 I heard the IRS is a fraud, do you think so? |
i heard that is not against the law to not pay your taxes, however the catch is, you would never be able to borrow anything like a mortgage...what do u think?
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 I friend of my check irs.gov and it said that a check in the amount of $600.00 is scheduled to be mailed? |
on april 4th.Could he be getting his rebate already?By the way its says filing period december 2006.
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I just spoke to my friend .He called the irs and they told him ... |
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 How do you calculate sales tax in your head? |
| i know how to do it on a calculator but whats an easy, accurate way to do it quickly in your head? Sales tax here is 6%. Thanks!... |
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 Do I have to pay taxes? |
| I am 17 years old and just started working (paid min. wage) and I turn 18 in October. My mom claims me on her taxes. So do I have to pay taxes too?... |
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 My paycheck is being garnished $305.00 per mt, I.R.S $495MT child support.$250.00pmt.? |
| I am overwhelmed I only make $2400.00 per month. I can not even afford to buy my child cloths for school. I have tried to deal with the I.R.S. and Ca shesta and San Bernardino chils support officals ... |
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 How are you going to spend your $800 federal tax rebate? |
| Now that the federal government has announced plans to give back $800 to the people (which they should do all the time! What do all those rich people need that money for!?!?! It is our rights as ... |
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 Is Inheritance tax immoral ? |
| We work most of our lives and pay tax on our earnings, we spend most of our income and pay tax on what we buy, if we have a little over we put it away for our old age and the interest gets taxed,then ... |
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 My ex-boyfriend claimed our son his taxes...? |
| & our child support order wasn't in place until June 1st. He didn't live with us for a majority of 2007. I told him he COULD NOT claim our son as he is a "non-custodial" ... |
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 How do you turn someone in for not reporting income to the IRS? |
I know someone in sales that doesnt and hasnt reported thousands of dollars in sales/commission. How can I nail her?
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i know its kind of shady but I'm just info ... |
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 HYPOTHETICALLY SPEAKING, if in the upcoming tax season what if the IRS finds that? |
| a significant number of say, Utah residents were gifted significant cash gifts from the LDS church that say, were similar in amount to what they coincidental contributed to say, some political ... |
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 I owe a small amount of money to the IRS. How do I find out where I need to send it.? |
| After I completed my taxes I owed something like $12 federal. Where do I send this???... |
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 Is there a law requiring us to pay taxes? |
Not a amendment, A LAW.
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What is the law and where is it?... |
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 Anyone receive a 2nd letter regarding their paper check? |
| Just wanna know has anyone got a letter telling them when their paper check is coming? My ss is 55 and we are June 20 on the schedule but I just read someone got a 2nd letter from IRS saying may 16 ... |
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| Can you please check my english.? |
Accountancy fee for the last year was overstated by £470 in the accounts for S Ltd,
and thus underpaying the tax liability.... |
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 Stimulus checks...? |
| So I heard they were depositing the checks into the accounts of those who did direct deposit on their taxes and it was suppose to have been done on Mon., Tue., & Wed. Has anyone received theirs ... |
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chevelle67402 | On this stimulus package to be signed, do we pay that money back next year during tax season? |
I was asked this question at work and did not know the answer. |
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Richard M
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No, but it will impact your 2008 taxes.
While the rebate depends on your 2007 income, it is actually a rebate toward your 2008 taxes. According to the proposed plan, in 2008, taxes would be cut from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers.
It's like a one time tax cut for 2008, but you get the rebate now instead of waiting to file your 2008 taxes. Because this is an advance payment on your 2008 taxes, your refund next year could be more (or less!) depending on your 2008 income. |
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bostonianinmo
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No, you won't pay it back.
The "rebate" is actually an advance payment of new credit on your 2008 tax return. That's similar to the past, however 2 protections are built in this time -- probably based upon the screams from some taxpayers the last time. Congress really DOES listen and has a pretty good memory as well when they want to. (Interesting what an election year can do...)
First, if you get a payment that you should not have received, you'll get to keep it! Yep, a genuine freebie!
Second, if you don't get a payment (or get less than you should have received based upon your 2008 tax return filed in 2009) you'll get any missing amounts when you file your 2008 return in 2009. |
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GreatHomes&Loans
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NO. The dates the check will be to everyone and the amount is already posted on the IRS web site. |
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Michael R
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No it's a rebate from any 2007 taxes paid or if you didn't pay any tax but made more than 3,000 it's a tax refund much like the EIC.
So it is not a advance on next years tax return. |
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DODIE
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I read an update online the other day that stated unlike the last rebate we received this rebate would be free and clear. We would not have to claim it on our 2008 tax returns because it is regarded as a tax cut not a tax advance. However, I have not seen this information on the IRS website. There are so many questions unanswered at this time. The IRS website states it will have the answers to all of our questions as soon as everything is finalized.
The amount you receive will be based on your 2007 tax liability. The earlier you file the earlier your rebate will be mailed. |
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Judy1
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Sort of. But next year the tax rate on what's now the 10% bracket will become zero, so that tax decrease will even out with the rebate that you are getting now, otherwise your taxes would go down next year - the rebate is an advance payment of that amount. |
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lucee
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This is like a bonus. It is not to be "paid back." And hopefully the Pres. will sign it as soon as the Senate releases it. Congress was aiming to have the money in people's hands by May 1, but it may be later than that. I know I can use whatever I get, whenever I get it! |
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Ken
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No, you will not have to pay any rebate back; nor will it affect what you may get back when you file your 2008 return next year. There seems to be a great deal of confusion about this. This is NOT a rebate of 2007 taxes. A tax cut is being made for 2008 affecting money earned this year. Rather than sending you the money next year, too late to stimulate the economy, the rebate amount is an advance on what you would have received from the tax cut. You get it now in the hopes you will spend it to revitalize the economy. |
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r_kav
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Good answer from Boston as usual, but another way to state it is that the amount will be based upon your 2007 tax return, but if your 2008 tax return status would get you a larger amount, you will get it then. For example, if you have a baby in 2008, that will happen.
Therefore you get a total based on which ever year is best. |
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ebosgramma
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If this package goes through we do not pay it back next year. |
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nealeclark
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My understanding is that the check is a prepayment of your 2008 tax refund and as such will be deducted from your tax refund in 2008. Similar to the stimulus checks of 2002.
But if you do not have a refund coming in 2008, then you will not be required to pay the money back.
If you do have a refund, the IRS will take the refund up to the amount of the check.
So plan to have a very small refund or a small amount payable to avoid having to "pay it back". |
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