Tax Rebates To Arrive Earlier Than Expected!

woooo hoooo!!!!!!

i'm not sure if its a good thing that money would arive the day we're leaving for our vacation. i might spend spend spend wooohooooo

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Posted by nifheim

i am wondering is it true we have to list this as part of our income next year? My dad informed me of that.

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100% incorrect. this isn't money that is added to your income next year at all.


from IRS.gov site:'


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. If my Stimulus Payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?

A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [New 4/11/08]

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

Hot Sh!t !!!

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Posted by nifheim

i am wondering is it true we have to list this as part of our income next year? My dad informed me of that.

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I don't think so. It's actually an advance on NEXT years rebate. If you get a refund, it will be deducted. But if not, you will not wind up owing them the money back. (I think!)

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Posted by MJDoc12

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Posted by nifheim

i am wondering is it true we have to list this as part of our income next year? My dad informed me of that.

---

100% incorrect. this isn't money that is added to your income next year at all.


from IRS.gov site:'


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. If my Stimulus Payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?

A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [New 4/11/08]

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

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You beat me to it!! Oh, and your information is accurate-thanks!!

yay!

i just posted on the other board
if you are getting DD it will be given monday through wednesday of next week and mailed checks will start ma 9th

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Posted by MJDoc12

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Posted by nifheim

i am wondering is it true we have to list this as part of our income next year? My dad informed me of that.

---

100% incorrect. this isn't money that is added to your income next year at all.


from IRS.gov site:'


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. If my Stimulus Payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?

A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [New 4/11/08]

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

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That's good to know!

I can't wait to get my $$- gonna by me a new cell phone finally!!

This is very GOOD news!! In time for the honeymoon in June

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Posted by failurebydsign

i just posted on the other board
if you are getting DD it will be given monday through wednesday of next week and mailed checks will start ma 9th

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This is what I understand to be correct. Guess we'll be waiting till May 9th.