Richard Rubin

speaker

1,496 appearances 29 recordings 1 series first heard Oct 2017 last heard Jan 2024

Richard Rubin’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Coronavirus Relief Package: Who Gets a Stimulus Check? · 22 Dec 2020 podcast

And so Treasury Secretary Steven Mnuchin said that we should start seeing payments in bank accounts early next week. matched

But it seems like this is on track to happen relatively quickly, even faster than last time. matched

So they would get it a little bit later. matched

We're still trying to figure out exactly how long that would take. matched

The legislative text of the bill seems to suggest that payments will be done by January 15th, and then anyone who hasn't received one by then basically can claim it as part of their 2020 tax return. matched

So that's one thing that we're kind of looking for some additional clarity on as we go forward here is exactly how this would work. matched

For people who might need a paper check, it might be that you just end up getting it as part of your tax return. matched

So that's where the fact that it all gets reconciled on the 2020 tax return is important, but it's one matched

one way reconciling. matched

So if you had a child, anytime in 2020, they wouldn't have been reflected on the first payment or the second one. matched

And so you would get 1100 extra as part of your tax refund or lowering your tax payment when you file your 2020 tax return. matched

The other reason you might see some people have changes is if your income went down, say you earned matched

$100,000 in 2019, but then your income went down so you qualified for more for the full payment for 2020, then you'd be able to claim that on your tax return. matched

But the key thing is it doesn't go the other way. matched

If your income went up to go out of the range, then you don't have to pay that back. matched

Any payment you got, you don't have to pay it back if your eligibility, either in terms of income or dependence, changes between the time of the payment and the time that you file your tax return. matched

WSJ Your Money Briefing · Biden Tax Plan Could Face Roadblocks in Congress · 10 Nov 2020 podcast

In a 50-50 Senate with Vice President-elect Harris breaking any tie votes, they could move through some tax increases. matched

It would be tricky. matched

They'd have to be the tax increases that could get just enough support in the House and also sort of unite the moderate and progressive parts of the Democratic caucus in the Senate. matched

Because President Trump's tax plans for a second term were so vague, the Biden plan got a lot of attention. matched

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