If the Government Sends Checks to Everyone?... What are you going to do with it?

[the_fixer]

Socially distanced hookers & blow

Kidding of course :)


Sent from my iPhone using Tapatalk

[StarBright]

We plan on paying a local company to install a new back fence (instead of DIYing it) and we're going to commission a piece of art from a local artist that we know and then pay the local framing shop to frame it (which I would also generally try to DIY).

Anything extra will go to our new take out budget. For the first time in our married life we are trying to get take out at least once a week to support the local restaurants that make our town a nice place to live.

[moof]

We are fortunate to still be employed and be making enough to mostly be phased out, so maybe buy a snickers.

[Miss Prim]

My husband and I are planning to donate all of ours.  We already give money at Christmas to people we know are in need, so some to them and will be looking for others that we know will be struggling.  My son-in-law has decided to bank the money in case they need it down the road and then after they are out of the woods, they will donate it.  Not sure what my son is going to do yet as he may end up on layoff, so he will probably use it to stay afloat.  We will help him out if he needs it, but not with the government money, we will use our own.  He is pretty mustachian, so he only has a mortgage payment to make.  Everything else is paid off.  We are retired and even though our 'stache has gone down, our needs can be met without taking much money out.

                                                               Miss Prim

[Rosy]

Not sure if I will get anything, but if I do I will either donate 50% of it to our local food bank and save the rest or if needed use 100% to support relatives.
Mr. R. will probably get the full $1200 and we plan on adding $1K to the EF and blow $200 on local restaurant take-out to do our part in supporting our favorite local restaurants.

[neophyte]

Hopefully donating a big chunk of it! So far I think I should be ok, but I live in an area with a huge amount of poverty (32% of household incomes are below poverty level and 15% are below 50% of the poverty level) and a lot of people here will really be hurting.

[sherr]

We are fortunate to still be employed and be making enough to mostly be phased out, so maybe buy a snickers.

My family won't be getting a check because
a) We had a 1-time sale of a rental property last year, which put our AGI much higher than it normally is.
b) I filed my 2019 taxes a couple weeks ago.

I don't really regret any of the decisions I made which were the best available at the time, and we don't really need a stimulus check. But still, it's sad to have missed out on a free after-tax $3,500 due to a confluence of coincidences. Oh well, I'll get over it. Maybe complaining about it on the internet will help. :)

I look up to you people who are donating it to people who actually need it, I would have probably selfishly thrown it onto the FIRE accumulation pile.

[sherr]

From what I read, the income limits are 2018 AGI, so I believe we will get the full amount.  Straight to the emergency fund.

By my reading it's "most recent AGI", so if you've already filed 2019 taxes it'll be based on 2019 AGI.

[M5]

Socially distanced hookers & blow

You win this thread!!

[dresden]

Interesting thing for me is I won't qualify based on 2018 or 2019 because of some one-time bonuses I received, but would qualify in 2020 since I retired Dec 2019.  I am hoping only the advance checks are based on 2018 and 2019 and those of us that had an income reduction will eventually get something when we file our 2020 returns.  It seems wrong to base it solely on older years esp with so many people losing their jobs lately.

[midweststache]

EFund.

I just got notice that we may be furloughing in the future (not directly related to COVID-19, but the pandemic is effecting my workplace). Throwing that money in the EFund will make me feel more comfortable with our cushion. Aside from that, I'll be divvying extra monies 75% EFund, 25% car loan. (Loan at 5% - was supposed to be paid off this June, a full three years early, but for myriad reasons it looks like it will be closer to December this year.) Typically we're 50/50, but given the upcoming furlough possibility, I'm looking to ramp up our EFund as much as possible.

[DadJokes]

My wife is only willing to give (most of) our check away if we can also get a Nintendo Switch. We've run out of lego games to play on our Wii U.

[PDXTabs]

We're in the phaseout range, and will get a partial check. It'll go into our savings account.

[Samuel]

Socially distanced hookers & blow

So strippers and blow...

[jim555]

Save it to pay all the new taxes from my state, because the economy has shrunk and they are in a hole.

[I'm a red panda]

Do payments for children get phased out too based on AGI?  I'm not sure I understand how that works.

But I think we aren't getting anything, or nearly nothing.  So, maybe, a carton of eggs?

[Proletariat]

My wife is only willing to give (most of) our check away if we can also get a Nintendo Switch. We've run out of lego games to play on our Wii U.

