[BalishBun]

Can I get opinions please? The refund checks to be sent out as part of bush's plan to give the economy a boost, according to news reports, Your Rebate May be Reduced: According to the IRS, all or part of your rebate may be applied to back taxes or certain other debts, such as delinquent child support and student loans. In such cases, the IRS will send a letter explaining the reduction. Do you think this is fair or no?

I don't think it is fair at all. Maybe people paying child support need an extra boost.

[Timgt5]

There should be a Faq sheet on IRS.GOV that will answer that questions. As I understand it is a "prebate" and not considered income.

[salukigirl]

i definately think its fair. if they get an extra $600 dollars and have back child support..... why would they go out and spend money on something expensive when theyre not even paying child support. being a child of child support, i do not think its fair to the children to NOT have it automatically applied to child support. just my opinion.

[Danialla]

My feeling on delinquent child support is as follows: (I use the terms, you and yours, only as a point of reference.)

If the government has in some way had to support your child (welfare, Medicaid, food stamps), because you choose not to, then the government is entitled to their money.

Like wise, if you are delinquent in supporting your children, that you obviously helped create, then you should have to turn that money over to the supporting parent. Why should someone not have to support their children?

Strong opinions I know and I am not even divorced. But, I did raise 4 children, and worked in the court system for some time. I know it is hard and expensive to raise children, and working in the public defender's office I and saw first hand how many different excuses/ways people used to avoid paying their child support. What a shame, I mean it is not like there are not many different forms of birth control out there. And I will add that I do not believe abortion should be used as a form of birth control.

I don't have as strong an opinion on the other debt you mentioned, although I do feel people need to be made more responsible for the debt they create.

But remember those are only MY opinions, and you asked

Take care everyone

My opinion.......

These are NOT refund checks. Watch next year, you will get less tax refund back because these refunds are a government ploy to make people think "we are beating the recession" and that the "government cares" about the financial issues affecting the people.

Where do you think they are getting this money? We don't have it?

Your taxes next year will be affected.....

[Danialla]

</font><blockquote><div id="quote"><font class="small">Quote:</font>
Riptide said:
My opinion.......

These are NOT refund checks. Watch next year, you will get less tax refund back because these refunds are a government ploy to make people think "we are beating the recession" and that the "government cares" about the financial issues affecting the people.

Where do you think they are getting this money? We don't have it?

Your taxes next year will be affected.....

</div></font></blockquote><font class="post">

I have to agree.... But it is fun right now

[(JD)]

True, they are not called refund checks; they are called economic stimulus checks. Can't be refunds as even many people who pay nothing in are receiving monies.

The government can print more money; it hasn't had money in circulation that the federal reserve has guaranteed nor backed since 1999, and it was 1971 when Pres Nixon (and Congress followed suit) that the dollar was no longer based upon a gold standard.

The USA has huge loans from China.

Wealth never disappears, it only changes hands.

[Danialla]

Sure would feel better in our hands though

[TaintedGoth1]

Well this just sucks! Although I'm not getting one (SSI excludes you from being able to apply for this refund), my dad is getting one. Honestly we could really use the money because of normal everyday bills like utilities, groceries, etc.

[jbug]

I am getting one and am excited. I don't pay taxes since I'm on disability but I sure filed that tax form this year. I got something in the mail that told me how to do it so hopefully if the gov't website is right I'll have some money in a few days.

Jbug

[BalishBun]

Well, I guess I can see the whole child support two ways, if you had back child support and were NOT paying then yes it should be yanked. But if you are (like my husband) paying $500/month for two children and has 75% of his check taken away I think he deserves a stimulus check to use as he pleases. I'm also wondering what will be done with our stimulus check, as we filed jointly and it said anyone in back child support would have their check cut down. We filed jointly tax wise and foc is already trying to take the whole thing including mine. I want to cry.

[ziggy1]

Tainted, people on SSI and SSDI, both are eligible to receive this refund. I filed one for my mom.

Although be careful if you haven't filed taxes in a few years and
owe the Gov money this could open up a can of worms, Ive been told by others including lawyers, tax people and Insurance carriers. This is what i have heard. Its like a Bait & switch..????

Just wanted to put that out for yall to know!!!

[Danialla]

It is frustrating when you are in a situation where you are not the parent but you suffer the pains of being one.

You probably should have filed individually this time, then you may have been able to keep your check, even if they took his to pay his back support.

Sorry it is working out this way for you..

[heyjoe]

Stimulus Payment Schedule for Tax Returns Processed by April 15

Economic stimulus payments will be issued according to the last two-digits of the main filer's Social Security number. People who use direct deposit also will be among the first to receive the payments starting April 28. The first cycle of paper checks will be mailed starting May 9 and continuing through May 16.

