Tax Rebate/Economic stimulus

[WheelinJR]

I already got mine, it went toward the down payment on my WJ

I was scheduled for May 9th, got it May 9th.

 

[Ryno XJ]

Got mine on 5/12.

 

[JoesXJ]

Got our $1500 on May 8th, payed off all the new appliances on the Best Buy CC before we payed any interest (24 months - 0 interest with payments)!!

 

[Darky]

Married couples are supposed to get $1200 + $300/child correct? According to the notice we got said we were due for $1200. We're married with 2 kids, by my calculations that means we should be getting $1800. Am I crazy or what? Also, it says something about getting whichever is more(?) between the incentive and $300 if your witholdings were under $300 or something. I hate legalese/IRS language...

 

[DrMoab]

Married couples are supposed to get $1200 + $300/child correct? According to the notice we got said we were due for $1200. We're married with 2 kids, by my calculations that means we should be getting $1800. Am I crazy or what?

You should be getting 1800.

We are. we are married with two kids.

You can go to IRS.Gov and they have a deal where you can type in your tax info from 07 and it will give you the proper amount due.

 

[kunaji]

Being married I should have gotten $1200, but I only got $1168. That's still more than I had before the payment. I'm looking at it as free hardwood floors for my house.

 

[cherokee89]

My last two digits of SSN are low, but I haven't received it yet. It should arrive after the 23rd.

The whole thing is bullshit. Yes, it will be nice to get some ching, but it is coming from somewhere. Somewhere we will have to put it back. Most people are not in the best shape, so most of it will go to paying off debt, and not exactly stimulating the economy. This is a tactic to make the govt. look good to stupid people.

I wonder if I can get mine in all 1's. I'm going to Larry Flynt's! Put the mask on and dance for daddy!

(Disclaimer:some alcohol may have been involved in this post)

 

[kubtastic]

I discovered why I didn't receive a rebate (yet):

I owed the IRS for 2007, and paid by direct debit with E-File. IRS webpage explains this isn't enough information to direct deposit... Paper check only for me (although it was explained there was an exception, it's too late)

 

[TunaSoda]

So with the estimated 130 million checks being sent out averaging around $600, they can't think of anything better to do with $78,000,000,000 to stimulate the economy???

 

[DrMoab]

Our check came this morning.

 

[SanDiegoXJ]

Yes...this is an "advance" on your 2008 tax return. It's NOT free money. Here is the official bulletin I received from the IRS this morning on disbursement. If you processed your 2007 return by direct deposit, look under "Direct Deposit Payments"...and so on for paper check. People who used direct deposit will get their "rebate" first.

Stimulus Payment Schedule for Tax Returns
Received and Processed by April 15 ​

Direct Deposit Payments
If the last two digits of your Social Security number are:
Your economic stimulus payment deposit should be sent to your bank account by:
00 – 20 May 2
21 – 75 May 9
76 – 99 May 16
Paper Check
If the last two digits of your Social Security number are:
Your check should be in the mail by:
00 – 09 May 16
10 – 18 May 23
19 – 25 May 30
26 – 38 June 6
39 – 51 June 13
52 – 63 June 20
64 – 75 June 27
76 – 87 July 4
88 – 99 July 11

A small percentage of tax returns will require additional time to process and to compute a stimulus payment amount. For these returns, stimulus payments may not be issued in accordance with the schedule above, even if the tax return was processed by April 15.
All or part of an economic stimulus payment may be applied to back taxes or certain other debts of the taxpayer, such as delinquent child support and student loans. In such cases, the IRS will send a letter to the taxpayer explaining the offset.
To accommodate people whose tax returns are processed after April 15, the IRS will continue sending weekly payments. People who file tax returns after April 15 and receive a refund can expect to receive their economic stimulus payments in about two weeks after receiving their tax refunds, but not before the date they would have received their payment if the return had been processed by April 15. To ensure taxpayers receive their stimulus payment this year, they must file a tax return by Oct. 15.
Two bureaus of the Treasury Department are involved in making the payments. The IRS will calculate the amount of each economic stimulus payment based on the tax year 2007 income tax returns it receives. The IRS will then forward the information to the Financial Management Service (FMS), which is the bureau of the Treasury Department that makes federal payments such as Social Security benefits, federal income tax refunds and, now, economic stimulus payments.
The IRS reminds taxpayers that they can get their stimulus payments faster by using direct deposit when they file their tax return.

No where in there does it say it will affect the following years tax return. All it says regarding taxes is that if you already owe, it will be applied to what you owe.

And to affirm the previous post, this money will have no effect on next years taxes. You will have to claim your original tax return money on next years taxes, but you will not have to claim the stimulus payment. It is also not a prepayment of next years tax return.

And "rebate" simply means money back on an original payment....not a prepayment should you file next year. From www.dictionary.com:

1.a return of part of the original payment for some service or merchandise; partial refund.

You are correct, however, that it is not FREE money. It was our money to begin with...they're just giving it back....which is why payments will not be processed until taxes are filed.

Actually, there's a very angry post on here somewhere about how the original formation of the IRS was illegal yadda yadda yadda.... Kind of an interesting read, but at the same time, you can't help but wanna slap the guy for being a whiner. =)

 

[buschwhaked]

Somebody call the wambulance because I'm about to whine. :bawl: All of my 2007 income came from the military's favorite tax haven AKA Iraq so I didn't pay a dime except for SS and medicare. Anyway, when I filed every tax guy I and others talked to said the IRS would allow combat pay and your would qualify for a stimulus check. The IRS webiste now says that I don't qualify. :gonnablow

Mother f*ck*rs

 

[ladywolf]

its only........4am in WA, and i'm in iraq time, so my bank insnt exactly open yet for me to check


hopefully i qualify, considering i paid taxes for half of 07

 

[ladywolf]

well gee, thanx to the joyous government and deployments........i got a grand total of 300 bucks.

bla. fawkers.

 

[XJensen]

I found this on the IRS website and thought I would pass it along. It was a llittle hard to find on their site.

Find out how much you will get and the date you will recieve your money

https://sa1.www4.irs.gov/irfof/IRServlet?app=IRACTC&selectLanguage=en

 

[HaleYes]

My 1800 bones was deposited today.

Yeah, it's already spent.

 

[97XJ Jeeper]

Still nothing for me, been a week since it should have been in the bank. (May 9th)