The new Animal Crossing has been my lifeline...highly recommend it (if you can find a Switch, currently sold out everywhere).

[cupcakery]

I'll believe it when the check clears.

I will take a portion of it and donate some money or supplies to one or more groups in town that are looking for donations.  For now my job and my husband's job seem safe, but I'd put some away just in case that changes.  It has also occurred to me that I may have to step up and help some family members.

[KBecks]

We probably won't get it because we make too much money so I would either donate it or spend it at local small businesses.

[skp]

We usually get a tax return, but this year owe a lot to the feds.  I'll just give the check back and call it even.

[Kazyan]

I'll use it as an emergency fund starter pack, since I've been ignoring the advice to have one. My job looks secure since we're an essential business, but higher-order effects haven't shaken out yet, so you never know.

[Cassie]

Will help our kids.

[HPstache]

The stimulus has now passed in the Senate and House.

[Samuel]

Nice they are basing this on adjusted gross income. Maxing out the 401k and HSA means I'll get around $1000 rather than $100.

I'll probably save it for now then eventually help out a knucklehead buddy who is finally beginning to see some flaws in his hand to mouth/paid under the table career plan.

[the_fixer]

https://www.omnicalculator.com/finance/stimulus-payment

Calculator that estimates how much you could receive.


Sent from my iPhone using Tapatalk

[HPstache]

https://www.omnicalculator.com/finance/stimulus-payment

Calculator that estimates how much you could receive.


Sent from my iPhone using Tapatalk

$3,900... I'm going to feel guilty receiving that!

[Cooper62]

Put it in the emergency fund for now.  May need it to cover bills if job goes away or have to take a pay cut. 

[LWYRUP]

More shares of VTSAX.

Wife and me = VTSAX

Money for kids = 529s (aka. baby VTSAX). 

[YttriumNitrate]

The amount we'll be getting should just about cover upgrading the problematic AC unit on our rental house to a new higher efficiency one. I figure  that will be a win for us because we'll be done with intermittent repair bills, a win for the tenants who will have lower electric bills, and a win for the local HVAC company.

[Engineer93]

Nice they are basing this on adjusted gross income. Maxing out the 401k and HSA means I'll get around $1000 rather than $100.

I'll probably save it for now then eventually help out a knucklehead buddy who is finally beginning to see some flaws in his hand to mouth/paid under the table career plan.

Wow, yeah didn't expect them to use AGI.  Maxing out two 401k's and an HSA will get us some money.

[LWYRUP]

Nice they are basing this on adjusted gross income. Maxing out the 401k and HSA means I'll get around $1000 rather than $100.

I'll probably save it for now then eventually help out a knucklehead buddy who is finally beginning to see some flaws in his hand to mouth/paid under the table career plan.

Wow, yeah didn't expect them to use AGI.  Maxing out two 401k's and an HSA will get us some money.

Yeah, I'm getting an extra $1,000 as a "good job maxing out your 401(k)" award.

[Shane]

Nothing in particular. Just deposit it in the checking account to buy us a month, or so, of not having to move money from Vanguard to pay bills. Pretty sure school taxes are due soon. Think it's something like $2200, so a stimulus check might come in handy to pay that off...

[FiguringItOut]

Budgeting it towards tuition payment for my freshmen student this coming September.

[darknova306]

I had been on the way to building an emergency fund and paying down debt before this all hit. So far, my job and paycheck are fine, but New York State isn't getting out of this for quite a while, so I'll likely be taking an income hit at some point. This check will go straight into the EF. If I don't have to touch this money before the dust settles and we go back to some kind of normal, I'll likely use it to pay down some debt.

Sent from my moto g(7) using Tapatalk

[waltworks]

I'm a bit torn. I have a very health emergency fund, but I also will have zero income starting in a month or so when I've run through my current orders (assuming no further cancellations). My wife's income has also gone to zero.

So maybe half save, half spend in the community?

-W

[Car Jack]

We expect $750.  Both college kids are dependents, so they get nothing.  I'll put it in my normal spending account.  It won't move the needle at all.  Quarterly bonuses are typically far more than this.  Wife starts a new job in a month, which will increase household income by 30%.  DS#1 graduates and starts his engineering job, probably beginning of June.  He's already aware that he'll be paying us rent money.  He'll also pay his own expenses which I currently cover.  So that will increase our savings by at least $1k a month.  We'll still cover his cell phone (family plan) and he'll use our "spare" car for commuting while he saves for a car of his own.  The spare car was totaled by DS#2 last fall, and I bought it back and fixed it with a $25 junkyard mirror.  So I pocketed $4800.  Of course our insurance went up.  Fortunately, my work pays insurance on the car, so it didn't hurt us beyond the taxes on the insurance amount.

