2008-03-26T22:55:06Z opencongress.org tag:opencongress.org,2007:/bill/comments/48831 2008-03-26T22:55:06Z tag:opencongress.org,2008-03-26:/comment/3704 Anonymous Where is the government getting this money from? 2008-03-01T18:31:08Z tag:opencongress.org,2008-03-01:/comment/2073 Anonymous does people on total disbility get a part of the is package 2008-03-01T18:52:01Z tag:opencongress.org,2008-03-01:/comment/2074 Anonymous i think we are going pass recession straight into the biggest depression known to mankind and no end to cause of the money ungry oil maggits 2008-02-29T19:14:06Z tag:opencongress.org,2008-02-29:/comment/1879 Anonymous Well what I want to know is: When do you get the checks? How long till we receive them? Anytime soon???? 2008-03-03T21:30:31Z tag:opencongress.org,2008-03-03:/comment/2251 jallen_007 Possibly July, hopefully in time to celebrate America's Independence on the 4th... 2008-02-08T21:10:15Z tag:opencongress.org,2008-02-08:/comment/714 weasel No, no, you got it backwards. The money is free, of course. Not even taxable. The bottom line is, that if you are eligible, you'll pay $600 (or whatever your amount is) less taxes in 2008 than you otherwise would, and moreover, they are going to send you the check earlier. 2008-02-09T13:41:17Z tag:opencongress.org,2008-02-09:/comment/737 Anonymous Ahhh, it makes better sense when you explain it. But yep, that is the point I was trying to get across...and that fed refunds are never taxable. 2008-02-09T13:32:18Z tag:opencongress.org,2008-02-09:/comment/736 weasel No, it's there other way around. If you receive a refund from state, it may be taxable for the federal purposes next year. That happens if you itemize deductions on your federal return, and deduct the state tax. If then you receive the refund, it means you deducted too much, so, you have to add it back next year. Federal refunds are never taxable. 2008-02-09T15:15:57Z tag:opencongress.org,2008-02-09:/comment/739 Anonymous Thanks for the link to that article donny shaw. Haha, this is true. The anonymous conversations are probably pretty hard to follow :) Should have used a nickname to sign off on all my comments. If I register it's just one more thing to keep up with and I already waste enough time on message boards, etc. :) -MLA 2008-02-09T13:42:44Z tag:opencongress.org,2008-02-09:/comment/738 donnyshaw Hi Anonymouses, thanks for the useful insights here. From reading the bill, my understanding is that the rebates are coming to us as advances on a one-year tax cut (reducing the 10 percent bracket to zero), which will be figured when we file in 2008. It'll be like a federal tax refund -- not deductible and not taxable as income. http://www.opencongress.org/articles/view/418-Stimulus-Bill-Misconceptions p.s. why not register an account and post your comments under a username so the conversation is easier to follow.. 2008-02-09T13:13:17Z tag:opencongress.org,2008-02-09:/comment/735 Anonymous Yes, but this is for state refunds…you receive a 1099 – G I believe when you receive a refund from the state. The refund is included in your AGI and the state taxes paid by you are included as a Schedule A item (itemized deduction). The refund/credit we are receiving in the summer is from the federal government…not from the state. 2008-02-09T12:19:07Z tag:opencongress.org,2008-02-09:/comment/734 Anonymous That varies State to State. Some states require you to count a refund and income because it's money you earned but were not taxed on. This money deducts from your taxable liability, you will pay taxes on what you "get back" but the liability you owed was reduced. 2008-02-09T09:33:06Z tag:opencongress.org,2008-02-09:/comment/726 Anonymous Yeah, I was thinking about this more and if this is truly a CREDIT to us then it will not be taxable (like the phone excise tax credit last year...or any other credit you qualify for). But what you are saying is we will receive $600 in the summer and also pay $600 less taxes in 2008 (essentially receive a $600 credit on 2008 return)? Now that doesn't really make sense b/c then I essentially got $1,200 in credits. 2008-02-11T20:07:46Z tag:opencongress.org,2008-02-11:/comment/756 Laz The market should be allowed to correct itself. 2008-03-18T15:20:58Z tag:opencongress.org,2008-03-18:/comment/3400 donnyshaw When to Expect Your Stimulus Check: http://www.opencongress.org/articles/view/450-When-to-Expect-Your-Stimulus-Check 2008-03-09T11:14:36Z tag:opencongress.org,2008-03-09:/comment/2612 heavensmagiclao It is very disappointing to Heaven's Miraculous Angelic Giving Inspirational Child, Inc., that our government spends 42 million dollars on letters about a tax refund, billions in Iraq, and yet the G.I.V.E. Act struggles for acceptance. Heaven's Miraculous Angelic Giving Inspirational Child, Inc. would thrive in a country that embraces the G.I.V.E. Act. Service-Learning has immeasurable value!! Check out "The U.T.O.P.I.A. Project" and discover the power of Service-Learning for yourself. Pay close attention to the U.T.O.P.I.A. System and please listen to the beginning message. http://www.heavensmagic.org If they don't pass the G.I.V.E. Act, "We the People" will have to GIVE more of our tax money for prisons, GIVE more of our tax money for drug and alcohol abuse, GIVE more of our tax money for teenage pregnancy, and GIVE more of our tax money for welfare. The G.I.V.E. Act and a proactive approach seems so much more logical, supportive, and responsible. A vote for Service-Learning and support for Service-Learning will enrich this country, its youth, and its educators. It will also keep more money in your wallet in the long run. When you realize how valuable Service-Learning is, please call your representatives and persuade them to pass the G.I.V.E. Act. God Bless all who support the G.I.V.E. Act! Sincerely, Laura Ann Osterman Founder and President Heaven's Miraculous Angelic Giving Inspirational Child, Inc. http://www.heavensmagic.org 2008-02-09T09:35:21Z tag:opencongress.org,2008-02-09:/comment/728 Anonymous OK, forgive me. I get the gist of your comment now. You are saying that the $600 is a credit to our 2008 return we are just receiving the money early. It's still early :) 2008-02-09T02:13:58Z tag:opencongress.org,2008-02-09:/comment/725 Anonymous Does this mean that people on SSI do not qualify for the rebate? 2008-02-11T02:50:03Z tag:opencongress.org,2008-02-11:/comment/752 donnyshaw Hi, Anonymous. I noticed this article posted above in OpenCongress's news coverage of the bill that answers you question about SSI. http://usgovinfo.about.com/b/2008/02/09/ssi-and-the-tax-rebate-checks.htm excerpt: "Based on the Economic Stimulus Bill as passed by Congress, persons with income from Supplemental Security Income (SSI) alone will not qualify for a tax rebate check." 2008-02-14T22:27:54Z tag:opencongress.org,2008-02-14:/comment/890 Anonymous What if you owe $900 for 2007? Do you file but not include the payment or do you pay the amount due so you can wait for the rebate? It makes sense to send in the income tax figured on the forms and having them send you the $200 to $300 balance. What makes sense however may not be the way the bureaucracy works. Now since the rebates will be taxed as income, would the shortage be classified as a loss?