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we don't have to pay it back!! - Page 3  

post #41 of 55
2/12/08 at 12:00pm
omg i finally get it. thanks jessica.
post #42 of 55
2/12/08 at 12:24pm
Your welcome hon.
I was hoping I could help it be understood!

Hugs
Jessica
post #43 of 55
2/12/08 at 3:41pm
i'm still confused about the whole thing too.

it states "working couples" will recieve $1200. well, i'm a SAHM, so how does that work?
We filed Jan 16th, and had our refund Jan 25th. So does this mean we will recieve ours earlier?

also, we have a DD born jan 1st 08, will she be included? she obviously wasnt on our 07 refund.

so, DH, me the SAHM, and 5 kids, one born in 08. what would we get?

thanks!
post #44 of 55
2/12/08 at 3:48pm
you would get 2400 from it.
from my understanding you will get the other 300 at 2008 tax time
no one will get their checks until after april 15th

hugs
nak
jessica
post #45 of 55
2/12/08 at 4:36pm
Quote:
Originally Posted by happyhippiemama View Post
I'm hoping so.

Regardless, my refund next year will be minus the rebate, right?
No. This will have no effect whatsoever on your refund next year (except to give you more money back than you would have gotten - they're just giving it to you in advance).
post #46 of 55
2/12/08 at 4:38pm
Quote:
Originally Posted by organicmommy View Post
Basically the way it seems is that its a made up credit. Its not something that we will get every year, its something that you will get this one time and that is it.
Exactly. It's a new, one-time credit.
post #47 of 55
2/12/08 at 7:22pm
Quote:
Originally Posted by Porcelain Interior View Post
I'm not buying stuff with it because I'm peeved with the whole thing, don't get me wrong I'm super excited about using it to pay debts, but our country just doesn't have the money to be doing this.

Here's where I'm coming from:

http://www.simpleliving.net/rebate/D...y_It_Flyer.pdf
thanks for this.

if we end up getting any back after the other deductions, i'm either stocking my pantry with organic goods or stocking my medicine cabinet with :
post #48 of 55
2/14/08 at 11:52am
Many people also don't realize you will have to pay income tax on the rebate, although, some states are trying to eliminate the state income tax on it.
post #49 of 55
2/14/08 at 11:55am
Question...

What if you owe???

We are on a repayment agreement from the last 2 years. Will we get it or wil it go to our balance???

I want it to come to us so we can send it in for this years, since we already have the agreement on the last 2 years.
post #50 of 55
2/14/08 at 12:03pm
Quote:
Originally Posted by bauchtanz View Post
Many people also don't realize you will have to pay income tax on the rebate, although, some states are trying to eliminate the state income tax on it.
: No, we will not be paying Federal income tax on the rebate. Here's an article linked in another thread:

http://online.wsj.com/article/SB1202...s_us_nonsub_pj

Quote:
Q: Will Uncle Sam tax these payments?

A: No, say representatives of the U.S. Treasury Department and congressional tax-writing committees.
post #51 of 55
2/14/08 at 7:14pm
Are there any dates being tossed around for payouts? I am *still* waiting on my tax refund, and it has been like 3 weeks.. for February, that is LATE.
post #52 of 55
2/14/08 at 9:45pm
Quote:
Originally Posted by alaskanteach View Post
Are there any dates being tossed around for payouts? I am *still* waiting on my tax refund, and it has been like 3 weeks.. for February, that is LATE.
They won't start going out until May, since the total you get is based upon your 2007 return.
post #53 of 55
2/15/08 at 7:21am
Quote:
Originally Posted by cravenab00 View Post
i'm still confused about the whole thing too.

it states "working couples" will recieve $1200. well, i'm a SAHM, so how does that work?
We filed Jan 16th, and had our refund Jan 25th. So does this mean we will recieve ours earlier?

also, we have a DD born jan 1st 08, will she be included? she obviously wasnt on our 07 refund.

so, DH, me the SAHM, and 5 kids, one born in 08. what would we get?

thanks!

I'm wondering the same thing about SAHM's getting money. Does anyone know the answer?
post #54 of 55
2/15/08 at 7:29am
To figure out how much you should get:

http://www.kiplinger.com/tools/rebate/index.php
post #55 of 55
2/15/08 at 11:17am
Quote:
Originally Posted by grniys View Post
I'm wondering the same thing about SAHM's getting money. Does anyone know the answer?
It looks like it goes off of your total household income....which means SAHM's should get something if they file as "married filing jointly". I don't know that for a fact, but it'd be nice if that's the case!
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