[OtherJen]

We're projected to get $2400. It's going into the EF for now. We're both still working, but that could change.

[Metalcat]

I'm in Canada, so I'm eligible for $2000/mo since I'm self employed and have no income right now.
I'll be putting it towards my tuition for the program I'm starting this year.

[des999]

looks like I may get one after all, but my concern is I read if your 2020 income goes over the limit, you'll still be liable to pay it back.

Which, will most likely be me, as my 2020 income is expected to be quite a bit higher than 2019.  Can anyone confirm?

I guess I'd rather not even get it if I have to pay it back....  or I could buy stocks with it, hope they are worth more by the time I have to pay it back  Free loan  :)

[Peachtea]

looks like I may get one after all, but my concern is I read if your 2020 income goes over the limit, you'll still be liable to pay it back.

Which, will most likely be me, as my 2020 income is expected to be quite a bit higher than 2019.  Can anyone confirm?

I guess I'd rather not even get it if I have to pay it back....  or I could buy stocks with it, hope they are worth more by the time I have to pay it back  Free loan  :)

I’m not a tax attorney and this is not tax advice. I’m personally, absent future IRS guidance to the contrary, reading this provision as saying my 2020 credit will be reduced by the amount given in advance based on my 2019 return, but not below zero. Aka that I will not owe anything if in the next couple months I’m given an advance credit more than what I end up being allowed to claim when filing my 2020 return.

SEC 6428. 2020 RECOVERY REBATES FOR INDIVIDUALS.

. . .

(e) Coordination With Advance Refunds Of Credit.—

(1) IN GENERAL.—The amount of credit which would (but for this paragraph) be allowable under this section shall be reduced (but not below zero) by the aggregate refunds and credits made or allowed to the taxpayer under subsection (f). Any failure to so reduce the credit shall be treated as arising out of a mathematical or clerical error and assessed according to section 6213(b)(1).

https://www.congress.gov/bill/116th-congress/house-bill/748/text#toc-H25CA409D9D2844399CF965A38F83F6C6

[des999]

looks like I may get one after all, but my concern is I read if your 2020 income goes over the limit, you'll still be liable to pay it back.

Which, will most likely be me, as my 2020 income is expected to be quite a bit higher than 2019.  Can anyone confirm?

I guess I'd rather not even get it if I have to pay it back....  or I could buy stocks with it, hope they are worth more by the time I have to pay it back  Free loan  :)

I’m not a tax attorney and this is not tax advice. I’m personally, absent future IRS guidance to the contrary, reading this provision as saying my 2020 credit will be reduced by the amount given in advance based on my 2019 return, but not below zero. Aka that I will not owe anything if in the next couple months I’m given an advance credit more than what I end up being allowed to claim when filing my 2020 return.

SEC 6428. 2020 RECOVERY REBATES FOR INDIVIDUALS.

. . .

(e) Coordination With Advance Refunds Of Credit.—

(1) IN GENERAL.—The amount of credit which would (but for this paragraph) be allowable under this section shall be reduced (but not below zero) by the aggregate refunds and credits made or allowed to the taxpayer under subsection (f). Any failure to so reduce the credit shall be treated as arising out of a mathematical or clerical error and assessed according to section 6213(b)(1).

https://www.congress.gov/bill/116th-congress/house-bill/748/text#toc-H25CA409D9D2844399CF965A38F83F6C6

thanks for the info and the link Peachtea

[DadJokes]

We had planned on holding onto ours (minus maybe $500) to give to any friends who end up losing their income stream during this time.

However, after spending a lot more time outside, we are considering expanding our back porch a little. A year ago, I wanted a covered back porch (still do), but that would be a pretty significant price, and it would be difficult due to the setup of our home (window where roof would need to connect).

I'm going to get some quotes from contractors on expanding the back porch, and see what that would run us. The Google machine suggests that it would cost $1,900 or so.

[RFAAOATB]

I am going to pay ahead on my car loan.  The sooner I clear that out, the more flexible I can be in my cash flow.

[doc1232]

looks like I may get one after all, but my concern is I read if your 2020 income goes over the limit, you'll still be liable to pay it back.

