Tax Relief Check

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Or use it to offset the increased cost of fuel for your car.

Or save it to help offset the increased taxes needed to pay for the multibillion dollar regime change in the middle east.
 
Mine must be in the mail as my transmission up and died today with no warning. Total amount of the refund: $1800. Total amount of the repair $1900.
GO FIGURE...
 
There is a theory I heard the other day that your house knows when you have extra money. So beware, the roof could leak, your lateral to the street could be broken...
 
kornkob said:
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.



http://www.irs.gov./newsroom/article/0,,id=179181,00.html
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Good to hear. I had heard otherwise, but obviously my source was unreliable. Plus I just figured that's the way the Gubment would do it. Now I wonder, is the state going to consider it income...?
 
Investments... mutuals and ETFs, we better save the $$, because you know they will be looking to get it back one way or another. At least I can make some money off it before I have to give it back... isnt that what the govt. does with our taxes?

SWMBO and I each get $150 from the $1500 check to spend as we please. So the total investment from it was only $1200.
 
Liquidicem said:
4 tap Keezer for me!
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I would love to but I have too much outstanding debt that needs to be taken care of.
Oh well maybe by my birthday I'll have everything paid off and can afford the upgrade. Or maybe my companies stock will creep back out of the crapper and I can cash out the options I had planned on using to pay off the debt.

Craig
 
EdWort said:
They took mine so they could give it to folks who don't even pay taxes. :( Freeking Robin Hood.
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Both of my parents are in the same boat and aren't pleased with it.

I will be spending mine on new tires for the Jeep. SWMBO's will probably just go in the bank towards the wedding next year.
 
Professor Frink said:
It's not the same as a refund, you don't have to claim it on your taxes next year.
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Now that was something I just cannot understand. Why does one have to pay taxes on a tax refund, that money was part of your income and was taxed, you just happened to pay to much during the year and the gov't gives it back...:mad:
 
ColoradoXJ13 said:
Now that was something I just cannot understand. Why does one have to pay taxes on a tax refund, that money was part of your income and was taxed, you just happened to pay to much during the year and the gov't gives it back...:mad:
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The reason you have to claim your state tax return is because the year prior you claimed your entire state withholdings on your federal taxes. By claiming your tax return the following year this corrects that. So contrary to popular belief you are not paying taxes twice on this money. Understand????
 
Funny thing...I didn't think I would be getting a stimulus check since I didn't have to pay taxes this year (new house interest, medical expenses, married w/ 3 children,etc.). However, when I punch all the numbers in to the IRS calculator, it shows a payment of $2100???

I was under the impression this was a tax rebate...not free money. If I didn't pay taxes, am I really going to get anything back? Not that I have a problem with that...but it just seems odd.
 
:mug: Well, it's not a tax relief check, its an economic stimulus check and we are supposed to stimulate the economy. So I beleive the best way to do this is spend it all in one place.:mug:
 
TwoHeadsBrewing said:
Funny thing...I didn't think I would be getting a stimulus check since I didn't have to pay taxes this year...
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You DID have to pay taxes this year - federal income tax is withheld from each of your paychecks. If, at the end of the year, the amount that was already withheld is enough to cover your entire tax burden, you don't owe the government anything additional on April 15th. If the amount withheld is in excess of your tax burden, you get a refund.
 
I get to spend mine however my wife tells me to
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Think I'll be takin my share and buying a little 91 escort GT! to drive back and forth to work for 300 bucks. haha If I don't do that SWMBO will just wanna be boring and pay bills or buy yet something else for the unborn child who already has way too much stuff. Maybe I can squeeze a Keggle out of it..
 
TwoHeadsBrewing said:
Funny thing...I didn't think I would be getting a stimulus check since I didn't have to pay taxes this year (new house interest, medical expenses, married w/ 3 children,etc.). However, when I punch all the numbers in to the IRS calculator, it shows a payment of $2100???

I was under the impression this was a tax rebate...not free money. If I didn't pay taxes, am I really going to get anything back? Not that I have a problem with that...but it just seems odd.
Click to expand...
Did you still file a tax return? If so then you are eligible for the relief check.
 
Yuri_Rage said:
You DID have to pay taxes this year - federal income tax is withheld from each of your paychecks. If, at the end of the year, the amount that was already withheld is enough to cover your entire tax burden, you don't owe the government anything additional on April 15th. If the amount withheld is in excess of your tax burden, you get a refund.
Click to expand...

Actually, I had them withold taxes but I got it all back...so I effectively paid $0.00 in taxes. I've got no problem with extra money...I guess I'll have to wait until May 9th to see if the direct deposit goes through :).
 
IrregularPulse said:
Think I'll be takin my share and buying a little 91 escort GT! to drive back and forth to work for 300 bucks. haha If I don't do that SWMBO will just wanna be boring and pay bills or buy yet something else for the unborn child who already has way too much stuff. Maybe I can squeeze a Keggle out of it..
Click to expand...

But the Keggle is for the baby....you want to be able to pass it down to him/her when the time is right. :tank:

EdWort said:
They took mine so they could give it to folks who don't even pay taxes. :( Freeking Robin Hood.
Click to expand...

We barely made it under the cap. I wish they would have just let me subtract the stimulus payment off of the couple grand check I sent them this year. I'll have to wait until July to get mine back.
 
wihophead said:
The reason you have to claim your state tax return is because the year prior you claimed your entire state withholdings on your federal taxes. By claiming your tax return the following year this corrects that. So contrary to popular belief you are not paying taxes twice on this money. Understand????
Click to expand...

fine, but I reserve the right to not like it :D , and I also dislike how my taxes are being spent.
 
conicals baby!!!

and if theres enough left over, a nice Pepsi Cooler to keep them chillin at a cool 62F
 

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