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-   -   Every little bit helps.. (https://www.airlinepilotforums.com/money-talk/23889-every-little-bit-helps.html)

alarkyokie 03-20-2008 07:55 AM

Every little bit helps..
 
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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"Any sufficiently advanced technology is indistinguishable from magic." A.C.C. rip

FlyerJosh 03-20-2008 10:10 AM

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 03-22-2008 03:54 AM


Originally Posted by FlyerJosh (Post 344800)
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.

Huh? Explain please?

FlyerJosh 03-22-2008 05:18 AM

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 03-22-2008 07:00 AM

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.


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