 I'm confused about how money I will receive on my 2008 Tax Rebate. Please help..? |
| I understand so far that I will be receiving $600 for myself but I did claim my daughter as a dependent in my 07' tax return. She is a full time college student and is 23 this year, when she ... |
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 I was contact by a Mr. Abraham from the UK. I'm supposed to give the mail courier $936. Is this familiar? |
FREE AWARD DEPT.
The Marina Offices, St Peters Marina,
Newcastle upon Tyne, NE6 1HX
England
www.freelotto.com
Ref. Number: 87K4/336/T071/006
Batch Number: 468... |
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 What is the potential of getting 401K Termination Taxes back at the end of the year? |
We just bought a new house (2008), we have a new baby (2007) and I am interested in claiming my old 401K from a previous employer. The taxation would be 20% not including state (MO).
My ... |
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 Turbo tax, bad or good? |
| is this a good service? what brand/ editon shoud i buy? h and r tax cut or turbo tax? are they one time use only since new laws come out every year or do they update themselves? just wondering, any ... |
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| I have a full time job and i just started a part time job in november. do i have to file for my part time job |
| i know i have to file for my full time job. i didn't make very much for the part time job. is there a certain amount that qualifies you to file on seperate jobs?... |
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 Should my mother file a tax return this year? She didn't file a return from 1999-2002.? |
| She was working at that time. She retired and has been on social security since 2003. Never filed a return since being on social security because her monthly payments are small--about $800 a month. ... |
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 Why did I only get $300 for my federal rebate? |
| I thought it was based on income i made 20k last year and I only got $300 from the federal government. I have read many of the yahoo posts and don't understand why I only got back $300 instead ... |
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 What benefits would I be entitled to claim? |
Hi, I would welcome any advise that people could give me.
I work full time earning roughly £22,000 a year. My husband also works full time and he earns roughly £25,000 a year. We have ... |
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 Can i file separate w-2 forms? |
| i started a new job at the end of last year and have two w-2 forms will they let me file them at different times. or can i file the smaller one next year?... |
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 How much must you earn to file taxes? |
| I'm 17 right now and have a job.. however I heard if you make less than a certain amount, you don't have to file taxes for that year? Is this true and if so, what is that amount?... |
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 B4 my grandfather died, he put some stock in my name, and wished for it to be turned over to me when i was 18? |
| he left a woman named elaine as the custodial guardian, technically/legally it wuldnt be mine until im 21, but since he wished for it to be mine at 18, elaine cashed it and sent me a check for $10,000... |
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 Can my x wife file taxes by her self ? |
| me and my wife are getting divorced , it will be finalled in the begining of jan. I was the only one who was working and paying for everything until Nov when we get separated and she started working ,... |
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 I have a tax question? |
| I have three kids and i only claimed two of them on my taxes because someone had told me that your refund wont be any more for three kids than if i only claimed two. So i only claimed two of them. I ... |
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 Is it possible for my wife and I to get a refund on property taxes that our county now admits we overpaid on? |
| We felt we were overpaying on our taxes for years. Our neighbor has a very similar house and his taxes were substantially less. We grieved it several times using his house as a comp and were denied.... |
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 I havent filed my taxes in three years...? |
| what i wanna know is, what's gonna happen when i file my taxes this year? am i gonna get all my tax returns for those years or only from last year?... |
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jargon | Are the 2008 tax rebates going to be subtracted from our 2009 refunds? |
I've heard that our refunds in 2009 will be lower because of the rebates but can't find any information on that. |
 |
 
Richard M
 |
No.
One thing taxpayers won't have to worry about is giving back any excess if their 2008 taxes show that the advance this year was actually more than they should have received.
"If it turns out that credit on your 2008 return is greater, you get to take that additional amount," says Luscombe. "If it's lesser than what you got in 2007, you don't have to refund that back to government." The law says the IRS can't recover the extra payment by reducing your 2008 refund or adding to your 2008 tax bill. |
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SJ
 |
No. IRS official on the news last night specifically said it's 'free money' and will not affect your 2008 tax year at all.
Added:
In the Yahoo article TGGR- refers to it says this:
What will the rebate mean to my 2008 taxes?
Will I owe taxes on my rebate amount next year? What if this year my situation changes and that means my rebate amount should be less?
For most filers, says Luscombe, this year's rebate will appear as a simple gift from the government. The rebate amounts are tax-free. |
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Michael R
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No, think of it as extra withholding you paid the government. It is planned to start cutting checks in mid May. This is an economic stimulus package... waiting until next year will defeat the purpose.
Also it is based off your net tax. Which is the tax on your taxable income. Which is before any credits are applied.
1040 line 46
1040A line 28
1040EZ line 10 |
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blahblah
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"I guess they need some legal basis to give a rebate check so that's what they came up with," he said. "That would be tied to the 2008 return. That's similar to (the 2001 tax rebate), so basically you would reflect the rebate check as sort of a prepayment on your 2008 return"
So what if you owe taxes the following year? Do you owe that plus the stimulus amount? If not that kind of screws the people who paid taxes all year. So this really is not FREE MONEY, you will be paying for it in your next tax return. Please correct me if I am wrong. |
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Sheila
 |
That yahoo article is a good source of info. Check it out.
http://finance.yahoo.com/taxes/article/104417/Tax-Rebate-Winners-and-Losers |
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Cupid
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This article will provide answers to all of your questions about the rebate: http://finance.yahoo.com/taxes/article/104417/Tax-Rebate-Winners-and-Losers |
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hllywood72
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It is a tax rebate--in effect it lowers the amount of taxes you pay. If they decided not to actually issue checks, next year your refund (assuming you get a refund) would increase by the amount of the rebate. But since they are giving it to you in advance to stimulate consumer spending, you won't get it when you file your 2008 taxes. Which means that your 2008 taxes should be about the same as 2007. |
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TGGRLVR324
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Actually, yes. There is an article about it today on the front page of Yahoo. Check it out, interesting... |
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