Thread: Stimulus checks not what they are cracked up to be!!!

Originally Posted by MsLynn

ok, the irs web site says mine will be 1158.00 HOW WEIRD IS THAT????, anyone else get such a strange amount?????

They may be taxing some people's checks, I think I read Alabama residents checks might get taxed - remember this is a LOAN - we will be repaying it..

Originally Posted by VenusA423

Is it because this will have to be claimed on NEXT year's taxes, when he'll be 18?

But if he's 17 this year, when we'll file the taxes we're getting the loan for..that makes no sense...

Originally Posted by cabby92

The payment is based on your tax liability. If your tax was $558.00 and you have two kids they would add $600.00 making your payment $1158.00. It can go from 0 to 1200 per married couple and 300 per child.

thanks,, just everyone else was getting even amounts, lol. was weird,, I'm not complaining in the least, lol just thought it was an odd amount.

Q. Is my stimulus payment taxable?

A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.

Q. If my stimulus payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?
A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [New 4/11/08]

Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?
A. No, the stimulus payment will not reduce your refund or increase the amount you owe when you file your 2008 return.

I checked mine and the IRS website finally says something different but still no real information.

We are sorry. Specific information about your Stimulus payment is not available.
Possible reasons include:

* Your payment may still be coming, but has not yet been scheduled. Information will be available here as payments are issued based on the last two digits of the primary SSN shown on your 2007 tax return. Specific information about your Stimulus Payment will not be available until about one week before your payment is scheduled to be issued. See the complete Payment Schedule below for more information

I should be getting mine towards the end of May and it should be $1200 but we'll see

mine didn't show up till today, and mine is supposed to be there this friday, so i'm betting ya'll will be getting yours on the 16th and it'll show up on their website on monday