Economic Stimulus Payments

[EZ_E]

Whatever. I paid $35k in federal income tax for 2007. Do I get a rebate? Yeah, a big fat donut hole. Meanwhile people who paid NO tax get money back. Interesting dynamic there.

 

What complete and utter BS.

 

That not true - You had to pay in a comparable sum to get back the rebate in this package. My Wife paid in in her part time job $218 and thats what she gets back - IF you paid of 35k in FED tax - You made too much money to really need it anyway

 

 

 

So, what you're saying is, "From each according to their ability, to each according to their need."

 

Because a man is successful, has brains and has gotten lucky in life financially certainly does not entitle a man to keep his earnings, the capitalist scum! Feed the poor, the tired and the huddled masses. Keep giving billions to countries that hate and mock us. Sure, I see your point.

 

p.s. How do you know if you're getting a check or not? I did get a letter a month ago so I should be getting one, I think.

[CHABSENTIA]

I don't know where people are getting their information. People need to go to the website which is irs.gov. Everything I have seen on the site and heard on their toll free hot line doesn't say this.

 

How could your wife get back $218.00? The rebate goes out by the last two digits of a persons Social Security number. If you file jointly then it goes out based on the Social Security number of the "main" filer. Since your wife only worked part time then this would mean that you worked less or not at all to make her the main filer.

 

The rebates are either $600.00 or $1200.00 based on a joint income if one is eligible. I have seen nothing that says "up to $600.00 or $1200.00. It is either $600.00 or $1200.00 on a joint return if you qualify at all.

 

The rebate is not dependent on how much tax you paid.If this is true then why would they tell people who don't normally file that they need to file to be elgible for the rebate?If they don't normally file then they owe no income tax .

 

Not all of a persons Social Security tax is nontaxable. There is a formula. If you are filling jointly and both people get Social Security then you take 1/2 of the Social Security . and enter that figure. Then you enter all of your other Incomes. Ifyou have Stock Dividends, Capital gains etc then you enter that. If the Total of these figures is less then $32,000 then they don't have to pay any tax on their Social Security Income. If it is more than $32,000.00 then they have to pay a graduated tax on their Social Security. In 1993 when Bill Clinton and his people in Congress raised taxes they passed this Legislation among other tax raises to shore it up. It is $25,000 for those sinfle people on Social Security and $32,000 for thise filing jointly.

 

Just because somebody is on Social Security doesn't mean that they don't have a tax liabilty.To be eligible for the tax rebate then I beleive that you have ot have at least $3000.00. to qualify.

 

Conversely I believe that the top income is $75,000.00 for single people and $150,000.00 for those filing jointly. I am not sure if the rebate doesn't exist at all or if they began to reduce it at these levels. So if a person paid 35 K in taxes then their Income was pretty high and they don't get the rebate.

 

People need to go to IRS.GOV . The rebate does not mean that if you are elgible that it takes away from your refund next year etc.It is a gift based on certain qualifying income levels.

 

I don't know who would want to admit it but if filing singly and you are a non resident alien or if filing jointly and one of you is a non resident alien then neither qualifies.

[gpnyc]

Whatever. I paid $35k in federal income tax for 2007. Do I get a rebate? Yeah, a big fat donut hole. Meanwhile people who paid NO tax get money back. Interesting dynamic there.

 

What complete and utter BS.

 

That not true - You had to pay in a comparable sum to get back the rebate in this package. My Wife paid in in her part time job $218 and thats what she gets back - IF you paid of 35k in FED tax - You made too much money to really need it anyway

 

 

 

I know your comment was at least half joking so I can't really get bent out of shape about it. The problem here is that there are people in this country who would say the same thing as you but actually mean it.

 

Any rebate would have been split between my my kids 529 college savings accounts so in effect, the government is stealing from my kids to give it to someone else less deserving. Kind of like what already happens every time I get paid.

 

Oh, and there's no such thing as too much money in NY. The cost of living is astronomical.

[SatTech]

Hey gpnyc, I feel your pain man... Paid about 33k to the fed last year, so even with my wife's smaller income, we don't qualify for the joint filing...Coulda used the money to help pay off our new AC we just put in (13k)...ouch.

[gmarguli]

Conversely I believe that the top income is $75,000.00 for single people and $150,000.00 for those filing jointly. I am not sure if the rebate doesn't exist at all or if they began to reduce it at these levels. So if a person paid 35 K in taxes then their Income was pretty high and they don't get the rebate.

 

This is one of the moronic things about it. $75K income may be great in North Dakota, but in California or New York it isn't nearly the same. It's very possible that a person in one of the higher priced states is struggling making $75K while another person in a lower priced state is just fine making $45K.

 

 

People need to go to IRS.GOV . The rebate does not mean that if you are elgible that it takes away from your refund next year etc.It is a gift based on certain qualifying income levels.

