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skibunny | I don't want a rebate? |
Is there anyway to stop the government from sending my tax rebate check to me? I don't want the extra 600 dollars. I read in an article on Yahoo that "the money actually is officially an "advance credit payment" against your 2008 income." So if I am going to have to pay on this money I am borrowing from the government I don't want it in the first place.
Can I tell them I don't want the check?
Additional Details
I read this on Yahoo here is the link:
http://finance.yahoo.com/taxes/article/104417/Tax-Rebate-Winners-and-Losers |
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ktlove
 |
I am with you, I don't want to blow it period. If I spend it, it will be on paying down debt, with a recession you pay down debt and save money. So, if I owe it back it will go in the savings account were I get intrest, and if its free, tax free, no need to repay money I sure as hell am not going to walmart to buy a buch of crap, its going to my gas tank or bills. Stimulus my A*SS.
How about this, WE DONT BORROW MONEY FROM CHINA TO GIVE TO AMERICANS AS IN ECONOMIC STIMULUS, just so we can just put it into big corporate bush's sponsored and funding big oil racket.
DUH!
or better yet, lets just print some more money to pay off this new 1.5billion debt. |
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Richard M
|
Don't do this. It will create a mess that you may never be able to straighten out.
Deposit the check in the bank, let it earn interest, then see what your tax situation is when your prepare your taxes in 2009. |
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seashell
|
You're kidding right? Even if it is applied to your 2008 taxes as income you still come out ahead. Why don't you just take the check. |
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hauntedsnowfortâ„¢
 |
Donate the money to your church, hospital, women shelter, SPCA or a charity you truly believe in.
The money will go a long way |
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ToYsTeMpTer
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unfortunately no, I've been advising my clients to put it in an interest bearing savings account. that way you earn a little something off it. |
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bobhikes
 |
You would be giving up free Money. Yes the rebate is officially an advance payment against your 2008 income. There is no interest charge against it and it will not effect your net taxes next year. The only thing it will effect is the Federal deficit. |
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travelguruette
|
I agree. I dont want it either. What you can do and I recommend you be careful if you do is have a little less taken out of your paycheck. It is my understanding that if your refund next year is less than your rebate you are not responsible to pay it back. |
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shanla
 |
It is tax free. Besides even if it was added to our income next year would that tiny amount make a big difference? I doubt it. But yet you could buy something you need or want and help stimulate the economy. |
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v b
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Get the check, cash it and send the IRS the $600 back as an estimated tax payment on your 2008 taxes. Label your check as 1040ES for 2006 and use a voucher from the 1040ES package. |
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Geodal
 |
I don't know what you read, but it was not accurate. Refusing the rebate will not make you owe less in the future. If you made enough money last year you are not entitled to the rebate, so just become rich with a high income and you will not have this problem in the future. |
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Cantor2002
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lol. If you don't take it now they will give it back to you when you file in 2009. That's like saying they decreased taxes but you are going to pay the increased amount and you don't want the tax breaks. |
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Chuck T
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Just sent it back to them with your explanation , I'm sure the good folks at the IRS could use a good laugh :)) |
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fabulousinky
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Its tax free, Its a gift. You dont want it, give it to me! |
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jesusrocks
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my understanding is that it is tax free.... |
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