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FYI Stimulus package

Published:

I learn this morning, The stimulus package that we received last year.

In my case my family received $1800.00.  When u go to file your taxes

they r taking the money u received last year off the top of this year taxes.

H&R Block, in some cases is not informing the consumer. But in two other

cases the two ladies involve were inform by their tax preparer. 

  My point in all of this is why give us the money if they plan on taking it back,

or at least give the taxpayer an choice if they wanted the money in the

first place.  I see no point in taking it if u have to pay it back. I thought that

the government was suppose to b trying to stimulate the economy

hummmmmmmmm! a bunch of bull if u ask me.

Entry #13

Comments

1.
Comment by SBIP$999 - January 29, 2009, 3:38 pm
That's interesting. I just did my taxes online a couple of days ago. I noted they did ask about the economic stimulus check, but my 1040 has a line for Recovery Rebate Credit (line 70) so I assumed this was just a check and balance to be sure people got the right amount of rebate, and if they did not then they could get a credit for it in this year's refund. It doesn't make sense that it would be added onto the top of your income, especially given that we may have another rebate this year. My stimulus check was not added to my income, but then maybe it is different if you received a larger rebate.
2.
justxploringComment by justxploring - January 30, 2009, 1:06 am
I don't know who told you this, but the stimulus check is not taxed. Some states are taxing it, but not the IRS.
3.
justxploringComment by justxploring - January 30, 2009, 1:08 am
Hi again. I signed on with a difference browser so I could paste this.

From the IRS web site

Q. Do I have to claim my stimulus payment as income on my 2008 income tax return?

A. No, the stimulus payment is not reportable as income on your 2008 income tax return.

4.
charmed7Comment by charmed7 - January 30, 2009, 9:12 am
I know this info was told to me by two ladies that had file their
taxes, I'm gonna call my tax preparer and find out a little more
on this, It just didn't sound right to me. Maybe they owed
something else. hummmm? don't know.
5.
justxploringComment by justxploring - January 30, 2009, 11:30 am
People tell lots of stories. I'm not a tax professional but you can call the IRS. Nobody asks you for your name or soc sec number. There is a national number and most states have local offices. They're really not "monsters" as people portray them to be. They're just like us trying to do a job. (not that I like paying taxes or even approve of them, but the people you call aren't getting the money! lol)

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