Extra Tax Rebates Coming Your Way??

[Rich Parsons]

I've heard several different figures; the last time I heard, it was $300 for people earning less that $3000 (so, people who would get everything back anyway), $600 per person (so, $1200 per married couple) up to $75,000, and $300 per child per eligible married couple. But every time I look it's something different - and don't forget, this is all speculation at the moment; until it actually passes in the House and the Senate, nothing is fixed. This article from the Chicago Tribune seems to cover some of the details in the proposal well - at least, it matches what I heard on the news last night.

Thanks for the information.

 

[Bob Hubbard]

Don't hold your breath waiting for these. Congress needs to decide how much pork to add first, since the idea of passing a single item bill is just foreign to them.

 

[Kacey]

Don't hold your breath waiting for these. Congress needs to decide how much pork to add first, since the idea of passing a single item bill is just foreign to them.

That is all too disturbingly true.

 

[theletch1]

Moderator note:
Several posts from this thread have been split to this thread regarding financial planning. Please keep in mind that the topic for this thread is the potential income tax rebate for some in the US.

 

[MA-Caver]

Well I gotten my W-2 today and through Turbo Tax figured it all out... gonna get a decent sized return.

As for the rebate... well now after casually talking with someone (just so happens to be a tax attorney --- yeah I know the IRONY!! ) they said that we would have to pay taxes on those rebates next year...

whell if that's true... I'm seriously thinking of telling the government to keep it... because hey... after I spend (paying taxes on the stuff that I buy with the rebate) I gotta pay MORE? Sheesh. It's like... here's some free money... now go work for it. Well hell, wasn't I doing that to begin with??

 

[CoryKS]

Well I gotten my W-2 today and through Turbo Tax figured it all out... gonna get a decent sized return.

As for the rebate... well now after casually talking with someone (just so happens to be a tax attorney --- yeah I know the IRONY!! ) they said that we would have to pay taxes on those rebates next year...

whell if that's true... I'm seriously thinking of telling the government to keep it... because hey... after I spend (paying taxes on the stuff that I buy with the rebate) I gotta pay MORE? Sheesh. It's like... here's some free money... now go work for it. Well hell, wasn't I doing that to begin with??

Yup. That kills me - this is money that was taken from us as taxes. Now they are going to give it back and tax it as if it was income. How 'bout paying us interest for the usage, ye thievin' scoundrels?

 

[MA-Caver]

Yup. That kills me - this is money that was taken from us as taxes. Now they are going to give it back and tax it as if it was income. How 'bout paying us interest for the usage, ye thievin' scoundrels?

Arr agreed!