Bailout / Stimulus Discussion (Hints Missed & Shartz Fired)

If it works the same you can claim any missing payment on your 2020 taxes if your 2019 agi was too much.

I’m not sure if it’s going to. Plus, I plan on filing in the next week. Will be surprised if they are done by then

Discussed in other threads but it’s still just idiotic by the dems.

Again that’s only for the unemployed which is equal to our unemployment bonuses. Don’t know anyone else doing straight shimmy.

That said obv i agree with more stimulus

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At least they are finally doing something. This should have been on like 1/21.

I just got this emailed to me. Looks like if they think you might qualify they’ll contact you first.




INVITATION TO SUBMIT COVID-19 TARGETED EIDL ADVANCE APPLICATION

Application #123456789

Dear Superstud Awesomeguy,

The SBA is launching a new round of Economic Injury Disaster Loan (EIDL) Advances - called Targeted EIDL Advance - which provides eligible businesses with $10,000 in total grant assistance. If you received the EIDL Advance last year in an amount less than $10,000, and you meet the Targeted EIDL Advance eligibility requirements, you may be eligible to receive the difference up to the full $10,000. The combined amount of the Targeted EIDL Advance and any previously received Advance will not exceed $10,000.

Please review the eligibility criteria and application instructions below carefully before you proceed to the application portal for the Targeted EIDL Advance.

Businesses eligible for the Targeted EIDL Advance must meet ALL of the following eligibility criteria:

  • Located in a low-income community, as defined in section 45D(e) of the Internal Revenue Code. SBA will map your business property address to determine if you are in a low-income community when you submit your Targeted EIDL Advance application.
  • Suffered economic loss greater than 30 percent, as demonstrated by an 8-week period beginning on March 2, 2020, or later, compared to the previous year. You will be required to provide the total amount of monthly gross receipts from January 2019 to the current month-to-date.
  • Must have 300 or fewer employees. Business entities normally eligible for the EIDL program are eligible, including sole proprietors, independent contractors, and private, nonprofit organizations. However, agricultural enterprises, such as farmers and ranchers, are not eligible to receive the Targeted EIDL Advance.

We recommend that you have a copy of your 2019 Federal Tax Return on hand to assist you in completing the Targeted EIDL Advance application questions. You will also be asked to confirm that the information provided in your original EIDL application is still accurate. If there are any changes, you may be asked to provide documentation in order to determine if you are eligible for a Targeted EIDL Advance. Applicants that pass the initial eligibility requirements will also be required to electronically sign an IRS Form 4506-T allowing SBA to obtain tax transcripts directly from the IRS before we can approve your request for the Targeted EIDL Advance.

SBA’s goal is to process all requests within 21 days of receiving a completed application. All application decisions will be communicated via email. Due to limited available funds for the Targeted EIDL Advance program, SBA will not be able to reconsider applications through an appeal process, so please make sure that your information is correct when submitting your application.

If your request is approved, you will receive an email notification and an ACH deposit to the bank account you provided in your application. It is very important that you double-check your bank account information carefully before submitting. Incorrect or incomplete information may result in an inability to approve your request or successfully disburse your funds. Carefully review the information below regarding bank account deposits.

  • Double check that your account number and routing number are correct. They should be located at the bottom of your checks, if available. Log into your online banking account and locate that information there or contact your bank for confirmation.
  • Make sure that the routing number provided is usable for ACH payments. Many Advance applicants submitted routing numbers reserved for other types of payments which resulted in the inability to send them an Advance.
  • Bank name should be the official name of the bank; please contact your bank if you are unsure.
  • Ensure you provide a checking account to facilitate the ACH payment.
  • Double check that your account is still open and able to receive payments.
  • Before submitting, you must make sure that the bank account you are providing satisfies the following:
    • Account is opened using your business legal name matching the values entered in the business information section on your application. If you do not have a business legal name, the name on the account must match the business owner’s name.
    • Account has your business address and phone number matching the values entered in the business information section on your application.
    • Account is opened using your business tax id (EIN or SSN if no EIN registered) matching the values entered in your initial application.
  • Common reasons why the account validation might fail would be the account holder name does not match the business name on the application, the business name changed since opening the account, using a personal account for business, account being in someone else’s name such as a spouse or friend, reusing a bank account for multiple businesses that do not match the business name on the application.
  • If you do not have a bank account that satisfies the criteria above, there is a greater chance that SBA will not be able to approve your Target EIDL Advance.




This is followed with a link to a pretty simple online application where you answer a bunch of questions about how you don’t operate a rub-n-tug massage parlor, sell drugs or owe back child support, and then you enter monthly income for January 2019 - January 2021.

Looks like they sent you my letter on accident. Honest mistake

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Will be on the lookout.

Do you live in an obvious “low income zone”. I don’t remember that caveat the last time.

I think I do, literally just based on which side of the street my house is on.

Well my house became a low income zone in 2020.

At least I’ll qualify for the full 1400.

Oh man your lucky I have the opposite. I can look across my street and if I was on that side I would qualify.

Got my hopes up that since I submitted an application for increase on my own twenty-three days ago, maybe a decision would be waiting for me. But not even a copy of the email you poasted :sob:

Called SBA and was informed my application for an increase does NOT count toward the Targeted EIDL Grants now being awarded. No one can apply for those unless they receive that email letting them know they might qualify. Since I received no email, I am guessing that moving in with my sister to a different neighborhood DQd me.

My application to increase the loan is just in processing limbo for as long as it takes.

On the other hand, I saved 15% on my car insurance by not owning a car.

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From what I have gathered from Reddit EIDL thread it seems emails are going out in order of your first application.

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TY. Read up on the SBA’s new guidance document.

The SBA will begin sending email invites to businesses and nonprofit organizations that received the EIDL Advance in an amount less than $10,000 starting on February 1, 2021. It may take several weeks before all emails are sent to businesses in the first priority group so please do not be alarmed if you do not receive your email invite right away.

When will the SBA begin sending email invites to the second priority group?

The SBA will closely monitor the rate of applications and approvals for the first priority group and will announce a projected start date for the second priority group at a later date.

Do I have to re-apply if I received less than the $10,000 limit of Advance funds?

No. The Targeted EIDL Advance is a different program than the original EIDL Advance and has a different process. Here, the SBA will reach out directly to EIDL applicants who received an EIDL Advance of less than the $10,000 maximum and provide instructions to the business owners about how to provide the SBA with the required information to determine eligibility, and how to submit documentation for any additional grant funds.

My business moved since I originally applied for EIDL assistance. Am I still eligible for the Targeted Advance?

The SBA will reach out to you directly to confirm your address. If your address has changed, the SBA will request additional documentation to confirm the location. Once the location is confirmed, the SBA will determine if the location is located within a low-income community.

https://mobile.twitter.com/nataliejohnsonn/status/1359671100905504768

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@RiskyFlush

Did you ever get a paper check? I really have no idea how to get mine if it was indeed sent to the wrong address. USPS has my forwarding address but I’m not confident that’s going to matter.

I did not. The IRS told me my only current option is to file my taxes and claim it as a credit.

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This works well. We have a lot of dependents that were lol claimed on 2019 taxes for reasons and now they are filing single and get that 1,800

idk if this applies to anybody here, but it might explain why some people never received the 2nd stimulus and weren’t given a reason why. Cliffs: If you owe back taxes the IRS probably took your 2nd stimulus payment.

https://www.washingtonpost.com/business/2021/01/26/stimulus-payments-back-taxes/

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