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Jeff Stein Profile picture
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10 Mar, 4 tweets, 1 min read
Your dogs and cats do not count for the new Child Tax Credit, as they are pets, not children
My reporting suggests this does not qualify for any of the relief provisions in the stimulus package, per multiple sources
My understanding is that the IRS might view this differently depending on the quality of the disguise

You cannot claim yourself just because you act like a child

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More from @JStein_WaPo

Jeff Stein Profile picture
11 Mar
Answering some questions live at WashingtonPost.com
washingtonpost.com/business/2021/… Image
This is the question we seem to be getting most frequently today. I've answered it before but worth answering again here, as well: Image
Another frequent question we're dealing with, and a potential problem for Democrats/the Biden administration to have to deal with --> Image
Read 4 tweets
Jeff Stein Profile picture
11 Mar
Larry Kudlow, now at Fox Business, calls the Biden relief bill “LBJ Great Society to the 100th power”
Kudlow: “doesn’t this blow up the Clinton-Gingrich welfare reform and work requirements?”
“There’s nothing I can find in here that increases work requirements,” Kudlow says of the relief plan
Read 4 tweets
Jeff Stein Profile picture
6 Mar
Some hopefully helpful updates on how UI forgiveness plan works:

-- Applies to UI benefits in 2020; 21 doesn't count
-- You can file amended return if you've already filed
-- The $150K cut-off is *across filing types* - singles/HOH/joint
-- Cost ~$25B

Plz keep your qs coming
My understanding for the many people asking this question is that you can still file an amended return
Thanks to @ENPancotti for answering this one
Read 4 tweets
Jeff Stein Profile picture
6 Mar
Hello everybody. It is a little after midnight. The Senate is currently voting on a plan to cut unemployment benefits so they end July 18. It will pass. However, in a few hours they will take a separate vote to have unemployment benefits end Sept. 6 instead.
Could be sooner than a few hours! But not sure how much sooner
A very tired-sounding Sen. Sherrod Brown (D-Ohio) announces the Portman amendment fails, realizes his mistake and then says it has in fact passed 50-49
Read 8 tweets
Jeff Stein Profile picture
6 Mar
Dem aide trumpets agreement "ACCEPTED BY MANCHIN" (caps mine) to approve UI through Sept. 6 at $300/week. Includes tax forgiveness on $10K in UI below $150K annula income

Biden's initial plan: UI at $400 through end of September
Here's how UI unfolded -->

1/ Biden: $400/week through Sept

2/ House Ds: $400/week through August

3/ Senate Deal 1 (early today): $300/week through Sept. + up to $10K in tax forgiveness

4/ Senate Deal 2 w/ Manchin (just now): $300/week thru Sept. 6, + ~$10K tax forgiveness
Senate Finance Chair Wyden disappointed UI drop to $300, praises extension to first week of Sept -- rather than expiration in August w/ Congress out of session

"Having a cliff in August is a prescription for chaos. Our priority was avoiding that; we have been able to do that"
Read 4 tweets
Jeff Stein Profile picture
3 Mar
NEW: Biden-Senate compromise on curtailing stimulus payments results in ~12 million fewer adults & ~5 million fewer children receiving benefit, per @iteptweets analysis

~280 million overall still eligible for payments, ITEP says

washingtonpost.com/business/2021/…
Progressives blowback vs Biden-Senate D plan limiting eligibility on $1,400 checks

@AOC: "I dont understand the political or economic wisdom in allowing Trump to give more people relief checks than a Democratic administration. People went far too long without relief last year...
....if anything we should be more generous, not more stingy. It’s also an insensitive compromise for the roughly 80% of Americans that live in urban areas, which are known for higher costs of living"

washingtonpost.com/business/2021/…
Read 4 tweets

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