IRS rebate checks info released[views:4375][posts:36]______________________________________ [Mar 18,2008 9:40am - the_reverend ""] IRS Finally Releases Mailing Dates The following information is courtesy the Detroit Free Press, which has listed the information very succinctly. Here’s how the checks will roll out: For the Efiler: If you file your return on time and request that your federal income tax refund is directly deposited, the stimulus payments will directly go into your bank account by May 2 if the last two digits of your Social Security number are 00-20. If the last two digits are 21-75, the date to remember is May 9. If the last two digits are 76-99, you’d get that money by May 16. For Mail in pesons But if you do not use direct deposit to get your federal income tax refund – or you are paying taxes owed when you file that 2007 return – you’re going to get your tax rebate check later. The rollout times are more complicated, too. If your last two digits of your Social Security number are 00-09, you could expect that rebate check to be mailed by May 16. It’s by May 23 if the last two digits are 10-18. It’s May 30 if the digits are 19-25. It’s June 6 if the digits are 26-38. It’s June 13 if the digits are 39-51. It’s June 20 if the digits are 52-63. It’s June 27 if the digits are 64-75. It’s July 4 if the digits are 76-87. It’s by July 11 if the digits are 88 -99 and the person did not use direct deposit of a refund this year – or if you wrote a check to cover money owed for the 2007 tax year. Note: an email going around for several weeks gave the dates in an August - October range. The email was incorrect. Link to report: Tax Rebate: The Basics Rebate checks should now be on their way in May, as the government attempts to jump start the economy and minimize the impact of a recession this year. How much you receieve depends on your Gross Adjusted Income for 2007, as stated on the 1040 form you'll send the IRS this spring. Most individual taxpayers will receive a $600 check, Couples will receive $1,200, with another $300 per child. Individuals who don't earn enough to file Federal Taxes, but who earn at least $3,000 a year, will receive a smaller check of $300. You will receive a smaller check if you earn more than $75,000, or $150,000 as a couple filing jointly. The cutoff is $85,000 a year for individuals, $174,000 for couples: Beyond that, you no longer qualify for any check. Again, the good news for lower income consumers who pay no Federal Income Tax, and Seniors on Social Security, : they will still be able to receive a check. The IRS will begin mailing out checks in early May, based on the last digits of your Social Security number (as they did in 2001). All checks should be distributed by August. Will you have to repay your rebate next year at tax time? Rumors are swirling that we're not really getting any extra money....that we will have to at least pay taxes on our 600 dollar rebate checks. The rumors are untrue. You will not be taxed on your rebate check. You will not have to repay it at tax time next year. One reason for the rumors: An incorrect CNN report last week, that has since been corrected. However, the incorrect version is now being spread by e-mail. This is an advance on an upcoming tax cut: You are not taxed on tax cuts. |
| __________________________________________ [Mar 18,2008 10:32am - metal_church101 ""] Thanks for the heads up Rev. |
| _______________________________ [Mar 18,2008 10:32am - Yeti ""] the_reverend said:Will you have to repay your rebate next year at tax time? Rumors are swirling that we're not really getting any extra money....that we will have to at least pay taxes on our 600 dollar rebate checks. The rumors are untrue. You will not be taxed on your rebate check. You will not have to repay it at tax time next year. i just can't believe this. i can't bring myself to believe that we are getting stringless money from the government. |
| ___________________________________ [Mar 18,2008 10:37am - brian_dc ""] it's all to stimulate the economy, man it's really not the worst idea. But it's kinda like the Fed loaning Wall St. a shit ton of money in the sense that it's not a real long term solution to our problems. Wise man once said, you cannot put a band-aid on AIDS, my friend. |
| _______________________________________ [Mar 18,2008 10:37am - SkinSandwich ""] It is called a "pacification campaign" YAY!!! Well, that is what I call it. |
| ___________________________________ [Mar 18,2008 10:39am - brian_dc ""] it is that, too But it's not only that |
| ________________________________________ [Mar 18,2008 10:49am - thuringwethil ""] "You are not taxed on tax cuts." I'll cash the fucker but this is a carrot on a stick, i.e. Vote Republican this year and you'll get a whole harvest of carrots! I actually like McCain, though |
| ___________________________________ [Mar 18,2008 11:06am - brian_dc ""] part of me wants McCain to win just so that the Democratic winner won't get blamed for the economic downslide we're about to go through that has a lot more to do with the asinine policies of the government (obviously not just exec. branch) of the last 10 years or so. |
