Money for us, could this really happen

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.

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

:D Wooo Hooo more money to try and pay off a debt :) or maybe buy a new dryer so that I can stop taking my laundry to the laundromat to dry :)

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

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~!

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.

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?

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.

Quote:

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.

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]

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.

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!!

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.

I never got the money last time so I'm not getting too excited just yet ;)

Any help from Mr. Tax Man is welcomed by me! Bring on the savings!

And most importantly, take control of your finances and agree to be debt free in 2008!

I too think it will be much sooner, I hope so anyway, I sure could use a nice chunk of change like that right now. Slice her right down the middle and get rid of two annoying bills. Yippeeeeeeeeeeeeeeeeeeeee!

Thanks Kash :D

I owe them a little over $1000, so if they do take mine they will not be taking as much of my tax refund right?

I made a dumb mistake on my taxes a few years ago, this summer it came back to haunt me and I set up payment arrangements, it was pretty easy to do, they deduct it from my bank account once a month.

So here I am getting all excited about something that I probably won't see anyway. Oh, well hope that everyone else gets it and enjoys it.

Volley, you are welcome.

jos..ditto that. At least it will help reduce the amount owed...thats the way that I am looking at yet.

I could use the extra money to help put towards a down payment on a home.

I'm getting my tax refund in 2 weeks and with my Christmas bonus check coming on Monday I hope to be completely bad debt free by the end of this month!

It will then be time to work on my husbands debt which is mostly student loans and a couple of more minor stuff.

Yea for you FYI!!! I figure we won't get any of the money either--I think we will owe again this year.

Once when I was making payments to the IRS-we got some typr of refund and rebate--they took it and applied it to our balance. I wasn't too upset,it knocked our balance down!

The time I was upset was, we had a medical bill I didn't know about from years back, they had the IRS take our refund to pay them!!At lease we got rid of a bill--even if I didn't know about it!!

I too owe the IRS. If taxpayers do get any money back and they apply it to my balance that will bring it down and make it more manangable. That's enough to make me smile!

I've never heard of medical bills taking your tax refund. I thought they only did that for child support, if you owe the government or student loans.

I hadn't either! Come to find out--they were a connected with a University-thus making it part of a state run-financed place, I guess!!..karen

WoooHooo I may get my new dryer :)

Well, isn't that something, A lot of us here just get to give it back, LOL. Kind of funny, LET THEM PAY THE BILL FOR US, I did not think of it that way, until I just read this thread. OK, so with this little chunk of change added to my balance, I may get part of my refund back, which ever comes first, lol.

To all of you that are getting it back free and clear, I am happy for you, really, hope you spend it and enjoy, treat yourself to something nice, even if it is something little, :D :D

I read somewhere (CNN I think) that they haven't decided on the amount of the rebate yet but they did mention a few amounts, $300.00 - Single or $600.00 per couple, $500.00 - Single or $1000.00 per couple, $800.00 - Single or $1600.00 per couple. I'll take the last one! lol I doubt if it will be the largest amount though, but wouldn't that be GREAT if it were! Actually, I'm game for any amount!

Good Update Shazzers!

Just read this :)



There gonna start sending in May :)

This is what I have read to puddlejmper, there is a lot of time spent on this on the local news. They are running around like nuts asking people what they are going to do with the money, most people they asked said they would pay bills, rent and utilities.

The experts say to save it or pay off credit card debt. I am hoping that it will be a big chunk towards my irs debt, along with my taxes this year, it should take care of the whole thing that would have taken me over a year to pay off according to my payment plan.

My take on this is that Bush is doing this to look as good as possible before he leaves office--but this is a short-term thing and the economy won't see any long-term benefit from it. I think it's a ploy...If they really wanted to do something, they could lower the payroll taxes that are withheld--now THAT would be nice!

At this point I will take what I can get, I ain't turning down any of my money, LOL.

I second jos! a longer term plan, instead of a nadaid would be great, but in my own selfishness, this is going to pay down on my IRS debt by 50%.

between this and my refund, I should be paid in full. thank god.

well just finished my taxes and if we get this it should pay at least half of what we owe this year :evil: need to change some things :?