If I recall correctly, the check that was sent back in 2001 which amount to $300 per person ended up as being deducted from my tax refund when I filed tax in 2002. So say I have two kids and I claimed $1000 child credit per kid for $2000 total, I had to subtract the $600 and ended up with $1400 when I did my tax. Technically it's more of an advance. Is this how this "tax rebate" going to work for this upcoming round as well when I do my tax next year?
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Question about the tax rebate
- Thread starter TXHokie
- Start date
AMCRambler
Diamond Member
It'll probably be like that tax rebate on Futurama. $300 clams in the form of Tricky Dick Fun Bucks. AROOOOOO!!!!!
Queasy
Moderator<br>Console Gaming
They're still negotiating it but now it sounds like it is going to be $300 up to $1200 and it doesn't matter if you actually paid income taxes in 2006 or not.
Basically, it's a bunch of populist BS that really won't do anything for the economy. Cut out the middle-man and just let people keep more of their own money, cut corporate taxes to keep business in the USA and to spur growth, and cut out all the BS spending in Congress.
edit: Here's the deal
Basically, it's a bunch of populist BS that really won't do anything for the economy. Cut out the middle-man and just let people keep more of their own money, cut corporate taxes to keep business in the USA and to spur growth, and cut out all the BS spending in Congress.
edit: Here's the deal
So if my taxes due are around $0 (matched up my deductions well) and I accepted the "rebate" I'd actually have to pay in next year?
Lame.
I can't remember much about the '01 rebate. And it was only $300. They were rumbling about $1600 for a couple so that's a little more sizeable and concerning.
Fingolfin269
Lifer
Awesome. So, since I pay taxes and pull my own weight I may actually get the same amount of 'refund' back as someone who hasn't paid a dime. OH, and then I will potentially pay part of it back the next year when I have to count it as income against myself. SIGN ME UP!
To the poster above me, it really has nothing to do with your tax refund being $0. That just means you paid the proper amount to the government throughout the year. However, you DID indeed pay them money... they're just giving some of that money back to you.
To the poster above me, it really has nothing to do with your tax refund being $0. That just means you paid the proper amount to the government throughout the year. However, you DID indeed pay them money... they're just giving some of that money back to you.
BlahBlahYouToo
Lifer
Tax rebate approved
$75k cap - is that what you report as income for 2007, or salary at the end of 2007?
my salary in early/mid 2007 was well less than $75k, but by late-2007 made substantially more due to a job change, but still not enough to report more than $75k for the all of 2007.
$75k cap - is that what you report as income for 2007, or salary at the end of 2007?
my salary in early/mid 2007 was well less than $75k, but by late-2007 made substantially more due to a job change, but still not enough to report more than $75k for the all of 2007.
Seeing how the timing is for june, it may be based on the numbers in your 2007 tax return.
If you do not file, you may not see anything.
A rebate is not an advance.
If you do not file, you may not see anything.
A rebate is not an advance.
FoBoT
No Lifer
yes, many of the politicians in power today are socialists and most of the candidates running for POTUS this year are also socialists
bread and circuses
http://en.wikipedia.org/wiki/Bread_and_circuses
bread and circuses
http://en.wikipedia.org/wiki/Bread_and_circuses
dainthomas
Lifer
It is f'ed, but at least my wife and I made under 150 total. Whew.
