Did you all know this abt tax rebates

jannypie

http://www.nbc4i.com/midwest/cmh/search.apx.-content-articles-CMH-2008-01-29-0009.html 

That the tax rebates congress is passing is just an advance from our rebates from next year? So next year come tax time we'll either get less or pay more, depending on whichever it is you usually end up doing. How does that make any sense at all? It would only boost the economy this summer, and could really hurt us come next spring, right? Anyways I thought that they were rebate checks, as in rebates on money we'd already paid. Not rebates on money we'll pay next year. I's so confuzzled.

the_magic_number

I did hear about that.  Luckily DH and I usually get around $2K back so we will be okay but I remember thinking how much that would suck for the people who plan out their deductions carefully and either break even or owe a small amount.

buckeyechik

I didn't know that....I don't want it now.  We're planning on getting back around $1600 this year...that means we'll get a whole lot of nothing next year--just in time for a baby (hopefully.....)

brainstorm102

Ugh~ I knew there had to be a catch! It just seemed like it was too good to be true. I guess at least next year we'll at least have a good write -off.

Chrissy62903

Someone forwarded me this in email today on when you will get your checks. 

The check is in the mail Week Last 2 digits of your SSN Receive your check by week of 1 00 - 09 July 23 2 10 - 19 July 30 3 20 - 29 August 6 4 30 - 39 August 13 5 40 - 49 August 20 6 50 - 59 August 27 7 60 - 69 Sept. 3 8 70 - 79 Sept. 10 9 80 - 89 Sept. 17 10 90 - 99 Sept. 24 For married taxpayers who filed a joint return, the first Social Security Number on the return determines the mailing date.Source: Internal Revenue Service

Busty_Wench

This whole plan is so stupid.  Isn't spending money hand over fist what got so many people in trouble in the first place?  So the government wants us to go spend even more?  I heard on the news that the fed cutting interest rates had a better/more immediate effect on the economy than this scheme anyway. 

OK so I admit I'm bitter that last time they handed out these fantastic rebates my check never came.  Add that to my daily vent.

Temp536318000001135

Well, I've thought it was a dumb idea since the beginning but now this just proves it's a really dumb idea. And I thought the checks were supposed to arrive in May??

Wasn't this billed as an economic stimulus package so people would get the checks and spend the money? Well, I read an article this morning that surveyed people and only 1 in 4 said they actually planned to buy anything with it. Most people said they were going to put it in savings or pay off debt.

jannypie

we're planning on putting a down payment on a car this spring, so if those checks are mailed then we'll wait until it comes and add that to the to the downpayment as well. so we'd use ours. but it still kinda sucks.

buckeyebabe99

Wonderful. I'll get mine just in time to give it back to them when I have to pay more.  I'm not until the very last mailing.  Just stupid.

Rett*s_bride

I'm with Alison on this - I don't want it now if it's just an advance of 2008 tax refunds! Isn't is supposed to be $600 per person? That's more than DH and I usually get back in taxes, which means we're going to owe! Thanks alot Bushie!

ibbunee77

i think you guys are misunderstanding....

the rebate is an advance on a credit on 2008 taxes. so instead of giving you the credit next year... they are giving it to you now. it's still EXTRA money for you. it is above what you normally would have gotten back (if you normally get refunds).

read this article:
http://www.consumerismcommentary.com/2008/02/08/how-will-the-economic-stimulus-tax-rebate-affect-2008-tax-returns/