February 12 2008

The latest, what we do know is;

Single= up to $600.00
Married= up to $1200.00
Head of Household or Married filing separately will be considered as single= up to $600.00
Those with children will also receive= $300.00 for each child. (must be under 17) My son turned 17 the end of December, darn it!
For those who had little income, or nothing. Congress said you must have at least $3,000 in income from a job, self-employment, Social Security and, or certain veterans benefits would get a flat rebate of, $300 if single or $600 if married filing jointly, even if they don't owe income tax.
The original plan, that would have included the very wealthy. Has been changed. Sorry Mr. Gates, not this time.

Here are a some of the most popular questions regarding the tax rebate.

When will we get our tax rebate check?
Starting April 28th, (check schedule above).

If I owe back taxes, will I still get a rebate check?
No, it will be applied to your tax debt. Also, if you owe past-due child support, or delinquent student loans, it will most likely be withheld.

Will the rebate be taxable income that we need to claim as income for 2008 on our tax returns?
No, the rebate is not taxable. Nor will it be considered as income for 2008.

Will the checks be in the actual amounts quoted, or will there be taxes deducted?
Yes they will be the amounts quoted. No taxes will be deducted.

If your question hasn't been answered. Let me send you to the big guys, for more help. And, I mean "big!" None other than the IRS

As I promised, here are the latest updates.

I have done an article to give you more details regarding the newest scam tactics. Keeping you informed is very important to me.





You need to know,
What To Look For

This was taken from irs.gov Article

Information on Advance Payments

The Administration and Congress have announced an economic growth package that would provide advance payments to many Americans. However, no legislation has yet been enacted, so final details are not available.

Taxpayers should be aware that there are identity theft scams involving the proposed advance payment checks, known informally as rebates to many Americans. The IRS knows of at least one telephone scam making the rounds which uses the proposed rebates as bait.

Please do not give out personal information to anyone over the phone. Or in an email. If it pertains to the rebate, it's a SCAM! If you receive an email, or one of these calls, here are the suggestions from the IRS.

What to Do

Anyone wishing to access the IRS Web site should initiate contact by typing the IRS.gov address into their Internet address window, rather than clicking on a link in an e-mail or opening an attachment.

Those who have received a questionable e-mail claiming to come from the IRS may forward it to a mailbox the IRS has established to receive such e-mails, phishing@irs.gov, using instructions contained in an article titled "How to Protect Yourself from Suspicious E-Mails or Phishing Schemes." Following the instructions will help the IRS track the suspicious e-mail to its origins and shut down the scam. Find the article by visiting IRS.gov and entering the words "suspicious e-mails" into the search box in the upper right corner of the front page.

Those who have received a questionable telephone call that claims to come from the IRS may also use the phishing@irs.gov mailbox to notify the IRS of the scam.

Here is an example of a scam. Someone telephones you. Telling you they need your bank information so they can send your rebate check via direct deposit. One word, "Scam!"

I must be naive, but some things never cease to amaze me. It makes me sick what people will do.

Notices

Most taxpayers will receive two notices from the IRS. The first general notice from the IRS will explain the stimulus payment program. The second notice will confirm the recipients' eligibility, the payment amount and the approximate time table for the payment. Taxpayers will need to save this notice to assist them when they prepare their 2008 tax return next year.

Anyone who moves after they have filed their 2007 tax return should notify the IRS by filing Form 8822, Change of Address, and also notify the Post Office.

Even if you do not normally file. To be sure you will get your rebate, here is what the IRS tells you to do.

Q. What do I need to do to get an economic stimulus payment?

A. All you need to do is file a federal income tax return for 2007. Even if you are not otherwise required to file a tax return, you must file a 2007 return in order to receive a payment this year. Although some filers, such as high-income filers, will not qualify for a stimulus payment, most will.

In most cases, you will fill out your return, reporting all your income, deductions and credits as you normally would. But even if you are not required to file, you must file a 2007 return to get a stimulus payment this year. Low-income workers, Social Security beneficiaries, certain railroad retirees and those who receive certain benefits from the Department of Veterans Affairs who normally don't file may receive a stimulus payment if they do. The IRS will provide special filing instructions for those who do not otherwise have a filing requirement. The instructions will explain which lines on the tax return the filers need to complete.

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I just had to share this with you. My friend Lil, sent this to me in an e-mail. Even though we have discussed a very serious topic here, there are still things that you need to give you a good laugh.



words 'The' and 'IRS' together
it spells THEIRS?

Throughout this site, you have seen notes of what others will do with their rebate. Well, I thought it would be fun to do a "rebate wish list."

To be honest, I have mixed feelings. Pay bills, or have fun? They want us to spend it right? So that leaves me with one choice?

The next question is, on what? Below you will see my "rebate wish list." It includes things for the kids, and my grandson. And yes me! I work 50 to 60 hours a week at a local factory. Standing everyday. So dad-gummit, I have a few things that I want too!

Super Mario Galaxy

Guitar Hero III: Legends of Rock Bundle

Hamilton Beach 12-Speed Wave-Action Blender

Sunbeam Stand Mixer

Bare Escentuals Get Started Kit

Sharp Aquos LC32D43U 32" HDTV LCD TV

25.3Cu. Ft. Whirlpool Side-by-Side Refrigerator

Yamaha RX-397 100 Watt Natural Sound AM/FM Stereo Receiver

Furniture Set - Sofa, Loveseat, Chair, and Ottoman

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