alarkyokie

Check from your rich uncle...

The Internal Revenue Service outlined Monday how your Social Security number will determine when you probably will get your economic stimulus check this spring or summer.
http://www.kansascity.com/business/story/535313.html
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FlyerJosh

Yeah, but remember- it's not really a tax rebate- it's a tax advance. You will end up paying for it on your 2008 return.

ZapBrannigan

Huh? Explain please?

FlyerJosh

The rebates represent a 2008 tax cut. But instead of getting the tax cut next year, when you file your 2008 return, you'll get it this year.

Although you won't have to "repay" the rebate in 2008, it will most likely dramatically reduce the amount of your return when you file your 2008 taxes, just like the last rebate in the eary 2000's did.

beis77

I'm sure you'll have to pay taxes on the rebate though for 08... It's such CRAP IMHO that when you get a refund, that you have to pay taxes on your refund the following year. I'm sure the rebate is the same way.