No. They send you a form later stating it won't be taxed as income.

mine showed up today just in time to head to the licker store to restock my bar, fill up my gas tank and take the kids to chuckie cheese...shiat its gone now what???

If you're single and had an Adjusted Gross Income of more than $75,000 or married with more than $150,000... you won't get screwed completely... you'll get a calculated percentage less than the maximum amounts of $600 for single, $1,200 married. I think you get the $300 per child claimed as a dependant on your 1040 no matter what though?

You can go to www.irs.gov to get your questions answered.



I'm pretty sure NO.

Looks like it's time for a party at summerrun's house!!!

One Way,
The rebate income caps are at a 5% phase out until phased out complete.
Single = $600 cap $75,000
Married = $1,200 cap $150,000
Dependent Children $300 each

To figure out your reduced rebate:
1. Figure out the rebate amount based on filing.
2. Minus the cap amount from your adjusted gross income.
3. Multiply the difference by .05
4. Minus from rebate amount ( #1 - #3)

For example if you are single with 1 kid and you made $85,000
1. $600 + $300 = $900
2. $85,000 - $75,000 = $10,000
3. $10,000 x .05 = $500
4. $900 - $500 = $400 Rebate




They are sending them out according to last 2 digits of soc. sec #. in numerical order. First those who filed electronically will get them deposited to bank accounts then they start over with last 2 #s for those who filed paper forms, who will be mailed checks. The amount is based on 2007 taxes but if you make less in 08 you will get more rebate if you were capped out, and if you make more they won't make you pay it back. This is my understanding of how it works.

BTW Stam is smart -Don't mess with the IRS.

Say, i thought those tax cuts in 2001 and 2003 where supposed to be the cure all for the economy. When is that going to trickle down? So now we need "stimulus" that is borrowed money that will get vacuumed up by the oil company's. What a scam !!!

The "Lusty lady" downtown Seattle's billboard read.... " Come in and stimulate you're package" In case you didn't know their billboard is famous for stuff like this, I think if they use your saying you can get a free t-shirt.

One of my favorites is around Saint Patricks day, they use this one.

"Porn beef and grabbage"

Sol Duc,
Those signs crack me up.

My favorite was when the APEC conference was here. The sign read "Welcome APECers"


Here is how a few folks spent their money. Page four has some good ideas.
http://www.howispentmystimulus.com/

It's hard to say what the economy would have been like without those tax cuts. Maybe better, but probably far worse.

Define: 'Maybe'

Define: "better"

Define: "probably"

Define: "far worse"


I can barely imagine a scenario that the economy could have become any worse in this timespan.

"Maybe"-probably
"better"-improvement on a situation
"probably"-to be expected
"far worse"-worse than worst

Check the Dow Jones averages for that time span. Or the history of the Dow Jones averages. Rises are reflected by periods of lowered taxes.

The statement I made was purely speculative. There isn't any way that I know of to prove or disprove the validity of that statement. I don't think though that increasing the tax rate by letting the cuts expire in 2010 will do anything to help the economy.

The S&P 500 is a far more accurate index of market trends than the Dow. The people in charge of the Dow also like to change the companies listed to achieve more "optimistic" results:

"On November 1, 1999, Chevron, Goodyear Tire and Rubber Company, Sears Roebuck, and Union Carbide were removed from the DJIA and replaced by Intel, Microsoft, Home Depot, and SBC Communications. Intel and Microsoft became the first two companies traded on the NASDAQ exchange to be listed in the DJIA. On April 8, 2004, another change occurred as International Paper, AT&T, and Eastman Kodak were replaced with Pfizer, Verizon, and AIG. On December 1, 2005, AT&T returned to the DJIA as a result of the SBC Communications and AT&T merger. Altria Group and Honeywell were replaced by Chevron and Bank of America on February 19, 2008."

By my calculations, I need to send the government a check for $600... just kidding. Im too tired to do the math, I think I will hang out by the mailbox and wait

i am trying to figure out how to spend my $10.30 check. why even send it ?

Did everyone get their rebate? I still have not got mine. I planned on doing some landscaping, priced the plants, found the best place....checked the schedule....I should have my rebate by now but........no rebate Did I do the formula wrong? 5% phase out...formula seems right...maybe wrong....Did everyone else get theirs?

I got a letter from IRS on May 17 saying I should receive my check by or about May 16. I checked my account online and sure enough, it was deposited May 16.

Got my money, and BBQ. The way I see it, the 2 day's I'm taking off from work, and the gass money to see Iron Maiden tomorrow should just about take care of the $1,800 bucks.

Mf

I bought a rifle w/ my check.

Diesel, weed, & lubricant.

Sol found a new supplier, eh?