Jun
16
IRS Withholds $842 Million in Stimulus Payments
June 16, 2008 | 15 Comments
If you're missing your stimulus check, you're not alone. The IRS is withholding $842 Million from stimulus payments. How do you know if you're stimulus payment will be withheld?
According to this CNN/Money article, stimulus payments have been withheld from 1.5 million people. Over 50% of the money has gone for back child support .
About 54% of the cash intercepted will be funneled to states for …
Comment by Chris: …
Jun
13
The economic stimulus payment program has been a fiasco. Hundreds of readers have shared their horror stories. You'd think the government could figure out how to get checks to people. Put the check in the mail, what's so hard about that? When government gets involved, simple things get complicated fast. If the government can't mail a check right, why would we let the government take over health …
Jun
4
Stimulus Payment Notification - What Does It Say?
June 4, 2008 | 16 Comments
Some people have asked what the stimulus notification letter would say. I finally received mine so I can share it with you.
I already showed you what the envelope looks like so you don't throw it away. I scanned in the stimulus notification for my records. It states in bold print that you should save this notification for your records. I keep all my important documents in digital format. I just scan them in using my …
May
29
Where Is My Stimulus Payment?
May 29, 2008 | 107 Comments
Waiting for your Economic Stimulus Payment ? You're not alone. Thousands of comments on this site and others indicate many people are waiting for their stimulus payment. So where are the checks?
Double Check Your Facts
You may be confused by the stimulus payment schedule. Who can blame you, it is confusing. However, you need to make sure you have your facts straight before contacting the IRS.
I've …
Comment by Kelly: … (it's for the stimulus payment status), log in with …
May
22
It's Not Too Late to Qualify for the Stimulus Payment
May 22, 2008 | 5 Comments
Many Americans can still qualify for the economic stimulus payment. This is good news for those don't normally file a tax return or may have made a mistake on their taxes.
According to a press release from the IRS, IRS Commissioner Doug Shulman wants people to know they still have time to qualify for the stimulus payment. They just need to file a tax return.
Can I Still File After April 15th?
Yes. The IRS wants …
May
21
15,000 Stimulus Checks Sent to Wrong People by IRS
May 21, 2008 | 110 Comments
Just when you thought the stimulus payment mess couldn't get any worse, the IRS rises to the challenge and and really screws up. The IRS has apparently sent at least 15,000 checks to the wrong people.
I've been overwhelmed by the number of questions regarding the economic stimulus package and the payments from the IRS. Readers have posted thousands of comments (3,300 at last count) regarding questions, …
Comment by Chris: …
May
14
Stimulus Payment: Do My Children Qualify?
May 14, 2008 | 12 Comments
If you have children, they may earn you an additional $300 each this year. That's because the economic stimulus package allows for an additional payment for each qualifying child in your household.
How will I know if my children qualify?
The IRS has some basic requirements. First the child has to have a valid SSN ( Social Security Number ). Second the child must have been younger than 17 at the end of 2007.
From the IRS Stimulus Site :
Additional Amounts for …
May
13
TurboTax VP Answering Your Stimulus Payment Questions
May 13, 2008 | 22 Comments
… TurboTax. TurboTax has taken a lot of heat from people upset over the confusion surrounding the stimulus payment and TurboTax.
What's the Issue?
Apparently TurboTax allows you to pay your filing fee using your anticipated tax refund. To facilitate this, TurboTax uses a third party bank, Like Santa Barbara Bank And Trust (SBBT) to handle the processing. Essentially, SBBT gets the payment from the IRS and puts your money in your account, minus the fees. That's the basics anyway, …
May
12
The economic stimulus package payments are on their way to millions of Americans. The IRS has gone out of it's way to ensure everyone knows about it. Those with low incomes can file their taxes online for free just to qualify for the stimulus payment. But what if you make too much and how much is "too much" really?
How Much is Too Much?
The threshold is either $75,000 (single) or …
May
9
More frequently asked questions regarding the Economic Stimulus Payment ( Rebate ): What if my spouse owes money ? What will happen to our stimulus payment ? Will the IRS keep it all even though part of that money is for me and my children?
The IRS Will Keep Your Money
The IRS can keep your stimulus money (and tax refund) if you owe money to the government. The IRS will shoot first and ask questions later. So if your spouse …
Comment by Mary Anne: … IRS put the entire stimulus check toward my back taxes. I …