Stimulus payments starting early.

[punch]

http://money.cnn.com/2008/04/24/pf/taxes/Stimulus_checks/index.htm?section=money_topstories

NEW YORK (CNNMoney.com) -- The federal government, eager to boost the flagging economy, will start distributing special stimulus payments Monday - four days earlier than expected.

"Beginning Monday, the effects of the stimulus will begin to reach households," President Bush said Friday. "This money is going to help Americans offset the high prices we're seeing at the gas pump and at the grocery store."

The department announced the early arrival of the payments Thursday after saying last month that it would begin sending out the money on May 2.

As of next week, 800,000 tax filers daily will begin to have their checks directly deposited Monday, Tuesday and Wednesday. No checks will be distributed Thursday, and 5 million payments will be made Friday.

I still think this whole thing is a sham. Instead of giving me a $600 advance on next years taxes, how about government just keep the money and LOWER TAXES.

Oh wait, that can't happen because we have a money-pit of a war to fund.

Anyone else get frustrated with this BS?

[TRDon]

http://money.cnn.com/2008/04/24/pf/t...ney_topstories



I still think this whole thing is a sham. Instead of giving me a $600 advance on next years taxes, how about government just keep the money and LOWER TAXES.

Oh wait, that can't happen because we have a money-pit of a war to fund.

Anyone else get frustrated with this BS?

You didnt read the last one of these did you. it was a big debate and the outcome was it isnt an advance like previously thought, it is more of a grant to the consumers.

[punch]

You didnt read the last one of these did you. it was a big debate and the outcome was it isnt an advance like previously thought, it is more of a grant to the consumers.

I didn't catch that, but from what I've read the money were getting is essentially borrowed from next years taxes.

[Max Power]

I didn't catch that, but from what I've read the money were getting is essentially borrowed from next years taxes.

Nope.

[Stormwalker]

What I found hilarious this tax season is people that had some pretty decent returns were SO concerned about "when they were getting their stimulus payment". They wanted to know when it would come, what day or week or whatever. "When do I get that $600?????". Never mind the $3400 fed return, they didn't care about when that would arrive. It was kind of like "WTF". And this wasn't just a couple of people or something, this was the case with a LOT of people. I just found it somewhat strange.

[Southern]

I already got mine.

[Stormwalker]

I didn't catch that, but from what I've read the money were getting is essentially borrowed from next years taxes.

This is not taxable income; and it will not reduce the refund you are getting next year or increase the amount you owe.

[OrangeCrush 86]

Don't be fooled, this is just a get-out-of-the-MN-gas-tax-free card for this year.

[Spiral]

What I found hilarious this tax season is people that had some pretty decent returns were SO concerned about "when they were getting their stimulus payment". They wanted to know when it would come, what day or week or whatever. "When do I get that $600?????". Never mind the $3400 fed return, they didn't care about when that would arrive. It was kind of like "WTF". And this wasn't just a couple of people or something, this was the case with a LOT of people. I just found it somewhat strange.

I got a good return, but that return wasn't a "Free" $600. My return was money I overpaid to the IRS and the State. Would you be excited if you overpaid your phone bill and you got money back? No, because it was money that was yours to begin with.

[Stormwalker]

I got a good return, but that return wasn't a "Free" $600. My return was money I overpaid to the IRS and the State. Would you be excited if you overpaid your phone bill and you got money back? No, because it was money that was yours to begin with.

If you see what I was talking about, it was the timing. Both a return and the stimulus payment are "done deals", the taxpayer is going to get both. When the taxpayer asks about when they are getting their refund/stimulus payment, they are far more concerned about when the lower dollar amount of the two will appear in their account/arrive in their mailbox.



Example: "So when do I get all this money back?"

"Your $600 stimulus payment should come in the beginning of May, and your $5800 fed return should come sometime in November of 2012."

"Whew! As long as that stimulus payment comes in May, that's great news. Awesome, thanks."

[Spiral]

If you see what I was talking about, it was the timing. Both a return and the stimulus payment are "done deals", the taxpayer is going to get both. When the taxpayer asks about when they are getting their refund/stimulus payment, they are far more concerned about when the lower dollar amount of the two will appear in their account/arrive in their mailbox.

Yes, in comparison it seems weird... Actually, seems greedy of people in my opinion. I am excited about $600 of none taxable income, but I disagree with every step of it going into my pocket. But hell, why not ride the economy into the ground!

[I Tried]

You Lucky fockers that get one!!!

I think everybody that paid taxes should get one!!!!!!!!!

Tim

[SFC]

This is not taxable income; and it will not reduce the refund you are getting next year or increase the amount you owe.

Note entirely true. Bush/congress/whoever *giving away* money that the government doesn't have to give will have to be repaid sooner or later. I'm guessing that *FREE* $600 will be repaid at about $1200 after interest and a further decline in the value of the dollar.

But ya, other than that, totally free.

[Drunko McMoppo]

You Lucky fockers that get one!!!

I think everybody that paid taxes should get one!!!!!!!!!

Tim

They could have easily just cut spending by whatever this is costing. The stimulus is essentially a generic band aid that doesn't stick.

[punch]

You Lucky fockers that get one!!!

I think everybody that paid taxes should get one!!!!!!!!!

Tim

Oh please, not gonna cry for you when you make to much to get one back.