quote:The stimulus money that was sent out last year will come out of your refund from this years filings.
Not true.
If you owed IRS money when the 2008 stimulus check was written, that amount was deducted from the stimulus check amount.
Your 2007 return was used to determine the amount of the stimulus check. If certain details of your 2008 return are substantially different, and you did not receive the FULL possible amount (based on your classification - # of children, single, married, etc.) for the stimulus check mailed in 2008, you may be able to claim and receive some or all of the amount you were not paid in 2008. See this link for details:
http://tinyurl.com/7gw647
and:
http://tinyurl.com/akmbbe
And last, the stimulus check is NOT counted as income for 2008 tax purposes, nor is it going to be used to offset any refund you may have coming for tax year 2008.
This is taken from the link that follows:
Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?
A. No, the stimulus payment will not reduce your refund or increase the amount you owe when you file your 2008 return.
http://tinyurl.com/6m4bmr
If you don't believe this, you can Google it like I did.
If you find information that counters what I just wrote, please post and/or link.
Larry
P.S. - Jeff, since you are already expecting your 2008 tax return to be missing last year's stimulus amount, when you do get your 2008 refund, will you just send the unexpected amount you are getting to me? Oh all right, that IS kind of greedy on my part. How about a 50/50 split? You should still be happy...
