© 1999-2024 NikeTalk.com

Share this page

Back
Top Bottom