| ________________________________________ [Mar 18,2008 11:11am - thuringwethil ""] in this order, for me at least. Obama > McCain > anyone else in the multiverse > Hillary. If it comes down to Obama I'd HAVE to go that way because as much as I like McCain and know he's only doing the crucial necessary campaigning, his sucking conservative Christian ass does not fly with me. That's like extending an olive branch to the Uruk-Hai. |
| ________________________________________ [Mar 18,2008 11:12am - thuringwethil ""] they want to take your heavy metal away. |
| ___________________________________ [Mar 18,2008 11:16am - brian_dc ""] McCain will have us back in Vietnam in 3 hours |
| _________________________________________ [Mar 18,2008 11:19am - brad weymouth ""] thuringwethil said:they want to take your heavy metal away. [img] i'm happy for this. me and my wife are getting 1800 for this stimulus deal. we're moving at the end of June to Illinois and the timing is fucking perfect. i need to buy a car out there. |
| ___________________________________ [Mar 18,2008 11:20am - archaeon ""] fuck you july 11th |
| ___________________________________ [Mar 18,2008 11:24am - brian_dc ""] where in Illinois, Brad? |
| ___________________________________ [Mar 18,2008 11:25am - Grizloch ""] Im 20 in college and a dependent, as such I am fucked, I get nothing and because Im over 17 my parents don't get the $300 for having me as a dependent, real shitty that the government would screw over the entire collegiate body, considering we are more likely to spend a ton of money on completely useless shit |
| ___________________________________ [Mar 18,2008 11:31am - brian_dc ""] the world feels the pain of college educated 20 somethings |
| _________________________________________ [Mar 18,2008 11:48am - brad weymouth ""] brian_dc said:where in Illinois, Brad? quincy, 2 hours from St Louis and 6 from Chicago |
| ___________________________________ [Mar 18,2008 11:51am - brian_dc ""] ah, nowhere near my family or where I lived for a couple of years |
| __________________________________ [Mar 18,2008 11:51am - W3 nli ""] so youre moving from weymouth to quincy weird |
| _________________________________________ [Mar 18,2008 12:06pm - brad weymouth ""] yeah, it is weird. but they pronounce it QuinSee. im gonna have to change that to the correct Quinzee pronounciation |
| __________________________________________ [Mar 18,2008 2:25pm - largefreakatzero ""] No rebates (or returns) for me this year :( I had to pay the man. |
| ___________________________________________ [Mar 18,2008 2:48pm - FuckIsMySignature ""] i already got my taxes back... only gotta wait another month and a half for this. |
| ________________________________________ [Mar 18,2008 4:45pm - DestroyYouAlot ""] How many people here are using the money to buy video games and electronic toys? *raises hand* BACK TO JAPAN WITH YOU, MONEY! |
| ___________________________________ [Mar 18,2008 7:18pm - SlyATNFAC ""] DestroyYouAlot said:How many people here are using the money to buy video games and electronic toys? *raises hand* BACK TO JAPAN WITH YOU, MONEY! new computer |
| _________________________________ [Mar 18,2008 7:22pm - W3 nli ""] DestroyYouAlot said:How many people here are using the money to buy video games and electronic toys? *raises hand* BACK TO JAPAN WITH YOU, MONEY! [img] |
| _________________________________________ [Mar 20,2008 2:34pm - metal_church101 ""] Where is the money going and how to use the rebate? As you may have heard the Bush Administration is sending each and every one of us a nice rebate to grow our economy! If we spend that money at Wal-Mart, all the money will go to China. If we spend it on gasoline it will all go to the Arabs, if we purchase a computer it will all go to India, if we purchase fruit and vegetable s it will all go to Mexico, Honduras, and Guatemala, if we purchase a good tv or car it will all go to Japan, if we purchase useless crap it will all go to Taiwan and none of it will help the American economy. We need to keep that money here in America, so the only way to keep that money here at home is to buy prostitutes, beer and visit Indian casinos, since those are the only businesses still in the US. |
| _______________________________________ [Mar 20,2008 2:40pm - Y_Ddraig_Goch ""] fuck, this is awesome, borrowing against the future! if you knuckleheads think there are no strings attached in this deal you are a sucker. they even worded it right, you won't be taxed for it in 09...expect a very slight increase in taxes over the next ten years to pay back with interest this "loan" cause that is all it is. |
| ____________________________________ [Mar 20,2008 3:02pm - fleshfries ""] I recently read a satire on how this is actually costing the average tax payer MORE money in the long run. |
| ______________________________ [Mar 20,2008 3:14pm - Yeti ""] it cost approximately 42 million just to send out those letters in the mail informing us of this. |
| ______________________________________ [Mar 20,2008 3:22pm - ellesarusrex ""] ive been waiting on that information. |
