Featured Posts
grammaniecie
Warning about proposed $800 Tax Rebate
January 20, 2008 at 7:52 PM

Just want to give a heads up to those of you who receive the proposed $800 tax "Rebate".   If it's the same as the 2001 tax rebate then it will not be extra money, it will be deducted from your tax return.  The last rebate was just a cash advance on your tax returns.

This wasn't told to the public and caused financial problems for those expecting a certain amount back for their refund to pay bills.  That was the only year my son had to pay the IRS (he always get a refund).

I'm hoping they don't do the same thing but, since they are calling it a tax rebate again, I'm guessing it's the same thing.  If you get it, please keep that in mind.

Replies

  • Dawn4175
    January 20, 2008 at 7:54 PM
    I was afraid that's what was gonna happen with that.  They like to make themselves look like they're doing us a favor, but in reality they're just loaning us our own money.
  • mom2tocutekids
    January 20, 2008 at 7:58 PM
    I haven't heard about this, and don't really understand, can you explain that again for me? We already got our taxes back ..... so that won't effect us right?
  • grammaniecie
    January 20, 2008 at 8:08 PM
    How the heck did you get your taxes back already! I haven't even got my W-2 yet lol.

    Yeah, if you already got them back then I'm guessing it will be deducted from next years.  You might luck out though.  Also, since the rebate is $800 versus the $300 one last time, only taxpayers making $40,000 or more will be eligible.  If you make under 40 then it wouldn't affect you anyway.

    Like I said, hopefully it's not the same as the last "Rebate" but I'm thinking if they were dirty enough to pull that once then they will do it again.
  • mom2tocutekids
    January 20, 2008 at 8:12 PM

    Quoting grammaniecie:

    How the heck did you get your taxes back already! I haven't even got my W-2 yet lol.

    Yeah, if you already got them back then I'm guessing it will be deducted from next years.  You might luck out though.  Also, since the rebate is $800 versus the $300 one last time, only taxpayers making $40,000 or more will be eligible.  If you make under 40 then it wouldn't affect you anyway.

    Like I said, hopefully it's not the same as the last "Rebate" but I'm thinking if they were dirty enough to pull that once then they will do it again.
    lol I know. Hubby got them quick. I think it was last weekend sometime. Good thing tho, because then the day he recieved them he lost his job. So it was a life saver! We differently don't make that much a yr. Thanks for the info!
  • kristina_lynn
    January 20, 2008 at 8:15 PM
    The final proposal for this tax rebate is not out yet :-) as of right now we do not know the entire deal or what it is about.
  • kristina_lynn
    January 20, 2008 at 8:18 PM

    Quoting Dawn4175:

    I was afraid that's what was gonna happen with that.  They like to make themselves look like they're doing us a favor, but in reality they're just loaning us our own money.

    Although I am waiting to hear the final proposal, I am kind of leaning towards this line of thinking. This is not the sweet deal we are being led to believe.
  • grammaniecie
    January 20, 2008 at 8:34 PM
    My husband is saying that this one will be deducted from your 2009 tax returns.  I guess that makes sense since the rebates are actually being received in 2008 so can't be deducted from 2007 earnings.  So it will help THIS year but will stink next year.
  • grammaniecie
    January 20, 2008 at 8:37 PM

    Quoting mom2tocutekids:


    Quoting grammaniecie:

    How the heck did you get your taxes back already! I haven't even got my W-2 yet lol.

    Yeah, if you already got them back then I'm guessing it will be deducted from next years.  You might luck out though.  Also, since the rebate is $800 versus the $300 one last time, only taxpayers making $40,000 or more will be eligible.  If you make under 40 then it wouldn't affect you anyway.

    Like I said, hopefully it's not the same as the last "Rebate" but I'm thinking if they were dirty enough to pull that once then they will do it again.
    lol I know. Hubby got them quick. I think it was last weekend sometime. Good thing tho, because then the day he recieved them he lost his job. So it was a life saver! We differently don't make that much a yr. Thanks for the info!
    I'm so sorry that your husband lost his job!  I hope he finds another one soon (and I hope you don't live in Michigan because there's NO jobs here!)
  • kristina_lynn
    January 20, 2008 at 8:44 PM

    Quoting grammaniecie:

    My husband is saying that this one will be deducted from your 2009 tax returns.  I guess that makes sense since the rebates are actually being received in 2008 so can't be deducted from 2007 earnings.  So it will help THIS year but will stink next year.

    do you mind telling me where you/husband is recieving the information? I am just wondering because I haven't read this and would like to read more about this. From everything I have read the proposal hasn't been finished or fully released yet. Thanks Tina :-)
Active Posts in All Groups
More Active Posts
Featured Posts in All Groups
More Featured Posts
close Join now to connect to
other members!
Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN