I got the same thing. According to the chart, I should of got it yesterday.Originally Posted by OSUredsFAN
I got the same thing. According to the chart, I should of got it yesterday.
I got it as well. I'm not too worried though since I did get the mailer saying I was indeed receiving one.
Benzinger backing and calling! And the 1990 world championship series belongs to the Cincinnati Reds!
When I clicked on the site Raisor posted and entered my info it told me this:
"You should receive a notice showing the amount of your payment. Please hold on to it because you will need it when you prepare your 2008 tax return."
Are they counting this as earned income that I'll have to claim next year?
My dad got to enjoy 3 Reds World Championships by the time he was my age. So far, I've only gotten to enjoy one. Step it up Redlegs!
yes
Can I just give it back then? I did nothing to earn this, except live in a weak economy. I don't really need this money, and I don't want to have to pay extra taxes on it next year. So basically, I'm getting my tax return for next year early, and won't get anything in 2009. That's nice.
My dad got to enjoy 3 Reds World Championships by the time he was my age. So far, I've only gotten to enjoy one. Step it up Redlegs!
My understanding is that the stimulus is NOT taxable income.
http://www.factcheck.org/askfactchec...t_taxable.html
....here's a random link that says so.
And here's the IRS FAQ
http://www.irs.gov/newsroom/article/...182003,00.html
It is a CREDIT based on your 2008 return. NOT an anticipated refund. What that means is that if you didn't qualify in 2007, you may still qualify for the credit NEXT Year.
Last edited by oneupper; 05-10-2008 at 12:27 PM.
"A person is smart. People are dumb, panicky, dangerous animals and you know it."
http://dalmady.blogspot.com
Directly from oneupper's IRS link:
And even if was taxable, we'd still come out ahead; someone in the 25% bracket would owe $150 more in taxes next year from the $600 check he got, but that's still $450 to the good. But luckily, it's not taxable.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.
Reading comprehension is not just an ability, it's a choice
Okay, I feel like an idiot because I don't understand that really at all, but if IslandRed says it's all good then I won't worry.
My dad got to enjoy 3 Reds World Championships by the time he was my age. So far, I've only gotten to enjoy one. Step it up Redlegs!
Well, of that passage I quoted, the first six words were all anyone really needed to read.
Reading comprehension is not just an ability, it's a choice
Got mine the other day
Still have not gotten mine.
* Attended the 1990 and 2010 Reds Division clinchers *
Go 76ers, Go Steelers and Go Bucks
Got mine the other day.... received $600 but was anticipating $1200? idk... didn't really understand it much.
About a week of diesel fuel with mine. It was gone by the time I got to Vegas.
already spent mine I guess, but I haven't got it yet. I have so much money going out since I bought this house that I am going crazy. Everyone told me what a great investment buying a home is, but I am questioning that right now. I had a lot more fun before I had a mortgage payment.
"My mission is to be the ray of hope, the guy who stands out there on that beautiful field and owns up to his mistakes and lets people know it's never completely hopeless, no matter how bad it seems at the time. I have a platform and a message, and now I go to bed at night, sober and happy, praying I can be a good messenger." -Josh Hamilton
Got mine over the weekend... I'm waiting till after I go to the doctor tomorrow to spend mine. Been having neck and shoulder pains for the past 2 weeks. Ugh! :thumbdown
2024 Reds record attending: 1-02024 Dragons record attending: 0-02024 Y'Alls record attending: 0-0
"We want to be the band to dance to when the bomb drops." - Simon Le Bon of Duran Duran
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