| __________________________________ [Mar 21,2008 3:07am - Grizloch ""] so its a loan from the government, with strings attached, so they are gonna screw us out of MORE money in the future than they are giving us now... not to be confused with all the money they are already going to be taking from us in the form of taxes to pay off the loans we have taken out in the form of citizenship, sounds like we are gonna be paying taxes in the future... oh... em... jee... wow, what a revelation... the true cutting edge of political and economic theory... lets all get pissed about it and form a mob, oh wait, you say there has been 200+ years of precedence, well then golly mr. you sure just burnt my britches, no, no, must stay pissed, I'm anti taxes and anti government, I'm edgy, Im cool, the rest of you are sheep, Im smarter than you... |
| ____________________________________ [Mar 21,2008 3:37am - fleshfries ""] I found a little bit of that satire... Waitress: $25k a year. And I'm not paying any taxes this year. Bush just gave me a $365 tax cut. Lawyer: Sure, you're getting a $365 income tax cut, but you're forgetting the $3,825 that was withheld in payroll taxes. Waitress: Oh, I don't mind the payroll taxes, because I'll get back every cent in Social Security and Medicare when I retire. Lawyer: Bush raided the Social Security and Medicare trust funds to pay for my tax cut. He took a $4.6 trillion ten-year projected surplus and turned it into a $1.8 trillion deficit. Say, do you have kids? Waitress: Two! Teddy's six. He has some learning disabilities, and Debbi's two. Quite a handful for a single mom like me. Lawyer: You know, my oldest son has a learning disability, too. Good thing I have him in private school, because the public schools are cutting back on special ed. Waitress: Yeah, I know. They told me that next year Teddy's not getting special ed. Also, they're cutting the after-school program. Lawyer: That's because Bush proposed cutting the 21st century community learning centers by forty percent. You may be saving $365 in income taxes, but that after-school program was spending $700 per student. So in a sense, you are already down $335. Waitress: But he cut my taxes 100 percent! Lawyer: If I were you, I'd be thinking about health care. Here in Texas, the're reducing eligibility in the children's health insurance program from $30,520 down to $22,890. So you are losing health coverage on both your kids, which was worth about $2,896 right there. Waitress: But what if my kids get sick? Lawyer: Just hope they don't. Because of the huge tax cut, the federal government can't fulfill its normal obligations to the states. Since you are a single mom on a fairly low salary, you must live in some subsidized housing, right? Waitress: Yes, we get a section 8 housing voucher in the mail every month. Lawyer: I'm afraid that's about to disappear. If you live in a two-bedroom apartment with minimum amenities and rent in about the 40th percentile range, that works out to about $747 per month. Waitress: That's about right. Lawyer: So your voucher to help cover 1/6 of your housing costs for a year is worth $1,464. Sorry, *was* worth. So now, less your tax cut, you are down about $4,695. Waitress: Well, as long as I have some child care, I can at least work without worrying about my kids, right? Lawyer: Texas is getting less funding for its Temporary Assistance for Needy Families. So they're cutting back on Child Care and Development Block Grants. Waitress: But I don't get block grants. Lawyer: Yes, but your child care provider probably does. Or did, I should say. Waitress: Are they doing something to my bus route to work, too? Lawyer: Probably. The state senate just cut public transit funding by 29 percent. They were going to upgrade the buses to cut down on the toxic emissions. Now they're keeping the old buses and raising the fares. Waitress: Debbi does get asthma on bad smog days. (long pause) Lawyer: Well, I should get back to work. Waitress: So I take it you're not voting for Bush next time? Lawyer: Are you kidding? I make $250k a year. I love Bush! Waitress: How big is your tax cut? Lawyer: $6,000. That's about sixteen times as much as you. And of course, the program cuts don't affect me. But the big payoff comes when my mother passes away. If she can hang on until 2010, I'm getting $12 million. Tax free. That's about a six million dollar tax break. Waitress: Oh, the repeal of the death tax. I guess that's fair, because that money was already taxed once when it was earned. Lawyer: Oh, no no. It's mostly capital gains. Never been taxed, and now it never will be. Unlike your tips. |
| __________________________________ [Apr 3,2008 4:44pm - jennifer ""] i am so thank full for this cause me and my husband are trying to pay all our bills off so it will help pay all of ours off so we will have more money to spend |
| _____________________________________ [Apr 3,2008 5:18pm - quintessence ""] this isnt going to help anything. Everyone will just pay bills that they owe. |
| ___________________________________________ [Apr 4,2008 10:38am - FuckIsMySignature ""] ya i'm using it to pay off one my credit cards for my own economic stimulous. the rest of the country is going down the shitter no matter what i do with the cash. |
| ______________________________ [Apr 4,2008 10:40am - Yeti ""] this is tattoo money. |
| __________________________________________ [Apr 4,2008 10:59am - largefreakatzero ""] jennifer said:i am so thank full for this cause me and my husband are trying to pay all our bills off so it will help pay all of ours off so we will have more money to spend post n00dz. |