Uncle Sam Sets us FREEE!

[rwuarch2007]

OK... so the tax rebate lol

It's amazing how easily threads get off topic!

Back on track....I heard that couples within a certain earning bracket receive $1200!!! Yes, that's $600 x 2, but if you play dumb you can tell your wife the $1200 is wholly your rebate because you're the bread winner! HA!

[LongBeachCoupe]

You are correct... couples dont typically get penalized on taxes... gotta make sure you are in the "power band" of income though...

[quick_shift]

I think I made enough this year to get the $600. I just graduated last May and started an Internship that turned into a full job in October and I think I've made about $20,000 between then and now, plus some from the job I had during school.

Is 20-25K enough for the $600, or am I in the $300 bracket?

[LongBeachCoupe]

it has to be in 2007 remember... but i believe if you earned more than 3k.. you get 600... under 3k you get 300... and if you earn over.... i think it may be somewhere over 85k you wont get the full bump... im not sure if its 85 or 115k... i think its 85k

[quick_shift]

that is what I thought, thanks, and I meant between May - Dec. Torgot it was already Feb time really flies when your working and everyday is the same almost, lol.

[BlackNWhite]

i think you will only get 300.. you need to clear 18k to get 600 i believe

it has to be in 2007 remember... but i believe if you earned more than 3k.. you get 600... under 3k you get 300... and if you earn over....

So......... which one is it? Do you need to clear 18K or 3K to get the 600? I thought if you didn't clear 3K you don't get anything at all.

I haven't been able to find clear cut info. I want the 600 obviously, but don't know if I'm getting it or not. Not just trying to give you a hard time.

[MikeisSUPERBAD]

ahhh

ive already filed my taxes like 2 weeks ago (efile)

i am usually the kind of person that gets them done as soon as i have all the information w-2, 1099's etc that im waiting for... just so i can file and have my refund asap.

how do i get this rebate now? can i still get it even though ive filed my taxes and have received my refund?

any ideas?

[MikeisSUPERBAD]

ahh i answered my own question...

i called the irs at 1-800-829-1040 and they said since legislation has not passed yet.. there is no further info available at this time.

i guess ill have to wait! an extra $600 would be nice.

[rwuarch2007]

i called the irs at 1-800-829-1040 and they said since legislation has not passed yet.. there is no further info available at this time.

Any hot women working at the IRS lately?

[LongBeachCoupe]

Its pretty much a done deal.... i believe it will pan out that if you earned over 3k, you get 300... over 18k and you should get 600.... unless you clear over 85k.... thats my bet.... and there were never any hot women in the IRS to begin with! Find them in the PRIVATE sector

[ADKSaad1387]

I don't apply to this tax break

[quick_shift]

The House approved it yesterday, so now the President just has to sign it.

[rwuarch2007]

It was on the new this morning!! Once you file your 2007 taxes they will check to see if you qualify. If you're single and made under 75K, you get $600 in the mail, mailed out May of June. It's official children!!

[brizanden]

^ yeahhhhh school money money money lol

[cuzzbubba420]

[generic808]

That money goes right back into an investment for me. I wish I could spend it on some goodies like an exhaust, a new gun, or maybe a few flashlights. Oh well...

[adidas2go]

That money goes right back into an investment for me. I wish I could spend it on some goodies like an exhaust, a new gun, or maybe a few flashlights. Oh well...

this is how the country gains 146 billion more in deficits

Just go spend it like its intended for and help the economy grow

[generic808]

Hey, I figure free money going to principal is better than money going to fun. Wait...it's not free money, it was my money in the first place.

I have my goodie funds so this lump sum will go to my future

[brizanden]

^ yeah me too cept for school god i hate this ****

[BlackNWhite]

this is how the country gains 146 billion more in deficits

Just go spend it like its intended for and help the economy grow

Man... when it was free money... I was all set to spend it.

"To produce this cash, Congress created a one-time tax credit to reduce taxable income for most taxpayers this year.

Normally, you wouldn’t see that cash until the spring of 2009, when you filed your 2008 return. But Congress wants to speed that money to you now, so checks will start going out in May.

Remember, this is your money you're getting back, and the rebate checks are basically an advance on your 2009 refund."

Got the info from here:http://articles.moneycentral.m....aspx

If it's just an advance on my return next year... straight to savings it goes. This is usually the amount of my refund so no exhaust for me.

[notaverage]

Man... when it was free money... I was all set to spend it.

"To produce this cash, Congress created a one-time tax credit to reduce taxable income for most taxpayers this year.

Normally, you wouldn’t see that cash until the spring of 2009, when you filed your 2008 return. But Congress wants to speed that money to you now, so checks will start going out in May.

Remember, this is your money you're getting back, and the rebate checks are basically an advance on your 2009 refund."

Got the info from here:http://articles.moneycentral.m....aspx

If it's just an advance on my return next year... straight to savings it goes. This is usually the amount of my refund so no exhaust for me.

They sure did a good job hiding where the money was coming from, this is the first I am hearing of it being an advance...

[generic808]

Yup, like I said, it' MY money that I'm getting back. The gov't always has a way of stiffing us! Everyone was getting so excited, but when you think about it, it's just money that we're already due.

[LinkNuc]

Decided to delete that political rant, but yeah no rebate here either.

Modified by LinkNuc at 7:32 AM 2/11/2008
Modified by LinkNuc at 7:33 AM 2/11/2008

[shift_mikey]

LOL oh well, i think the Civic SI chat was more interesting then the chat about us getting our own money back LOL

After 401K, health care, and taxes, i take home appx 55% of my gross income :-( F*in uncle sam!!!

So you guys think an SI will take down the 3.5 A/C?

[notaverage]

I dont

[LongBeachCoupe]

im glad to see you have a 401k in there... and if it gets matched, you better be contributing the maximum!

Heres an update...http://consumerist.com/354606/...vance

[quick_shift]

Yeah, I'm only 22 and Graduated college last May, as soon as I became full where I was interning I setup a 401K right off the bat.

[AltimaJoe]

My company only matches 6%. But you can bet I've got the matching portion set at 6%! On topic, did you see the stuff about how this "rebate" thing may do more for China's economy than our own? Chinese Brilliance Auomotive, here we come!!!

[R1Wolf]

So, most of what I'm hearing here is that most of you are not sure you made enough to get the refund... WTF, am I the only person on here that's been working long enough to make decent money? You guys are making me feel old!

As it turns out, as a single person I made too much money, so I don't get a damn thing back. And I'm so good and trying to stimulate the economy!

[ADKSaad1387]

No, i made about 18-20 thousand and im only 17. the only reason i dont apply is b.c i live in one of the wealthiest county of the nation and in the wealthiest city in the county. so my parents dont apply; therefore, i dont apply b.c i still live under their roof as a minor.