DIRECT DEPOSIT

Last two SSN digits: Payment will be transmitted by:
00 through 20 May 2
21 through 75 May 9
76 through 99 May 16



PAPER CHECK

Last two SSN digits: Payments will be mailed by:
00 through 09 May 16
10 through 18 May 23
19 through 25
May 30
26 through 38 June 6
39 through 51 June 13
52 through 63 June 20
64 through 75 June 27
76 through 87 July 4
88 through 99 July 11









People who file a return after April 15 will receive their economic stimulus payment, but probably about two weeks later than the schedule shows. A return must be filed by October 15 in order to receive a stimulus payment this year. See the online calculator for an estimate of the amount you will receive.

A small percentage of tax returns will require additional time to process and to compute a stimulus payment amount. For these returns, stimulus payments may not be issued in accordance with the schedule above, even if the tax return was processed by April 15.

Related Item: IR-2008-44, IRS Announces Economic Stimulus Payment Schedules, Provides Online Payment Calculator

[Razzleberry]

The checks are really just an advance refund on your 2008 taxes. They are implementing tax credits that will apply for next year, and these checks are going out now...instead of next April.

Yes, your refund will be reduced if you or your spouse have back child support. You can call the IRS to determine how much - I'm not sure if the entire thing will be taken, or just a portion.

You'd be surprised how many tax returns I had to file for people who haven't filed in decades, but had to file this year just to get the refund. I'm wondering if this all isn't just a scam to get updated addresses for the IRS for everyone. Who knows. I think it's all a crock and it won't help our economy one bit. People who really need it are just going to pay down credit cards. Those with extra are going to temporarily buy something....but one big purchase doesn't create more jobs. Just a temporary gain. Stupid plan, in my opinion. But then again....I could really use the $$ right now!!!

[Danialla]

I agree with your post 100%.

Because my husband has his own small business we usually don't get anything back, so I am looking forward to getting a check.

I certainly hope my husband did not file an extension .

[pachyderm]

You guys will know I am crazy when I tell you that if I get one of those checks I plan to SEND IT BACK!

I do not need money that the government has to borrow from China or Saudi Arabia or somewhere just so I can have some extra cash! And no, I am not rich.

[nothemama8]

if you all don't feel right about these checks remember non-profits can benefit, and there tax right off for next year

[Perna]

pachyderm, it's a done deal, sending it back doesn't help you or us/the Government and our debt. Figure out ways to spend yours so it doesn't go back to China (or OPEC).

I like this guy's blog, find it interesting: http://thefinancialengineer.blogspot...e-economy.html

[pachyderm]

> it's a done deal

I don't understand. If I send it back then it won't get spent, right? Then the debt will not be increased?

[salukigirl]

if theyve already taken the loan out then what does it matter whether you spend it or not? the debt is done. so you might as well spend it on something you need. theyre doing it so that next year you have to claim it as income on your taxes and end up paying the government even more next april 15.

[Perna]

It will get spent; you don't think they're going to put it in a Savings Bond to earn interest do you? They borrowed X number of dollars and they'll spend that much. They're hoping we'll individually spend the money and our "demand" for goods and services will create more money-making enterprises here at home which will help the economy or that at least everyone will "feel good" about the whole thing which will make us less anxious and more apt to spend our money, etc. However, Mr. Bush just made a speech a day or two ago acknowledging the average American is going to spend it on needs like the higher oil and food prices and that can't help much.

But your $600-$1200 versus the $1.36? billion borrowed is like swimming upstream; won't even pay 1 minute's interest on the loan? And it's not like the Government is going to notice or send you a thank-you card? There's nothing in it for anyone in sending it back? Nice, responsible "gesture" but can't get the salmon upstream because there's a dam in the way and no fish elevator? Spend it the best way you can see to help someone if you don't want it for yourself because you feel it's irresponsibly putting future generations in further debt. Help a kid in a future generation, like notthemama suggests with charity?

[Perna]

Salukigirl, not true:

</font><blockquote><div id="quote"><font class="small">Quote:</font>
Q. Is my Stimulus Payment taxable?

A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.

Q. If my Stimulus Payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?

A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [New 4/11/08]

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.

Q. I don’t qualify for a Stimulus Payment based on my 2007 return. But my tax situation will be different in 2008. Will I qualify for any special benefit?

A. Possibly. The 2008 tax instructions will include a worksheet to help those who did not qualify for a payment or those who received a reduced amount determine if they can obtain a benefit when they file their 2008 tax returns next year.

</div></font></blockquote><font class="post"> From: http://www.irs.gov/newsroom/article/...179181,00.html

[salukigirl]

whats not true? i didnt say anything about whatever you just said...

[Perna]

</font><blockquote><div id="quote"><font class="small">Quote:</font>
salukigirl said:
theyre doing it so that next year you have to claim it as income on your taxes and end up paying the government even more next april 15.

</div></font></blockquote><font class="post"> This isn't true. It's not taxable/income. We get to spend it all for ourselves