HoosierDaddy

(..sorry, checks ) which are due to be sent in May/June - will they be considered income on next year's tax returns?

MsElui

and a quick hijack - anyone know of a link that lists who is eligible?

Longy

Doesn't it have to be approved by the Senate first? Fairly certain you don't pay tax on rebates though.

Regarding who is eligible it could all change depending on what happens with its approval, but the statement at the moment is an individual with AGI of less then $75,000 will get up to $600 and a married couple with less then $150,000 will get up to $1,200. Earning more will mean it drops.

Here is a link with some examples: http://seattletimes.nwsource.com/htm...36_econ25.html

Rete

Refund checks are not considered income. Those monies have already been used to calculate your tax base in the previous year. At least in federal. Mileage might vary in states.

MsElui

what im wondering is would we get one? We will be filing a tax return for last year although we only arrived late in the year. Im not expecting to be eligible to be honest but a small unexpected windfall would be rather nice!

Longy

Until its passed its impossible to say, there are very few details about it available

HoosierDaddy

It was approved by the House and the Senate yesterday. Now GW sees if he can do joined-up hand writing....

Bob

indeed...though i'd be surprised if your able to get it if your either not a USC or LPR.

Duncan Roberts

You should be, but be careful. It's an early 2008 refund but to give it early they are basing it off your 2007 refund. If you aren't eligible next year you'll have to give it back.

Bob

aye, cheeky buggers really....would do well to just stick it in a high interest savings account and earn some interest on it, that'll piss the government off...much better than getting a new tele like they're hoping for

chicagojlo

I would have thought it was for anyone who paid the required amount of tax last year? There was a minimum as far as I remember.

Mallory

you'll be buying diapers with yours

Rete

Learned something new today ... so that is what Brits call long hand and/or cursive and/or script writing.



But his "X" is legal as well

chicagojlo

Did some quick digging around and it seems to be that anyone who paid over $3,000 in taxes last year will be getting it.
The big uproar seems to be that nonresident aliens will be getting them, which to most people means illegals, but it seems to me that a nonresident alien by IRS standards is simply someone who was here less than 183 days last year and doesn't have a green card. Which doesn't make you an illegal. Not having authorisation to be here does, but that doesn't have to be a green card. But facts aren't what sell newspapers are they?

cosmicgirl

We arrived in late september 2007 but have paid over $3000 in taxes does that mean we will get it? Any word what month the checks are coming?