 

There is no gift when it comes to the government and OUR money. They have nothing to gift. They only can give us back what they took from us.

[MBA101]

"There is no gift when it comes to the government and OUR money. They have nothing to gift. They only can give us back what they took from us."

 

Well said.

 

I owed a few hundred this year, so I sent them a check and forgot to give my DD info. Therefore I do not have to worry about getting my money back until late June.

[pendragon1998]

There is no gift when it comes to the government and OUR money. They have nothing to gift. They only can give us back what they took from us.

 

Actually, this one is more like they're 'gifting' us what they borrowed in our name. I believe this cash just added onto the national debt.

[MBA101]

There is no gift when it comes to the government and OUR money. They have nothing to gift. They only can give us back what they took from us.

 

Actually, this one is more like they're 'gifting' us what they borrowed in our name. I believe this cash just added onto the national debt.

 

Those mallet heads in congress love to spend our money, don't they?

[jgrinz]

I don't know where people are getting their information. People need to go to the website which is irs.gov. Everything I have seen on the site and heard on their toll free hot line doesn't say this.

 

How could your wife get back $218.00? The rebate goes out by the last two digits of a persons Social Security number. If you file jointly then it goes out based on the Social Security number of the "main" filer. Since your wife only worked part time then this would mean that you worked less or not at all to make her the main filer.

 

The rebates are either $600.00 or $1200.00 based on a joint income if one is eligible. I have seen nothing that says "up to $600.00 or $1200.00. It is either $600.00 or $1200.00 on a joint return if you qualify at all.

 

The rebate is not dependent on how much tax you paid.If this is true then why would they tell people who don't normally file that they need to file to be elgible for the rebate?If they don't normally file then they owe no income tax .

 

Not all of a persons Social Security tax is nontaxable. There is a formula. If you are filling jointly and both people get Social Security then you take 1/2 of the Social Security . and enter that figure. Then you enter all of your other Incomes. Ifyou have Stock Dividends, Capital gains etc then you enter that. If the Total of these figures is less then $32,000 then they don't have to pay any tax on their Social Security Income. If it is more than $32,000.00 then they have to pay a graduated tax on their Social Security. In 1993 when Bill Clinton and his people in Congress raised taxes they passed this Legislation among other tax raises to shore it up. It is $25,000 for those sinfle people on Social Security and $32,000 for thise filing jointly.

 

Just because somebody is on Social Security doesn't mean that they don't have a tax liabilty.To be eligible for the tax rebate then I beleive that you have ot have at least $3000.00. to qualify.

 

Conversely I believe that the top income is $75,000.00 for single people and $150,000.00 for those filing jointly. I am not sure if the rebate doesn't exist at all or if they began to reduce it at these levels. So if a person paid 35 K in taxes then their Income was pretty high and they don't get the rebate.

 

People need to go to IRS.GOV . The rebate does not mean that if you are elgible that it takes away from your refund next year etc.It is a gift based on certain qualifying income levels.

 

I don't know who would want to admit it but if filing singly and you are a non resident alien or if filing jointly and one of you is a non resident alien then neither qualifies.

 

I read all that but it DOES NOT COINCIDE with what they are tell the TAX attorneys of Which I use one.

 

Time will tell .. I am a luck 93 so I am middle July arrghh

 

[ldhair]

I'm getting nothing.

Someone said folks had to pay it back next year?

I could be wrong but that's not how I understood it.

 

 

[WoodenJefferson]

I'm getting nothing.

Someone said folks had to pay it back next year?

I could be wrong but that's not how I understood it.

 

 

Rush Limbaugh probably said that just to create havoc...no, nobody is going to have to pay the monies back in 2008's return, so do not fret.

 

This is a freebee to those who qualify...it has been very confusing, but go to the IRS FAQ page and much is revealed.

 

Also, when I filed on-line with Turbo-Tax, it said that I qualified for the stimulus payment and gave me the amount to expect.

[astrostu]

[*]Bought a new desktop computer in February (replaced an outgoing 2001 model). Budget was $4.5k for it but spent $5.2k.

 

Damn, what'd you get?

 

• Bought a new desktop computer in February (replaced an outgoing 2001 model). Budget was $4.5k for it but spent $5.2k.

I hope you bought a Mac!

 

Yes, it's a Mac. $2439 for the 2x4x2.8 GHz processor, 2 GB base RAM, 320 GB base hard drive, upgrade to nVidia 8800 graphics card, plus wireless (apple developer discount). Then $1599 for 30" monitor (education discount). 4 GB extra RAM from OWC ($220). 2x500 GB more hard drives ($210). Apple developer membership, student ($100). Logitech MX revolution mouse ($55 after rebate). Logitech Z-5500 5.1 audio system ($250 after rebate + $40 for optical cable). And of course, the keyboard protector ($25).

