what will you do with your $$$?

[Ilovebigcats]

If you chose under Turbotax to have your cost of filing deducted from your refund Turbotax set up a temporary account at Santa barbara bank. The REFUND was deposited AT Santa barbara and then SB transfererred it to your account after they took out the filing charges.

THEREFORE technically you DID NOT get a DIRECT deposit from the IRS.

THE SB accounts were temporary and are now nonexistent. The IRS does not have your bank account Number therefore a paper check will be issued.

I had figured this out and confirmed my deduction by accessing the Turbotax site and searching for "stimulation".

Same thing with us. I chose to take my fees out of my refund with TaxAct. I will get a check in about a month.

Rachel... it is a early payout to what you will get next year. BUT if you don't get anything normally... you wont have to pay it back. Understand?

[RamboPreacher]

...
Rachel... it is a early payout to what you will get next year. BUT if you don't get anything normally... you wont have to pay it back. Understand?

blargh - how is that a "stimulus"??!?! it isn't, unless you normally have to pay or don't get anything back. My refunds are already earmarked. no spending, here.

[Ilovebigcats]

...
Rachel... it is a early payout to what you will get next year. BUT if you don't get anything normally... you wont have to pay it back. Understand?

blargh - how is that a "stimulus"??!?! it isn't, unless you normally have to pay or don't get anything back. My refunds are already earmarked. no spending, here.

I agree! AND how is it fair that others don't have to pay it back YET we are with our next year refund. Pshh..

[DaJudge]

...
Rachel... it is a early payout to what you will get next year. BUT if you don't get anything normally... you wont have to pay it back. Understand?

blargh - how is that a "stimulus"??!?! it isn't, unless you normally have to pay or don't get anything back. My refunds are already earmarked. no spending, here.

I agree! AND how is it fair that others don't have to pay it back YET we are with our next year refund. Pshh..

Cats, the way I understand it is that there is a one year tax reduction for 2008, and the "rebate" is an advance on that - your refund next year will actually be about the same as it would have been if there had been no rebate and no tax cut

[RamboPreacher]

...
Rachel... it is a early payout to what you will get next year. BUT if you don't get anything normally... you wont have to pay it back. Understand?

blargh - how is that a "stimulus"??!?! it isn't, unless you normally have to pay or don't get anything back. My refunds are already earmarked. no spending, here.

I agree! AND how is it fair that others don't have to pay it back YET we are with our next year refund. Pshh..

Cats, the way I understand it is that there is a one year tax reduction for 2008, and the "rebate" is an advance on that - your refund next year will actually be about the same as it would have been if there had been no rebate and no tax cut

we'll see. until then, I can't spend it until I have the documentation of how it works.

[Ilovebigcats]

What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.

It doesn't mention 09. Me the thinks me iz right.

[DaJudge]

What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.

It doesn't mention 09. Me the thinks me iz right.

Cats, your refund for this years taxes is what is referred to as "the 2008 refund". So, what you have printed here verifies what I said in my earlier post.

[Ilovebigcats]

What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.

It doesn't mention 09. Me the thinks me iz right.

Cats, your refund for this years taxes is what is referred to as "the 2008 refund". So, what you have printed here verifies what I said in my earlier post.

I already have received my 2008 refund. Back in Feb. Or you think that would be my 07 refund? I sure hope you are right...

[DaJudge]

What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.

It doesn't mention 09. Me the thinks me iz right.

Cats, your refund for this years taxes is what is referred to as "the 2008 refund". So, what you have printed here verifies what I said in my earlier post.

I already have received my 2008 refund. Back in Feb. Or you think that would be my 07 refund? I sure hope you are right...

Cats, the refund you received earlier this year was for your 2007 tax return.

[Jamais Vu]

What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.

It doesn't mention 09. Me the thinks me iz right.

Cats, your refund for this years taxes is what is referred to as "the 2008 refund". So, what you have printed here verifies what I said in my earlier post.

I already have received my 2008 refund. Back in Feb. Or you think that would be my 07 refund? I sure hope you are right...

Cats, the refund you received earlier this year was for your 2007 tax return.

Dajudge is right.......you cant file for your 2008 refund yet, because you dont know how much your income for 2008 is until the year is over.

[HarmlessDove]

Recieved ours last week (the 1st).
Nothing special planned for it.
Just staying ahead.

[RamboPreacher]

What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.

It doesn't mention 09. Me the thinks me iz right.

Cats, your refund for this years taxes is what is referred to as "the 2008 refund". So, what you have printed here verifies what I said in my earlier post.

I already have received my 2008 refund. Back in Feb. Or you think that would be my 07 refund? I sure hope you are right...

Cats, the refund you received earlier this year was for your 2007 tax return.

Dajudge is right.......you cant file for your 2008 refund yet, because you dont know how much your income for 2008 is until the year is over.

but we will have to claim this stimulus as income for 2008.

[Ilovebigcats]

but we will have to claim this stimulus as income for 2008.

What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.

[RamboPreacher]

but we will have to claim this stimulus as income for 2008.

What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.

well, that part is kewl.

[DaJudge]

but we will have to claim this stimulus as income for 2008.

Did you miss this bit Rambo?

What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.