On Thu, 25 Mar 2021 18:41:34 -0400, jmcquown wrote:

> Even people who didn't have enough income to file a return (much less
> expect a refund) for tax years 2019 or 2020 could have gone on the IRS
> website, filled out the 1040 Form listing whatever little income there
> was on their W-2's, or zero income, and provided them with the
> information for Direct Deposit.

Nope. There is no way to file a zero-income or negative return and
enter your direct deposit information if you're not receiving a
refund, either electronically or VIA snail-mail form. Even if you
owe and enter your bank info for withdrawal, it can't be used for
subsequent DD's.

There was a way to enter your DD information for "non-filers" for
the first stimulus checks last year, but they nixed that mid-April
of last year due to fraud and those people who did get in to use
that tool in the first 10 days got sent checks anyway. And it's not
been a option for the last two checks.

The people who REALLY got screed the last two stimulus checks, are
those used those "instant return" services from the major tax
preparers. All their payments were delayed an average of 2.5
months. Those scams are sponsored by Netspend/Metabank and those
people got royally ****ed. Netspend re-directed all those Instant
Tax Refunds to anonymous accounts for the purposes of stimulus
payments and didn't have to return the money right away (unlike real
banks). It was bnot a "mistake" as the Treasury claims - they knew
was going to happen. Because.....

Netspend/Metabank is also the suppliers of the Treasury Stimulus
Debit Card payments (which millions of people unwillingly received
instead of checks). They squatted on $6.2 billion dollars of money
from the last $600 stimulus payments for 30 days without
distributing the funds. They got that $6.2 Billion from the Feds on
Feb 6th and didn't start sending out any pre-paid cards until March
4th.

Do you know how much $6.2 billion dollars is worth to an unregulated
psuedo-bank for a mere 30 days? Even the WORST investment you could
possibly make with $6.2 billion dollars as a citizen is 30-day CD.
At current rates (if you could find a bank to offer you such a
shitty investment after they stop drooling) that would you net you
$200 million in just 30 days. Now imagine how much profit a
wholesale bank could make off of that same $6.2 billion compared to
a citizen.

And since they're a pseudo-online-bank (they sponsor no checking,
savings, or interest-bearing accounts) they pay no taxes because
it's all technically "debit".

In a nutshell, they intercept government funds and paychecks from
the "unbankable" citizens (of not just the United States) and have
an average daily balance of over $125 billion dollars which they
loan to - get this... TO BANKS (a pseudo-bank can't loan money to
individuals) at wholesale sub-prime rates for pure profit while
paying no taxes on their holdings. And while actually having NO
MONEY AT ALL. If you you had an average balance of $127B in your
savings account as a citizen or as a company or U.S. corporation,
what would your tax return look like every year?

That whole pre-paid debit card stimulus payments are making secret
millionaires at our expense (and half of them are politicians who
make the rules). Who got a pre-paid debit card instead of a check?
(I KNOW you haven't got one yet for the 3rd round). And when did you
get it in relation to others who have received checks or direct
deposits?

The math above was only for the last $600 payments. These are
$1,400 payments going to Metabank debit cards. It's disgusting the
fraud and manipulation going on here! And you know what I'm going
to do about it?!?! I'm going downstairs to get some ice cream!
(hey, it beats going postal in a grocery store).

-sw (Licensed TX CPA)