Economic Stimulus Plan

[Menehune Man]

"At a cost of nearly $42 million, the IRS wants you to know: Your check is almost in the mail.

The Internal Revenue Service is spending the money on letters to alert taxpayers to expect rebate checks as part of the economic stimulus plan.

The notices are going out this month to an estimated 130 million households who filed returns for the 2006 tax year, at a cost $41.8 million, IRS spokesman John Lipold confirmed."

Just send me the money and explain at the same time!!! Sheesh.

Read the story and don't spend it all in one place. HaHa!
Here's a link...
http://www.cnn.com/2008/US/03/08/tax...iref=hpmostpop

[salmoned]

Re: Economic Stimulus Plan

Got mine today! It sorta implies I may qualify (but mebbe not).

[craigwatanabe]

Re: Economic Stimulus Plan

Is that check mailed out separately from the tax refund check? We do our taxes over the internet through a company called Complete Tax. We've been using them for several years already with great results.

But is this Economic Stimulus Plan check a separate check or is it automatically added to your refund/deducted from any taxes due?

[helen]

Re: Economic Stimulus Plan

I understand it to be mailed as a seperate check, but it will mailed in May.

[Leo Lakio]

Re: Economic Stimulus Plan

Is that check mailed out separately from the tax refund check?

I understand it to be mailed as a seperate check

Correct, it's a separate check. They will go to taxpayers who filed returns in 2006 - and the letter reminds you that you also have to file in 2007 in order to get it. Ai-ya!

[SusieMisajon]

Re: Economic Stimulus Plan

If they'd really have wanted you to stimulate the economy with that money, they shoulda sent gift cards.

[helen]

Re: Economic Stimulus Plan

And that would still cost money. Part of the issue is why spend $42 million to inform the people. Couldn't that money be used somewhere else?

Keep in mind that $42 million covered the mailing and printing cost of those flyers. When the actual checks do go out that is going to cost around the neighhorhood of $42 million for mailing and printing.

[Menehune Man]

Re: Economic Stimulus Plan

Exactly Helen. Why waste the money for the extra mailings?
Maybe "Public Service Announcements" instead?

I have a wondering...
Since I filed electronically and had the tax returns automatically deposited (already received), will it truly be a check or deposited like my returns?

[craigwatanabe]

Re: Economic Stimulus Plan

I have a wondering...
Since I filed electronically and had the tax returns automatically deposited (already received), will it truly be a check or deposited like my returns?

I have that same "...a wondering..." too.

[Frankie's Market]

Re: Economic Stimulus Plan

Correct, it's a separate check. They will go to taxpayers who filed returns in 2006 - and the letter reminds you that you also have to file in 2007 in order to get it.

I don't think that is quite correct, if I understand that IRS flier correctly. It does say that some individuals/couples filing jointly who do not have to file tax returns normally may qualify for the tax stimulus payment. But in order for them to actually get the payment, they would have to file a 2007 return this year. So for those folks, they would not have had to file a 2006 return, if they in fact were not required to do so.

[AlohaKine]

Re: Economic Stimulus Plan

I always support more money in my pocket. Right on George Bush for passing this.

One little note, how about skip the letter and add its' cost to my check. Say, $600.50 vs $600. Every little bit is goooood. I could buy a soda or two extra smokes with that for 45 cents and still have five pennies left to throw at the heads of the over-taxers in the state legislature.

[Menehune Man]

Re: Economic Stimulus Plan

I have that same "...a wondering..." too.

I know Craig! It's exciting and intriging...
Here's the definitions of (a)wondering. HaHa!
They seem to all fit for me concerning the concept of this 'plan',
except as a surname of course.

Quick definitions (wonder)
# noun: something that causes feelings of wonder
# noun: the feeling aroused by something strange and surprising
# noun: a state in which you want to learn more about something
# verb: have a wish or desire to know something
# verb: place in doubt or express doubtful speculation
# verb: be amazed at
# name: A surname (very rare: popularity rank in the U.S.: #48618)

[craigwatanabe]

Re: Economic Stimulus Plan

Gives it that Irish tone to it...makes me want to watch Finnian's Rainbow again!

[Karen]

Re: Economic Stimulus Plan

Readin "a wonderin" here kinda makes me wanna be back home in Texas.

[helen]

Re: Economic Stimulus Plan

Just to let you know that there is a catch to this Economic Stimulus Plan. You need to file a 1040A for 2007 to get a rebate. If you filed a 1040NR, 1040NR-EZ, 1040-PR or 1040-SS you are out of luck.