 

 

Not to be a party pooper, but whatever you get, be prepared to deduct that amount from your refund next year. If you have to pay, be prepared to pay it back to the government. This is the same as the "rebates" following 9/11. Sorry!

 

Yes, I'm over this. My wife and I do not qualify to receive any money. And with the price of gas, I can use the money now rather than later.

 

See what CHABSENTIA wrote below your post. And I don't get refunds, I owe taxes every year since I have them take out the minimum amount from my salary, hence I see this as a refund on the $900 I owed this year.

[CHABSENTIA]

Congress agreed on the Bill as written and passed it in both Houses. They did not look at it as if a person had one cost of living here and another there. It was based on Income.

 

I used the word " gift" because it does not reduce your next years income or tax or whatever. There is no obligation to repay it in any shape or form.If I give somebody a "gift" they are not obligated to recpiprocate and it doesn't create any further obligation.

 

As for the $218.00 the IRS states that the rebate/gift is either $600.00 or $1200.00.If there were other obligations such as owing an amount of Money and this was a net result it still doesn't change the fact that the rebates are either $600.00 or $1200.00 and that the delivery of the rebates depends on the last two digits of a persons SSN and in the case of a Joint filing it then depends on the main income earner, So if the rebate was based on the wifes income then that means that she made more money than her spouse.

 

If one of the spouses is a non resident alien then neither will get a rebate. If there combined income is over a certain amount then neither will get a rebate. If either of them or a single filer owes back child support then the IRS will intercept the check and it will be applied to the back child support.

[CHABSENTIA]

People need to go to IRS.Gov. It explains most if not all of the questions about the rebate. It specifically states that "it does not reduce your 2008 tax if you qualify".

 

It also gives a toll free number specifically for questions on the rebate. It is not Interactive but I couldn't think of a question that wasn't covered between the two of them and most are covered on the website.

 

I couldn't imagine anybody getting tax advice from Rush Limbaugh or any other talk show host so I imagine this is "tongue in cheek".

 

I am not worried about any rebate.I usually do not file until the 10th of April whether I owe them or they owe me.I filed on the 3rd of April in order to get it in earlier because I figured there would be a hassle with everything.

 

I did their little formula thing and they said $600.00 I don't know if that means $600 total or $600.00 for each as it was based on the one SSN.It says $600.00 based on the input and there are other considerations.

 

 

 

 

 

 

[bsshog40]

I know that when they gave us??? that $500 rebate a few years ago, it was deducted from your next years tax refund. So this will not be the result for this money??

[Jeff S]

[font:Comic Sans MS]

How do you plan to spend the money?[/font]

 

I may just fly down to Costa Rica and gamble it all away!!!

[bsshog40]

[font:Comic Sans MS]

How do you plan to spend the money?[/font]

 

I may just fly down to Costa Rica and gamble it all away!!!

I would think just the cost of the plane ticket would eat the Stimulus check up!

[Oldtrader3]

I may have to use my "rebate" to pay some medical bills if I can not get Medicare straightened out. I receive disability income (for being 100% disabled) from my former employer until I turn 65 in September. Plus, my wife distributed a Canadian retirement fund from her late husband's trust account and paid 35% Canadian income taxes on the distribution in 2007 because she is a US citizen. The IRS, in their infinite wisdom, classified these two income distributions as "regular employment income" and sent notice to Medicare that we should be disqualified for primary Medicare insurance because we were both "gainfully employed".

 

I have not been able to work since 2002 and my wife is over 65, formerly widowed and has not worked for several years. Medicare immediately upon notice from the IRS, without checking with us, refused to process and denied medical claims for my wife's gall bladder operation and my medical bills. My secondary retirement medical insurance then refused to pay any medical bills because they aren't the "primary insurer", Medicare is.

 

This is about the tenth claim that Medicare has denied for my wife because they don't read their own policies. They keep disqualifying Medicare payments for her because I (the primary Medicare person) am on disability and not 65. The rules are that, because I am disabled, Medicare is and has been my primary insurance for 6 years. I spent 4 hours this afternoon trying to find the correct department of Medicare to fix this problem. Two of these hours were time that I was on terminal hold listening to elevator music while waiting to speak to a human.

 

I expect that the IRS will now attempt tax all of our 2007 Social Security, instead of 75% of it because we were "gainfully employed, NOT! Retirement turns out to be 15 hours per week spent on the phone, by both of us, trying to straighten out bureaucratic bungling by clerks at doctors offices, Medicare and insurance companies, et al. Welcome to retirement in a world run by 19 year-old clerks behind a computer screen who are not trained and do not care about doing their jobs properly. If you doubt me, speak with your medical care professional about this issue and watch his/her face turn blue.

