Bush Stimulus Package

LOL!!! Kinda of a last __yours from old George, right??

One way to look at it is, the recipient of an IRS RAL :) can pay a small chunk of debt off earlier and save a small amount of interest.

I have a theory (I admit: I have no evidence to really support it) that the banks are in more trouble than anyone wants to admit, and this is an indirect method of propping up one or more national institutions. A recession is a good thing, a depression is a bad thing.

so this "economic stimulus package" is nothing but a glorified payday loan...albeit without the exorbitant interest rates and fees the PDL companies use? Because at some point, you HAVE to pay it back...even if it's deducted from next year's tax refund??

Am I understanding this correctly??

THAT'S THE WAY I TOOK IT TO MEAN.SO WARRIOR IS CORRECT WATCH YOUR W-2'S.

I don't mean to doubt what I am reading in the above threads but I have not heard or read that this is going to be treated as income or be deducted from next years tax return.As I recall the last rebate
in 2001was not treated as a deduction on the next my
return for 2001.If you have any written documentation
please post it.I am sure this would cause an uproar
through out the nation if this is true.If it is true
I will stick mine in a savings account and that would
be counter productive for this stimulous package.
It's intended purpose is to get people to spend rather than save.Or pay off unsecured debt if possible.

I have not heard that either except for right here! It does not matter for me because it will be taken against what I already owe the IRS.

steve, it's not much different than the 2001 refunds...there will be no uproar.

hey...been all over the news, about the 'tax rebate' thing. Are these rebates going out to everyone, or..just to 'low income, 'disabled', etc? This I DON'T understand. How can the Government just send all this money to all of these people? Might be a stupid question, but,....I fugure the 'only stupid question is the one not asked..right?

The word I see is that the amounts and eligibility are to be decided by 2007 'tax liability'. What, exactly, is a person's 'tax liability'?

What you owe the feds after tax credits are accounted for, but before payments (such as withholding from a paycheck).