Tax Rebates Announced $300-$1200 rebate check

http://consumerist.com/349671/poll-results-how-will-you-spend-your-tax-rebates

The consumerist's readership is a lot more savvy about money than, say, CAG readership... but the poll results follow what happaned in 2001.

The package isn't going to help the economy, and it just reduces global faith in the US economy. The world is going to watch the state of the union today, and Bush'll be saying things like 'The economy is in grave danger' or some shit that will further fuck the economy...

UGH!
 
[quote name='Dead of Knight']I like how beer and cigarettes got nearly 10% of the vote, while food gets a lot less. :lol:[/quote]I have a hypothetical i like to ask smokers.

If you were stuck on an island with no means of getting off and you could have an unlimited amount of food or cigarettes, which would you pick?

Amazingly, most smokers have a hard time answering that.:roll:
 
[quote name='crystalklear64']Buy $300 worth of american goods... good luck.[/quote]

Only problem is most American company products say "made in China" on the bottom.
 
Sounds like this is pretty much a done deal now. It passed the house and senate. Now it's up to Dubya to sign off on it. I read that the senate tried to get the unemployment extensions added back in. I guess the compromise was the checks for senior citizens.
 
So, I'm really fucking confused by all of this. Where can I find the details?

I barely worked in 2007 after moving cross country, and my mom, who I live with, claimed me as a dependent. Am I eligible? Will she get an extra $300 for me?
 
[quote name='Matt Young']So, I'm really fucking confused by all of this. Where can I find the details?

I barely worked in 2007 after moving cross country, and my mom, who I live with, claimed me as a dependent. Am I eligible? Will she get an extra $300 for me?[/quote]

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

I'll save you the hassle though. You were claimed as a dependent. You won't be getting anything.
 
[quote name='Matt Young']So, I'm really fucking confused by all of this. Where can I find the details?

I barely worked in 2007 after moving cross country, and my mom, who I live with, claimed me as a dependent. Am I eligible? Will she get an extra $300 for me?[/quote]Your mom will get the $300.
 
The IRS will start sending the checks out in May just to let everyone know. If you previously (for 2007) had a tax return direct deposited into your checking account then they will do it again with this rebate rather then send a paper check. Otherwise make sure you open every envelope you get in May.
 
[quote name='Eviltude']If you filed a return last year, you get your "rebate", no matter if you filed this year or not.[/quote]

Want to bet?

You do not qualify for an economic stimulus payment

The Economic Stimulus Act of 2008, which authorized the pre-payment of this one-time credit, stipulates that the payment is not to be made to any of the following:
  • Individuals who can be claimed as a dependent on someone else's tax return;
  • Nonresident aliens; or
  • Anyone who does not have a valid Social Security Number.
 
[quote name='mtxbass1']Want to bet?

You do not qualify for an economic stimulus payment

The Economic Stimulus Act of 2008, which authorized the pre-payment of this one-time credit, stipulates that the payment is not to be made to any of the following:
  • Individuals who can be claimed as a dependent on someone else's tax return;
  • Nonresident aliens; or
  • Anyone who does not have a valid Social Security Number.
[/quote]

good i should get it then..
 
[quote name='ryanbph']it is based off of your ss#[/QUOTE]

From what I heard is when you SS# ends in 00-20 you get them direct deposited starting today... snail mail is May 16-June 12(?)

Then every week after this week it goes in increments of 20 for the direct depositing.
 
[quote name='benjamouth']Does anyone know what the upper limit for getting a payment is?

I mean the "if you get paid more than X a year, you don't qualify"[/QUOTE]


Without looking it up, I believe it started to tier down at $75,000 for single or $150,000 as a couple.
 
Now, I'm assuming it means if you got your refund last year via direct deposit whether you filed electronically or through the mail then you will get a direct deposit of this check. I think our local paper misunderstood this as their explanation was that if you filed electronically you would get a direct deposit and if you filed via snail mail you would get a check mailed to you. Well, I filed via snail mail but with a direct deposit option on my refund.

It makes a huge difference as, being in the last group, it means the difference between May 16 and late July! We need the money soon 'cause our house desperately needs to get painted - we're going to start getting threatening letters about it from the HOA.
 
[quote name='io']Now, I'm assuming it means if you got your refund last year via direct deposit whether you filed electronically or through the mail then you will get a direct deposit of this check. I think our local paper misunderstood this as their explanation was that if you filed electronically you would get a direct deposit and if you filed via snail mail you would get a check mailed to you. Well, I filed via snail mail but with a direct deposit option on my refund.

It makes a huge difference as, being in the last group, it means the difference between May 16 and late July! We need the money soon 'cause our house desperately needs to get painted - we're going to start getting threatening letters about it from the HOA.[/quote]

Is it not the right shade of beige? ;)

I rather dislike HOAs. :bomb:
 
Hmmmm...

My social security number is in the range for the first wave of checks/deposits. However, I never got anything in the mail about the rebate check while all the people I know actually got papers from the IRS containing general information about the tax rebate program. Anyone else not get these papers?
 
I don't know if I did or not. I did my taxes through TurboTax and they asked me if I wanted a check or direct deposit on the rebate.
 
[quote name='R1V3R5']Hmmmm...

My social security number is in the range for the first wave of checks/deposits. However, I never got anything in the mail about the rebate check while all the people I know actually got papers from the IRS containing general information about the tax rebate program. Anyone else not get these papers?[/quote]


I didn't get any notice either, even though I did my taxes back in February. I'm also supposed to be in the second part of the direct deposits. Only reason I noticed is that my roommate got one, and then my parents(who to my knowledge probably still haven't done theirs) gave me theirs to look things up.
 
I actually got my money today. Funny thing though, I did the calculator on the IRS site and it showed me only getting back $300 but I got a deposit today for $600. No complaints.
 
Yea, my calculator said I'd only get $300, but i got $600 as well. I was really confused on if they meant 'paying taxes' as if you had to pay taxes on your wages, or if you actually owed money when you filed your taxes. Apparently it means if you've had taxes taken out of your wages for work, which unless you work under the table, i'd imagine is a good chunk of the workforce.


Time to blow it on the Gamestop B2G1.
 
I got $300 on the first day. Not bad considering I didn't work much last year, LOL
I want to know how much my BF will be getting. For those who said they got $600 and were supposed to get $300 how much $$ did you make last year? Also what qualifies you for $600?
I am on my phone now, so don't link me with anything please. Just a response would be appreciated :)
 
I should be getting my deposited into my account today, and while it won't be spent away on video games, I am going to Vegas in two weeks. Looks like I got a decent amount of gambling money to use.

~HotShotX
 
[quote name='lilboo']I got $300 on the first day. Not bad considering I didn't work much last year, LOL
I want to know how much my BF will be getting. For those who said they got $600 and were supposed to get $300 how much $$ did you make last year? Also what qualifies you for $600?[/quote]
As I understand it...

- If you paid less than $300 in taxes for 2007, you'll receive $300
- If you paid between $300-600 in taxes, you'll receive the amount you paid (so, if you paid $456 in taxes, you'll get a $456 check).
- If you paid more than $600 in taxes, you'll receive $600.
 
[quote name='Allnatural']As I understand it...

- If you paid less than $300 in taxes for 2007, you'll receive $300
- If you paid between $300-600 in taxes, you'll receive the amount you paid (so, if you paid $456 in taxes, you'll get a $456 check).
- If you paid more than $600 in taxes, you'll receive $600.[/QUOTE]


Well, if your adjusted income is over a certain level, your $600 will start shrinking pretty quickly.
 
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