Stimulus check....omg U have to give it back

[flyin2jz]

Oh my gosh, i was messing with my taxes online the tonight and on the form it asked me if i got a stimulus check and if so i had to put it in as earned income. Well what it did if i put the amount in it fucking deducted it from my return. I swear if that happens im gonna break shit. Im gonna go ahead and tell my tax guy to call the cops because hes going to need help if the government takes the money back after they made me take the check. thats bullshit and its going to get ugly tomorrow night. Hopefully if someone has done their taxes they will chime in. There is no way thats going to happen to me. I will claim i didnt get the check and go to court and jail before they take more of my money. Kevin

[2007ShelbyCobra]

good luck

[85_SS_302_Coupe]

Yeah, well Komifornia is literally giving out IOU's instead of rebates.



seriously.

[mustangjon]

its the same that they ask if you got a refund or paid in the previous year... because it all factors in... just another way for uncle obama to bend you over :)

[flyin2jz]

well then thats not a stimulus check thats a fucking loan. I dont want loans from the government. Im telling u its going to be bad tomorrow if i go and the amount is dirctly taken from my return, the cops are gonna be called. What if you were someone who got 2300 stimulus check and you only were supposed to get 1900 bux back. YOu then owe the gov 400bux. people are going to explode. Kevin

[cobraman302]

It should be calculated as earned income, or ordinary income only. So you should be responsible for paying taxes on the stimulus check you got in 08'. So 15% tax bracket on 600 your tax return would roughly be reduced by about $90. Nothing is free.

[Rick93coupe]

I'm doing my taxes now, and its not affecting my return Kev. I appreciate your enthusiasm though! :D

[chadomac]

same here i did mine and didnt effect it in any way shape or fourm

[flyin2jz]

whewww i almost had a freaking heart attack. I was going to have to take one for the team on that. thanx guys

[PaulFiveOh]

Did you figure out your mistake? (Why it deducted that amount?)

[DeckerEnt]

I am using turbotax this year for the first time. My refund is right about the same as last year. Except I am not paying some cpa 300 bucks to do them. I seem to remember that coming up while doing mine. It said that it didn't reduce my refund, only that it was factored in automatically and it just corrected. Hope this helps.
Keith

[denial]

Look, i did my taxes also and it asked me about my stimulous last year. I got $600 last year right? So, after doing all that on turbo tax, it gave me an additional $300 on my tax return. I don't know why, but it made a difference in my return in a good way.

[RIXXX93GT]

I want to know why I can no longer claim my 17 year old daughter under the child tax credit? I thought they were children until they turned 18!

[Rick93coupe]

I want to know why I can no longer claim my 17 year old daughter under the child tax credit? I thought they were children until they turned 18!

I was looking at that too, got a flag about my daughter being a dependent and the child tax credit? I dunno.:confused:

[flyin2jz]

I believe you can take a child tax credit as long as she doesnt make over 4800 bux or something like that. U can claim them even over 18 if they live with you or you support them fully. Dont quote me on that but thats what ive heard. I just know i want my money so i can put my car back together. its killing me with it tore down. My wife is the one who was messing with it. After they asked the amount of the stimulus check they directly deducted it from our actual return. IM gonna start selling dope. you dont have to worry about all this stuff. one run to brooklyn in a couple vans and lookouts and its on. wnt need to wrk for another 1yr. :angel:

[05yellowgt]

If you normally owe taxes to the feds the stimulus from last year isn't taken into account. I made about $10k more in 08 than 07 and I get about $300 more back this year from the feds.

[mustangboy]

I swear every year we try to compensate for the large return we get so we aren't loaning the gov't money. Well this year with claiming our loss from mutual funds and my loss from the business we are still getting over $5k back. Not a bad thing its just I hate loaning the gov't so much money.

[mustangjon]

best thing i can say is keep adding a dependant every year or two during year... until it gets close.. problem is if your work fucks up your taxes... i use to do that... never got more than 300 back... then my previous job... would for some reason take less out of my commisson bonus's than normal pay... and i kept arguing with them that it should be taxed HIGHER... and then i had to pay 1500 that year... so now i claim 0 no matter what through year.

[MsBlkramair]

I am using turbotax this year for the first time. My refund is right about the same as last year. Except I am not paying some cpa 300 bucks to do them. I seem to remember that coming up while doing mine. It said that it didn't reduce my refund, only that it was factored in automatically and it just corrected. Hope this helps.
Keith

I have used the same cpa for almost 5 years now. Its always $115, with the electronic filing

[JET50213]

In case anyone is shopping for a CPA, we have used Clark's tax service in Franklin for the past two years. $88.00 and we have our refund directly deposited within two weeks.

[red93svt]

hey mustangboy..did you recently buy that coupe from a guy in missourri..i think its my old car??

[glassman]

hey mustangboy..did you recently buy that coupe from a guy in missourri..i think its my old car??

Nope that car has been his for a long time....:bigthumb

[mustangboy]

Like Jason said I've had this car for two years now and I had it a couple years before that. I bought it back after it bounced around to a couple different owners. You have any pics of your old car, if its anything like mine its got to be a REALLY nice car.:D

[Blonde_5.0]

well the stimulus check murdered our tax return... so I need to know how to make it work in my benefit... I do the hr block online thing and it killed it...

[NUTTSGT]

I want to know why I can no longer claim my 17 year old daughter under the child tax credit? I thought they were children until they turned 18!



That's correct, you lose them at 17. Just another way for Uncle Sam to screw you.

[02mingryGT]

You can still claim them as an dependent but not for the credit.

[praterjack]

Okay i have noticed that people have asked why we had to put why our stimulus check in our taxes. Well when i went to do my taxes and they asked me what my stimulus check was and it was only three hundred dollars. So i laughed and asked let me guess i have to give it or some of it back. My tax guy told me that many people didnt get what they were supposed to from the stimulus check so now the government is asking what you got in your stimulus check to see if they gave you what you were supposed to get. Though who knows thats just what he told me and it didnt affect my return in any way so ill just go with that reasoning.

[capri5.0]

The stimulis check is not taxable. Here is the page from irs website on stimulis check and recovery rebate credit

http://www.irs.gov/newsroom/article/0,,id=203191,00.html?portlet=6

This should clear questions up.

[SlowRS]

Yeah, we got 1341 for the stimulus, then got more when we filed our taxes cause we didnt get it all the first time.

[06hoss]

The stimulis check is not taxable. Here is the page from irs website on stimulis check and recovery rebate credit

http://www.irs.gov/newsroom/article/0,,id=203191,00.html?portlet=6

This should clear questions up.

Bingo! They want the stimulus figure for the worksheet to figure out if you are eligible for any of the recovery rebate credit this year. Basically if your stimulus check last year was limited because your income was too high, and your income drops way down this year (get laid off, etc.), then you may be able to get the rest of the stimulus check that you couldn't get last year. If you use software to figure your taxes, it's just asking for the stimulus amount so it can figure it out for you. It can only get you more money, but not less. It won't affect most people either way.

Here's a blurb from the IRS:

Stimulus Payments Not Taxable; Reports of Extensive Refund Delays False

The IRS has received a number of recurring questions involving stimulus payments and the recovery rebate credit. Here are some important tips to keep in mind:

Taxability. The economic stimulus payment is not taxable and it should not be reported as income on the 2008 Form 1040, 1040A or 1040EZ.

Refund delays. IRS personnel are aware of reports that errors in claiming the recovery rebate credit could delay tax refunds for as much as eight to 12 weeks. These reports are false. As the IRS detects and corrects return errors concerning the recovery rebate credit, refund delays are currently no longer than about one week.