Which, will most likely be me, as my 2020 income is expected to be quite a bit higher than 2019.  Can anyone confirm?

I guess I'd rather not even get it if I have to pay it back....  or I could buy stocks with it, hope they are worth more by the time I have to pay it back  Free loan  :)

I’m not a tax attorney and this is not tax advice. I’m personally, absent future IRS guidance to the contrary, reading this provision as saying my 2020 credit will be reduced by the amount given in advance based on my 2019 return, but not below zero. Aka that I will not owe anything if in the next couple months I’m given an advance credit more than what I end up being allowed to claim when filing my 2020 return.

SEC 6428. 2020 RECOVERY REBATES FOR INDIVIDUALS.

. . .

(e) Coordination With Advance Refunds Of Credit.—

(1) IN GENERAL.—The amount of credit which would (but for this paragraph) be allowable under this section shall be reduced (but not below zero) by the aggregate refunds and credits made or allowed to the taxpayer under subsection (f). Any failure to so reduce the credit shall be treated as arising out of a mathematical or clerical error and assessed according to section 6213(b)(1).

https://www.congress.gov/bill/116th-congress/house-bill/748/text#toc-H25CA409D9D2844399CF965A38F83F6C6

Does this only affect people who make more than 75K/150K in 2020?    I.E. if my wife and I make less than 150K, the stimulus check will not affect our 2020 tax refunds at all, correct?

This article (in the 3rd paragraph) makes it sound like if you are due a tax refund in 2020, you will only receive it if is more than the stimulus check you received, no matter your income.
https://www.dailylocal.com/news/coronavirus/what-does-the-stimulus-check-mean-for-your-taxes/article_d96e1aa0-729e-11ea-8123-ffd95baa7fd8.html

Thanks in advance

[maisymouser]

looks like I may get one after all, but my concern is I read if your 2020 income goes over the limit, you'll still be liable to pay it back.

Which, will most likely be me, as my 2020 income is expected to be quite a bit higher than 2019.  Can anyone confirm?

I guess I'd rather not even get it if I have to pay it back....  or I could buy stocks with it, hope they are worth more by the time I have to pay it back  Free loan  :)

I’m not a tax attorney and this is not tax advice. I’m personally, absent future IRS guidance to the contrary, reading this provision as saying my 2020 credit will be reduced by the amount given in advance based on my 2019 return, but not below zero. Aka that I will not owe anything if in the next couple months I’m given an advance credit more than what I end up being allowed to claim when filing my 2020 return.

SEC 6428. 2020 RECOVERY REBATES FOR INDIVIDUALS.

. . .

(e) Coordination With Advance Refunds Of Credit.—

(1) IN GENERAL.—The amount of credit which would (but for this paragraph) be allowable under this section shall be reduced (but not below zero) by the aggregate refunds and credits made or allowed to the taxpayer under subsection (f). Any failure to so reduce the credit shall be treated as arising out of a mathematical or clerical error and assessed according to section 6213(b)(1).

https://www.congress.gov/bill/116th-congress/house-bill/748/text#toc-H25CA409D9D2844399CF965A38F83F6C6

Does this only affect people who make more than 75K/150K in 2020?    I.E. if my wife and I make less than 150K, the stimulus check will not affect our 2020 tax refunds at all, correct?

This article (in the 3rd paragraph) makes it sound like if you are due a tax refund in 2020, you will only receive it if is more than the stimulus check you received, no matter your income.
https://www.dailylocal.com/news/coronavirus/what-does-the-stimulus-check-mean-for-your-taxes/article_d96e1aa0-729e-11ea-8123-ffd95baa7fd8.html

Thanks in advance

+1

We are in the getting-very-close-to-the-150k limit range as well for 2020 and I would LOVE to understand what will happen in commonspeak. I've read the article but am still confused. Maybe because my brain has turned to mush from working at home with my toddler for two weeks. Would love to hear more.

[terran]

looks like I may get one after all, but my concern is I read if your 2020 income goes over the limit, you'll still be liable to pay it back.

Which, will most likely be me, as my 2020 income is expected to be quite a bit higher than 2019.  Can anyone confirm?

I guess I'd rather not even get it if I have to pay it back....  or I could buy stocks with it, hope they are worth more by the time I have to pay it back  Free loan  :)

I’m not a tax attorney and this is not tax advice. I’m personally, absent future IRS guidance to the contrary, reading this provision as saying my 2020 credit will be reduced by the amount given in advance based on my 2019 return, but not below zero. Aka that I will not owe anything if in the next couple months I’m given an advance credit more than what I end up being allowed to claim when filing my 2020 return.

