economic recovery check or whatever its called.... when?

[SuperSpud]

so when do we get it? i forgot the official name but there was all sorts of talk about it earlier this year and all of the sudden nothing.

i got my taxes back today which was cool but when would the other one come around? is that even still happening?

[aziatiklover]

in april i think

[Kohinoor]

checks will be mailed out in may/june

[syntheticGT]

I am hitting the casino with mine.

No better way to spend our own money given to us by Uncle Sam that we are gonna end up paying back anyways....then gambling.

thats right...that sentence is run-on for a reason...

[got-vtec?]

who qualifies for this?

[imvi3t]

just about anyone that makes money? =D

[igotserved]

yeah, probably wont see this until may/june


oh btw, does anyone know if this will get taxed when we do next years income tax return?

[BigWalt]

yeah, probably wont see this until may/june


oh btw, does anyone know if this will get taxed when we do next years income tax return?

think its gonna be like it was a few years ago, they will take it out of next years refund :gonk:

[trick000]

apparently you won't qualify if your household made over 150k.

[PEPPERxWHiTE]

they will be sending out a form with questions that you have to answer and return...

most people will get them im april, and i dont think you will be taxed on this for next year. This is just to help the the flow of funds in the economy..

speaking of taxes, i need to do mine. I havent had time...its just extra cash for car parts so im not depending on it..=)

[RACER X]

it will be added to your 08's income and you'll have to pay taxes in '09 for it.

[syntheticGT]

it will be added to your 08's income and you'll have to pay taxes in '09 for it.

qfe!

[1SLOTEGE]

it will be added to your 08's income and you'll have to pay taxes in '09 for it.

I believe they said there will be a location to insert your rebate amount in the 2008 tax forms and then that amount will be deducted from your total tax return.

Either way it goes right back to them.

[1SLOTEGE]

I believe they said there will be a location to insert your rebate amount in the 2008 tax forms and then that amount will be deducted from your total tax return.

Either way it goes right back to them.

Actually maybe not....
http://www.irs.gov/newsroom/article/0,,id=179211,00.html
What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.

I wonder if it will just be pushed to the 09 return?

[arkive43]

yea i heard teh same that is will be taxed on next years return?

[Jeebus]

Its kind of a given if you ask me, I thought you were suppose to report all the money you make so I dont see why they wouldn't just tax it as part of your annual income. Either way you get some sort of money so who cares, take it and spend it. Kinda like when your job gives you a bonus, is that amount added into you income for that year?

[Gunz4Sale]

Ideally they want people to buy American goods with it, that way a larger portion is kept here.

[Jeebus]

Im buying japanese goods with it:hsugh:

[arkive43]

hahahahahah same here

[ninja]

I'm going to use it to hire some illegals to build a patio

take that, system

[NFRap1]

im gonna save it :idea:

[chris_smith_07]

Its kind of a given if you ask me, I thought you were suppose to report all the money you make so I dont see why they wouldn't just tax it as part of your annual income. Either way you get some sort of money so who cares, take it and spend it. Kinda like when your job gives you a bonus, is that amount added into you income for that year?

All I can say is WOW you are pretty smart.

Yes any money you make at your job is added into your final income.

[2k3spec]

If you want to see if you are eligible to recieve a rebate you can go to www.turbotax.com and on the bottom right side click rebate calculator. If your claimed as a dependent on someone elses tax return you will not be recieving a check.

[Gunz4Sale]

IRS just announced today they begin mailing on May 2, and expect to have 25% of the checks mailed within 3 weeks.

[edex]

i'm only getting 300 bucks... read the notice that came in the mail yesterday :gonk:

[Sarah]

i'm only getting 300 bucks... read the notice that came in the mail yesterday :gonk:

I am getting my full 600. Whoopie.

[o0 ls/chic]

saving it.

