Stimulus Package
*chortle snort*
Tax season is done and over with. Thank goodness. Though I have to admit it wasn’t that crazy this year, as each tax year end passes, we get fewer and fewer clients, which I’m not complaining about in the least, though the ones that hang around are demanding.
But thats not what I’m here to talk about. I’m here to talk about my anxiously awaiting ‘Economic Stimulus Rebate Check’. Due to a slight over look when finalizing my taxes, my checking account information was not submitted to the IRS because I owed Uncle Sam money this year, so this in turn will result in me getting a paper rebate check. And since its a paper check I shouldn’t expect mine any sooner than mid-June.
There are a few points of this stimulus package that I’d like to bring up. My boss kept fretting last night about getting his taxes done before the deadline because he was under the assumption that if you file an extension, you wouldn’t get the rebate check. This is not true. So, the points:
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* You will get a rebate check if you file an extension.
* Rebate checks are only sent to those who have at least $3,000 of taxable income.
* The amount you will receive is dependent on whether you have children, and how much you actually made (the amounts are as low as $300 and go as high as $1,200).
* Rebate checks will be automatically deposited into the checking account that you submitted when filing your taxes. If you submitted no checking account information you will receive a paper check.
* Electronic checks go out in May, paper checks in June. The schedule is in even greater detail here.
* I am paraphrasing all this, read over the IRS website for full and detailed information.
Personally I don’t know how I feel about the whole thing. Giving everyone (nearly everyone) just a little extra pocket change (because really that’s it is) isn’t going to fix our economy. I know that really isn’t the goal, its just a ’stimulus’, but still, someones going to have to pay for it in the end. I’ll probably end up using mine to pay off credit cards. Credit cards that I had to get because I was ALREADY in a bind due to the crumbling economy.
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