 

Sorry for the rant, really bad day not at the office!

[CHABSENTIA]

Go to the website which is "IRS.GOV". I don't remember the $500.00 rebate.In the past I have not qualified for a lot of these things because some involved Children that were dependents etc and my children have grown and been out of the house for some time. Here are a few of the basics.

 

1. You must file for 2007.

2. If either spouse is a non resident alien then you do not qualify.

3. If either spouse owes back child support then the IRS will intercept it and deduct that child support before giving the payment.

4. If a Person filing singly has adjusted income of over $75,000 or married filing jointly $150,000 then you don't qualify for the rebate.

5. The rebate will either be $300.00 or $600 for a single person depending on their income and $600.00 or $1200.00 if filing jointly depending on their Income.

 

So for you and your wife it will be either $600.00 or $1200.00 period if you qualify and there is no reduction in next years taxes because of it.

 

If you have your refund going into direct deposit then the IRS has started giving these rebates a week early assuming you have already filed.They started depositing the rebates into dd accounts as of May 2nd.

 

The time of the refund will depend on the last two digits of the Social Security number of those filing single. In the case of those filing jointly then you will get the rebate depending on the last two digits of the main filer which is the person who makes the most dinero.

 

The last two digits of my SSN is in the nineties. My wifes is in the twenties. You have to have given both SSNs if you filed jointly

 

Because the last two digits of my SSN is at the end in the nineties and I did not give a bank number for dd then I am looking at the last week of June.

 

The dd deposits go out much earlier and if the checks are mailed then much later but both depends on the last 2 digits of the main tax filer.If you qualify and the last two digits of your SSN are 01 then the money is in your account.

 

Go to IRS.GOV and there should be a schedule depending on your last two numbers. etc.

[CHABSENTIA]

I used to own some Oil partnership shares in PVX which is a Canadian Company.A portion of the dividends went to Canadian taxes before I received the rest.There is a form that you can file with your U.S Taxes to recoup all or a portion of those taxes.

 

I am pretty sure that you can apply that 35% against your regular Income tax.

 

You need to go in person to your Local Social Security office. Both the IRS and Social Security people that you interact with on the phone have a 30 day refresher course or something along these lines and are not qualified to deal with most problems.

 

In some cases, you can make an appointment ahead of time to talk to a real qualified person or you will have to get there when the doors open and take a number.

 

I had to go when my wife became elgible because she is a resident alien.They can punch you in on a computer and get the info in an instant and they share with other Government offices They accessed her Immigration info and had each time she entered the Country and left it etc. They can also access Military records or any other Government Agency.

 

They were pretty efficient. The person you talk to on the phone is not only lacking in information but is misleading and does not have access to that Computer.

[Oldtrader3]

This is OT, but I have dealt with several IRS, Auditors over the years who were high school graduates that took a (6) week IRS course to be auditors. One an old return, an IRS auditor kept deducting my itemized deductions and then added them back into the "other Income" line (double counting). She kept sending me threatening letters demanding payment of the taxes on my itemized deductions for (18) months, despite repeated meetings with her about every (6) weeks to explain simple arithmetic.

 

This auditor finally threatened to garnish my wages to collect the taxes on my itemized deuctions. This was finally the final straw! I wrote to the head of the IRS in Washington, D.C. explaining the problem and enclosed copies of my file. Three months later, I received a refund of $700. and never heard from this local auditor again. Hopefully she was retrained or assigned to empty wastebaskets.

 

Last year, an auditor in the San Francisco, IRS office sent me a letter informing me to call for a court date because they were prosecuting me for tax evasion. No chance to explain or review my return with an IRS auditor. He was an asian man who was very difficult to understand on the telephone. I wrote him a letter explaining the error but he had decided that I was a criminal and nothing would deter him from prosecuting me. This agent's letter informed me to go directly to jail and do not pass go! The income in question was 1099, IRA income that I had listed on line 7 as "wages" based on a W-4 received for this IRA income. However I (dumb me) had not entered this income on the "other income" line (from the 1099 form) on my 1040 instead of the W-4. The IRS agent incorrectly had double-counted my IRA income. It cost me a needless $500. for a CPA firm to call, refile a corrected 1040 form and square this nonsense away.

[EZ_E]

...

[bsshog40]

I couldn't have said it any better!!

[Oldtrader3]

Those cartoons made my day, Victor, they are a hoot!

[Jeff S]

 

Thanks to RONS

[astrostu]

Okay, that last one, by Jeff is great.

[rrantique]

[bsshog40]

lol

[Oldtrader3]

Hoorah for the U.S. Treasury Department (IRS) and the Energy Department. They are doing a fine job (ha)!!!

[physics-fan3.14]

On a more positive note, we just drilled some new oil and gas. I should have that out to you in about a month.