[Jeebus]

I got the later last night to, im assuming im getting $600. I plan to spend it on booze, clothes, and anything I dont need at all:D

[Sarah]

LOL, Jeebus. I am saving my check for the wedding expenses.

[Gunz4Sale]

I got no notice yet, and I already filed my taxes. Do they use the address of your 07 return to send you the check?

[Flores]

finally did my taxes... I didn't think I was going to get any rebate check, but apparently, even if your GAI is over the limit, they just pull back a bit, based on how much over you go.

So, married with one kid - the 'you make too much money' penalty = ~$1200

W00t! CANCUN FOR A WEEK, BABY! YEA!!!!

[Jeebus]

LOL, Jeebus. I am saving my check for the wedding expenses.

Youre not stimulating the economy by saving it:squint:

[Sarah]

Youre not stimulating the economy by saving it:squint:

i will stimulate the economy in December, til then in Savings.

[HPorkchopD]

From CNNMoney
WHEN YOU'LL GET YOUR REBATE
The order in which the IRS sends out payments will be based on Social Security numbers. If your return is processed by April 15, here's what you can expect.
Direct deposit payment
If last 2 digits of your SS# are: Your rebate should be sent by:
00-20 May 2
21-75 May 9
76-99 May 16
Paper check
If last 2 digits of your SS# are: Your rebate should be sent 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


Source:IRS


Quick Vote
Has the federal government taken the necessary steps to turn the economy around?

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NEW YORK (CNNMoney.com) -- The IRS on Monday said it would begin sending out 130 million tax rebate payments aimed at boosting the economy on May 2.

The order in which tax filers will receive their rebates will be based on the last two digits of their Social Security numbers, when they file and whether they opt for direct deposit.

The IRS said it expects to send out more than 25% of all rebate payments within the first three weeks. Most people will get their payments by July 11.

Filing a 2007 tax return is a prerequisite to getting your stimulus rebate check. And to receive that rebate this year, you will need to file no later than Oct. 15. The rebate will be sent separately from any 2007 refund you may have coming to you.

The most clear-cut schedule is for those whose returns are filed and processed by April 15. Generally speaking, it takes the IRS about two weeks to process a return, said IRS spokesperson Nancy Mathis.

For those filing on April 15 or beyond, they should receive their rebate payments about two weeks after receiving their refund if they're owed one, the IRS said.

To be eligible for a full rebate, single tax filers must have 2007 adjusted gross income (AGI) below $75,000 and joint filers must have AGI below $150,000.

Single filers with AGI below $75,000 will get rebates of as much as $600. Couples with AGI below $150,000 will receive rebates of up to $1,200.

In addition, parents will also receive $300 rebates per child under 17; there is no cap on the number of qualifying children eligible.

The IRS has created an online calculator to help tax filers figure out whether they're eligible for a rebate and how large it would be.

[HPorkchopD]

Link to said online calculator to help figure out eligibility

http://www.irs.gov/app/espc/

[Jeebus]

How do u do direct deposit? :dunno:

[Gunz4Sale]

wth 300 bux

[Gunz4Sale]

How do u do direct deposit? :dunno:

8008291040 call the irs

[HPorkchopD]

if you filed your taxes and chose direct deposit, it will go in that way...if you got a straight check they will mail it and it will take 1-2 months longer.

[HPorkchopD]

wth 300 bux

600 w00t !

[Jeebus]

if you filed your taxes and chose direct deposit, it will go in that way...if you got a straight check they will mail it and it will take 1-2 months longer.

lol. Damnit my 07 tax return went into an acct. I dont even has anymore.

[RACER X]

$1800, going towards our deposit for a house.

[Gunz4Sale]

lol. Damnit my 07 tax return went into an acct. I dont even has anymore.

same here, I just called the IRS and they told me you're sol pretty much basically. It's going to be returned which takes 10 days and then resent via paper which takes another 10. So ~21 days or so later you'll have it.

[Stacy]

i really dont care when i get the check as long as i get it, money is money no matter what day it shows up