What are you going to do with your "tax rebate"

[sauerkraut]

The Federal gov't cuts taxes and the states raise them. My rebate is going to pay bills. I think the only thing that would help the economy would be lower fuel prices. People are spending huge amounts of money for gasoline instead of using it to buy things. That's money out of the economy... They say fuel will hit $4.00 a gallon this summer, Diesel is already near that point. The little rebate check won't do diddley, I think if instead of the rebate money they would do better to use federal money to help pay the cost of gasoline or issue gasoline coupons to U.S. Citizens that should have much more of a effect. This $3.00 a gallon gasoline has cut my spending on other things. I'd hate to think what $4.00 a gallon will do to my budget.

[grahambino]

600 junior bacon cheeseburgers.
no tomatoes, please.

[sauerkraut]

That's an idea, invest the tax refund in burgers. Maybe buy a few Whataburgers, or for me in the midwest a few sacks of White castle burgers since we have no Whataburgers here where I live...[B)]

[waterboy]

First half of real estate taxes. Anything left over will pay other bills.

[inteller]

quote:Originally posted by RecycleMichael

I plan to invest in some lottery tickets. It is the least I can do to help the schools. I was thinking of also buying some of the local brewed beer

you just reminded me.  I need to have a case of Arrogant Bastard Ale shipped to my halfway house in Arkansas.

[AngieB]

Does anyone know if you owe taxes will the rebate be applied to that amount? I haven't done my taxes yet, is there anything about it on the forms? Thanks.

[safetyguy]

I don't believe that they will be applying the rebates automatically. The checks aren't going to start getting issued until May and will end sometime in July.

[unknown]

[mrhaskellok]

I plan on using it to fly to DC and tell my government they are fired!  []

Naw, I will use it to pay down any debt I have.


For the one who is confused about their credit score despite you are doing all the "right" things...you forgot, the FED does not want you to save.  If you save, then there is less of a need for the Federal Government to need to borrow the money.  

Sorry, just don't pay attention to it.  People need to start calling it what it is, predatory lending practices.  You are better off telling the lender that they can take a hike if they are going to use such an unethical approach.  The fun part is telling it to them like "How could you suggest that!"  Their face is priceless.  

I hope everyone alive who gets this check pays off debt.  Then, if they have no debt, buy commodity, not stocks or paper.

Fuel is not high because there is a shortage of it. It is going up because it is still tied to the dollar so much.  Notice the value of the dollar keeps dropping as the price of oil goes up.  In other words, in Japan or Europe, the cost of the same barrel doesn't "hurt" as bad because they are able to buy more barrels with their "dollar"  Since the creation of the Euro the dollar has dropped almost 50% in value.  Hence we feel a 50% increase on the global "cost" of the same barrel.  This is why when you travel to Europe, a soda is $3.  

[EricP]

^#@$!# we won't receive ours until September. Slow donkey government. So much for upgrading my computer any time soon.

[pundit]

Plan on spending mine quick.

[Wilbur]

quote:Originally posted by unknown

There is another schedule for people who use direct deposit, which shows 'checks' going by direct deposit much earlier, like the beginning of May.

[sgrizzle]

Last 2 digits of my SSN is "03"

Rock On.


Stimulus Payment Schedule for Tax Returns
Received and Processed by April 15

Direct Deposit Payments

If the last two digits of your Social Security number are:
   

Your economic stimulus payment deposit should be sent to your bank account by:

00 – 20 May 2

21 – 75 May 9

76 – 99 May 16

[sgrizzle]

quote:Originally posted by TulsaMINI

Does anyone know if you owe taxes will the rebate be applied to that amount? I haven't done my taxes yet, is there anything about it on the forms? Thanks.

Saw this on the rebate calculator on IRS.gov

quote:
The estimated payment amount could be reduced, however, if you have an unpaid tax liability.

So it sounds like the answer is yes.

[AngieB]

I checked the FAQ on IRS.gov and it says you CANNOT apply the stimulus rebate to 2007 taxes owed.

quote: Q. I owe some money on my 2007 tax return but the amount I owe is less than my expected stimulus payment. Can I wait to pay the balance due and simply let my stimulus payment cover it?

A. You should file your 2007 return and pay the entire balance due by April 15. You should not wait for your economic stimulus payment to offset the balance due. If you wait, penalties and interest will accrue between April 15 and the date the balance is paid, even if it is ultimately covered by the stimulus payment, which will not be available before May. [New 2/28/2008]

Oh well.

Next question: If my last two digits of my SSN are higher than my husband's last two digits, when does the payment occur?

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