SEC 6428. 2020 RECOVERY REBATES FOR INDIVIDUALS.

. . .

(e) Coordination With Advance Refunds Of Credit.—

(1) IN GENERAL.—The amount of credit which would (but for this paragraph) be allowable under this section shall be reduced (but not below zero) by the aggregate refunds and credits made or allowed to the taxpayer under subsection (f). Any failure to so reduce the credit shall be treated as arising out of a mathematical or clerical error and assessed according to section 6213(b)(1).

https://www.congress.gov/bill/116th-congress/house-bill/748/text#toc-H25CA409D9D2844399CF965A38F83F6C6

Does this only affect people who make more than 75K/150K in 2020?    I.E. if my wife and I make less than 150K, the stimulus check will not affect our 2020 tax refunds at all, correct?

This article (in the 3rd paragraph) makes it sound like if you are due a tax refund in 2020, you will only receive it if is more than the stimulus check you received, no matter your income.
https://www.dailylocal.com/news/coronavirus/what-does-the-stimulus-check-mean-for-your-taxes/article_d96e1aa0-729e-11ea-8123-ffd95baa7fd8.html

Thanks in advance

+1

We are in the getting-very-close-to-the-150k limit range as well for 2020 and I would LOVE to understand what will happen in commonspeak. I've read the article but am still confused. Maybe because my brain has turned to mush from working at home with my toddler for two weeks. Would love to hear more.

Everything I've seen indicates that you won't have to pay it back, so in essence you'll end up with best case scenario between the 3 years, unless you already filed for 2019 in which case you'll up with the best case scenario between 2019 and 2020.

If income in 2018, 2019, and 2020 are all low enough to get the full credit, then as long as you filed taxes in 2018 or 2019 you'll get the money soon, and if you haven't filed, but file in 2020 you'll get the money then.

If 2018 income was too high, but 2019 income is low enough then make sure you file for 2019, otherwise you'll only get the credit if your income is also also low enough in 2020 and you file then.

If 2018 is low enough, but 2019 is too high then don't file for 2019 until you get the money. If you've already filed with 2019 income that is too high then you'll only get the credit if 2020 is low enough.

[terran]

I don't know if I will get it or not as my taxable income is from investments, interest and a small state gov pension and not earned income. If I qualify I'd get $1200 and put it in the EF for now.

There's no distinction made for income source, and no minimum income requirement from any source (though that was in some of the earlier versions of the bill). The only income requirement is that your AGI be below $75k single / $112.5k HOH / $150k MFJ.

[dignam]

Glad I've been maxing out the 401k.  I'd get hardly anything had I not been.

[Peachtea]

looks like I may get one after all, but my concern is I read if your 2020 income goes over the limit, you'll still be liable to pay it back.

Which, will most likely be me, as my 2020 income is expected to be quite a bit higher than 2019.  Can anyone confirm?

I guess I'd rather not even get it if I have to pay it back....  or I could buy stocks with it, hope they are worth more by the time I have to pay it back  Free loan  :)

I’m not a tax attorney and this is not tax advice. I’m personally, absent future IRS guidance to the contrary, reading this provision as saying my 2020 credit will be reduced by the amount given in advance based on my 2019 return, but not below zero. Aka that I will not owe anything if in the next couple months I’m given an advance credit more than what I end up being allowed to claim when filing my 2020 return.

SEC 6428. 2020 RECOVERY REBATES FOR INDIVIDUALS.

. . .

(e) Coordination With Advance Refunds Of Credit.—

(1) IN GENERAL.—The amount of credit which would (but for this paragraph) be allowable under this section shall be reduced (but not below zero) by the aggregate refunds and credits made or allowed to the taxpayer under subsection (f). Any failure to so reduce the credit shall be treated as arising out of a mathematical or clerical error and assessed according to section 6213(b)(1).

https://www.congress.gov/bill/116th-congress/house-bill/748/text#toc-H25CA409D9D2844399CF965A38F83F6C6

Does this only affect people who make more than 75K/150K in 2020?    I.E. if my wife and I make less than 150K, the stimulus check will not affect our 2020 tax refunds at all, correct?

