O/T tax rebate

I don't usually do O/T posts but thought this interesting. I had lunch yesterday with my tax man. He tells me it isn't well known but whatever you get with your tax stimulis check that same amount will be deducted from your REFUND next Year. So in effect you are only getting your current years refund in advance.
If you are not scheduled to get a refund it will not apply. The money will be just that.They will not try to get the money back if you do not have a refund coming.
Also you must have had $3000 of income ,filed a tax return , have a SSI #, and not owe any back taxes to receive the check.
Look, I'm not saying this is 100% the truth, but it may be wise to change your deductions later in the year to make sure you are not due a refund.

There are surely some tax people on the HAMB.

 

So is this going to apply to next years taxes? Good God! Taxes are a joke.

"Here is your stimulous money now please pay the tax on that"

********!!!

 

Your tax man is misinformed, They are 100% tax free and they are not a advance pay on next years refunds. I know some tax people also and I have read a few things that state that these are just myth's that pessimist are creating.

 

of course they will. you are getting money from the government that wasn't taxed. they treat it as untaxed income at the end of the year. they don't call it a tax rebate, they call it a "stimulus check". I would guess they aren't going to deduct the entire thing from next years rebate, they are going to tax it. meaning you gotta give em back 25% of it

 

FALSE! (...though I still think the whole stimulus thing is a ****...)

http://www.irs.gov/newsroom/article/0,,id=179181,00.html

Q. Is my Stimulus Payment taxable?
A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.
Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?
A. No, the Stimulus Payment will not reduce your refund or increase the amount you owe when you file your 2008 return.

 

i agree...i dont belive our government will just give us money without some kinda catch. i will belive it when i see it!

 

"Hmm, all this is very... Stimulating," he said in a creepy way.

 

They are giving money back free and clear as stated on the IRS website. They have too, they were so greedy in the first place and destroyed the economy that now they are giving some back with an "oops were sorry".

 

Avoid taxes; send your stimulus checks to me. Endorse them over to me first.

 

That's the first time I've heard that. But, if it's true I'm going to more pissed at Bush than I already am.

 

READ WHAT PATMAN WROTE. IF YOURE STILL NOT A BELIEVER, GO TO THE LINK HE PROVIDED. ITS TO THE IRS WEBPAGE ON THE TOPIC.
END OF STORY

 

Here in Utah, the stimulous check will be asessed state tax! So I guess it wont be a non taxed in come for 2008 taxes.

 

We Need the Fair Tax!!!

 

**** taxes! Nice how our government has borrowed all the money to give us the "rebates" from china, we will pay back 100 times that amount by the time they get it paid back. do a google search and watch a movie online called "America, Freedom to Facism" it will make you fighting mad! its mostly about the tax system and the federal reserve.

 

when has your government ever told you the truth?

The only way i will believe a politician is when im holding a gun to his head while hes hooked up to a polygraph.

one wrong word and opps sorry i slipped

 

Time for a new "tax guy"

 

besides even if this thread has O/T in it..it will become Drama..and Political..and Closed!

 

Ignorant, they didn't tax it the last time.........or did you forget that one?

 

What I tell my kids: "That's not fair? You know what fair is? Fair is a place where pigs go to compete for ribbons."