Tax Relief Check

[Kimsta]

Wooohoo! Mine was deposited today... What to do with it now??

 

[tuckferrorists]

spend it like the gubment wants you to

 

[kornkob]

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.

 

[Wade E]

$1200 of my $1800 will go to filling mu oil tank!

 

[Professor Frink]

Half an hour with Eliot Spitzers...

Going towards remodeling the bathroom.

 

[CodeRage]

New/Used tires on the truck (needs em bad) and payiing off most of our small debt.

 

[Liquidicem]

4 tap Keezer for me!

 

[chillHayze]

This will be sunk into the wedding in 5 weeks. (yikes)

I had DD, should I expect it this week?

 

[Sea]

Don't forget it's taxable income.

 

[wihophead]

Don't forget it's taxable income.

No it isn't

 

[kornkob]

Don't forget it's taxable income.

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

 

[JustDave]

This will be sunk into the wedding in 5 weeks. (yikes)

I had DD, should I expect it this week?

Congrats!

It goes by the last 2 digits of your SSN:

http://money.cnn.com/2008/04/28/news/economy/rebate_update_monday/index.htm

 

[Professor Frink]

Don't forget it's taxable income.

It's not the same as a refund, you don't have to claim it on your taxes next year.

 

[chillHayze]

Congrats!

It goes by the last 2 digits of your SSN:

http://money.cnn.com/2008/04/28/news/economy/rebate_update_monday/index.htm

Looks like I am in the last last batch of Direct Depositeers, May 16. It comes when it comes I guess.

 

[Philip1993]

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...

 

[Kimsta]

4 tap Keezer for me!

Hmm... not a bad idea. Might as well drop it all on one place eh?

 

[MikeFlynn74]

Flooring- Beautiful laminate flooring.......

That ought to be fun

 

[Short Drive]

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...

 

[JVD_X]

Don't forget it's taxable income.

no kidding... what a joke.

 

[FlyingHorse]

no kidding... what a joke.

Yes, kidding:

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

 

[Sea]

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

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...?

 

[EdWort]

They took mine so they could give it to folks who don't even pay taxes. Freeking Robin Hood.

 

[The Pol]

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.

 

[MikeFlynn74]

They took mine so they could give it to folks who don't even pay taxes. Freeking Robin Hood

What are you Bill Gates??!?

lol I think the cap is stupid too

 

[CBBaron]

4 tap Keezer for me!

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

 

[Liquidicem]

Hmm... not a bad idea. Might as well drop it all on one place eh?

At least my half of it My wife has plans of her own for her half. Just doing my part to stimulate the economy...

 

[ohiobrewtus]

I get to spend mine however my wife tells me to

 

[Demon]

They took mine so they could give it to folks who don't even pay taxes. Freeking Robin Hood.

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.

 

[ColoradoXJ13]

It's not the same as a refund, you don't have to claim it on your taxes next year.

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...

 

[wihophead]

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...

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????