This article (in the 3rd paragraph) makes it sound like if you are due a tax refund in 2020, you will only receive it if is more than the stimulus check you received, no matter your income.
https://www.dailylocal.com/news/coronavirus/what-does-the-stimulus-check-mean-for-your-taxes/article_d96e1aa0-729e-11ea-8123-ffd95baa7fd8.html

Thanks in advance

+1

We are in the getting-very-close-to-the-150k limit range as well for 2020 and I would LOVE to understand what will happen in commonspeak. I've read the article but am still confused. Maybe because my brain has turned to mush from working at home with my toddler for two weeks. Would love to hear more.

That article makes it confusing because they mix terms. The stimulus check is an advanced 2020 tax credit based on your 2019 or, if you haven’t filed yet, 2018 income. When you file your 2020 tax return, the credit will be applied based on your 2020 income, then subtracted by what you were advanced, but not below zero. It’s the credit, not your overall refund, that is being adjusted. Since the credit cannot be reduced below zero it won’t affect the rest of your return/normal refund.

Example 1. Your joint AGI in 2019 was $155,000. Your family of 2 adults gets $2150 automatically as an advanced credit (phase out amount). You end up having an AGI of $150,000 in 2020. Not taking the new credit into account, you expect a refund of $1500. A 2020 stimulus credit of $2400 applies for having income at or below $150,000. It’s then reduced by the $2150 you received in advance to $250. You get a refund of $1500 + $250 stimulus credit = $1750

Example 2. Your joint AGI in 2019 was $150,000. Your family of 2 adults gets $2400 automatically as an advanced credit. You end up having an AGI of $155,000 in 2020. Not taking the new credit into account, you expect a refund of $1500. A 2020 stimulus credit of $2150 applies, because you are in a phase out income level. It’s then reduced by the $2400 you received in advance to zero, rather than -$250, because it cannot go below zero. You get a refund of $1500.

Example 3. Your joint AGI in 2019 was $150,000. Your family of 2 adults gets $2400 automatically as an advanced credit. You end up having an AGI of $150,000 in 2020. Not taking the new credit into account, you expect a refund of $1500. A 2020 stimulus credit of $2400 applies, for having an AGI at or below $150,000. It’s then reduced by the $2400 you received in advance to zero. You get a refund of $1500.

[Peachtea]

looks like I may get one after all, but my concern is I read if your 2020 income goes over the limit, you'll still be liable to pay it back.

Which, will most likely be me, as my 2020 income is expected to be quite a bit higher than 2019.  Can anyone confirm?

I guess I'd rather not even get it if I have to pay it back....  or I could buy stocks with it, hope they are worth more by the time I have to pay it back  Free loan  :)

I’m not a tax attorney and this is not tax advice. I’m personally, absent future IRS guidance to the contrary, reading this provision as saying my 2020 credit will be reduced by the amount given in advance based on my 2019 return, but not below zero. Aka that I will not owe anything if in the next couple months I’m given an advance credit more than what I end up being allowed to claim when filing my 2020 return.

SEC 6428. 2020 RECOVERY REBATES FOR INDIVIDUALS.

. . .

(e) Coordination With Advance Refunds Of Credit.—

(1) IN GENERAL.—The amount of credit which would (but for this paragraph) be allowable under this section shall be reduced (but not below zero) by the aggregate refunds and credits made or allowed to the taxpayer under subsection (f). Any failure to so reduce the credit shall be treated as arising out of a mathematical or clerical error and assessed according to section 6213(b)(1).

https://www.congress.gov/bill/116th-congress/house-bill/748/text#toc-H25CA409D9D2844399CF965A38F83F6C6

Does this only affect people who make more than 75K/150K in 2020?    I.E. if my wife and I make less than 150K, the stimulus check will not affect our 2020 tax refunds at all, correct?

This article (in the 3rd paragraph) makes it sound like if you are due a tax refund in 2020, you will only receive it if is more than the stimulus check you received, no matter your income.
https://www.dailylocal.com/news/coronavirus/what-does-the-stimulus-check-mean-for-your-taxes/article_d96e1aa0-729e-11ea-8123-ffd95baa7fd8.html

Thanks in advance

If you made below 150k in 2019, and dialed a return already, you’ll get a $2400 check soon. If in 2020 you also make below 150k, it won’t affect your 2020 tax returns. It will show up as +2400 stimulus credit, -$2400 stimulus credit given in advance, wiping each other out. See my response to maisymouser above for more detailed examples.