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Quote: Bloomberg News, citing people who insisted on anonymity, reported that the White House is likely to propose an $800 tax rebate for individuals, a $1,600 rebate for households and investment incentives for businesses.

So how many of you think this will really happen, this would be so nice, I could really use it right about now. With the price of gas and fuel right now.

You can follow this story at http://www.nytimes.com/2008/01/18/business/18cnd-econ.html?_r=1&pagewa nted=2&hp&oref=slogin

Keep your finger crossed and hope they do agree to do this.

Posted: Fri Jan 18, 2008 7:45 pm Subject:

I heard this on the news this morning alos. It has happened before...either '99 or 2000?? Can't remember, but I did get the allottment so I know it is possible. Afeter reading all the comments on the news tonight and what the President said...I think it will happen. But they said late spring at the earliest.

Posted: Fri Jan 18, 2008 8:49 pm Subject:

I read about this as well today...so ar they sending checks or is it an allowable credit on your tax return for 08?

Posted: Fri Jan 18, 2008 8:57 pm Subject:

Wooo Hooo more money to try and pay off a debt Smile

or maybe buy a new dryer so that I can stop taking my laundry to the laundromat to dry Smile

Posted: Sat Jan 19, 2008 6:02 am Subject:

great goal puddle, lol

I think that it will be a check because some folks have already filed their income tax, I hope it is a check. I heard it was supposed to happen pretty quickly, in everything that I have read it is supposed to be in the next 30 to 45 days.

It looks like it is a go, everyone in the big house is finally agreeing on something.

I would use it to catch up on some bills, it would be awesome to get that right now, I sure could use it.

I will update this if I hear anything else, I am trying to follow it as closely as I can. I hope that you guys will update it too, it will keep everyone informed. thanks

Posted: Sat Jan 19, 2008 6:44 am Subject:

Well it doesn't make any different to me...I have yet to see any tax refunds..rebates etc. The last refunds they have sent to people with children or are in a different tax bracket and not one has applied to me.
So will see who get money and who don't. The IRS doesn't have sympathy for those of us who are alone and can make it without assistance. They think we have all the money we need...so I won't hold my breath~!

Posted: Sat Jan 19, 2008 10:20 am Subject:

I just seen on the news that it will be for everyone with an income limit of $150,00 0 and below, I feared that they would tag some ridiculously low income cap on it and it would just go to the population that only works part time or not at all, so it looks like they have put a reasonable income cap in place that will make us all eligible. I will see what else I can find out and post it here, if anyone else sees anything at all on this, please come here and post.

Posted: Sat Jan 19, 2008 10:27 am Subject:

Lets keep this thread up...this is a good one!

jos-any idea if you owe the IRS, will they give you the rebate check?

Posted: Sat Jan 19, 2008 11:03 am Subject:

It would be difficult for them to do it this year, due to as other people have said, some have already filed their returns and would have to file ammended returns to get the credit, and the forms have already been printed for this year.
IMHO, the only way that Bush could do it for this year would be to order rebates on payroll taxes that are currently being withheld. You also have to consider that it's going to take awhile for Congress to debate and discuss it and ultimately vote on it--so it's going to be tough to see it on taxes this year.

Posted: Sat Jan 19, 2008 11:27 am Subject:

Posted: Sat Jan 19, 2008 1:54 pm Subject:

Dont get too excited! The checks will not be going out until summer and will be disbursed according to SS# as it was in 2001.

The last time congress did this the checks were spent within days.

Posted: Sat Jan 19, 2008 1:57 pm Subject:

Go to yahoo news it is on there, I am having trouble with my internet, if I pull up two pages on this computer, it will knock me off, go to yahoo.com and look for the Bush economic stimulus plan, go to the paragraph where Paulson the treasurer is talking about issueing a check. [/quote]

Posted: Sat Jan 19, 2008 5:27 pm Subject:

this money would not come from the 2007 income taxes. They would actually send you a check. The intentions of these checks is to jumpstart the economy and hopefully head off a recession. Therefore, they are going to give it to the people they know will spend the money immediately. People like most of us. There thinking is if they gave it to people that made more money, they would just save it. Also, they have been saying this needs to be done ASAP. If they wait too long it will not have the impact they are hoping for. IMO i don't think it will be in the summer. I think it will be much sooner.

Posted: Sat Jan 19, 2008 5:34 pm Subject:

That's great!! I remember last time it was $200 or more depending on the size of your family..It will be some nice extra money, can't wait!!

Posted: Sat Jan 19, 2008 6:37 pm Subject:

Volley, to answer your question, if you do oew the irs, they will apply the rebate check to what you owe them. All refunds, rebates etc, go to pay down what you owe them.