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 hterm1">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 hterm1">and my children?
The IRS Will Keep Your Money
The IRS can keep your stimulus money (hterm1">and tax refund) if you owe money to the government. The IRS will shoot first hterm1">and ask questions later. So if your spouse …
Comment by Mary Anne: Luckily, I had a much better experience than some …
May
8
Is the Economic Stimulus Payment Taxable Income?
May 8, 2008 | 5 Comments
Is the economic stimulus payment (rebate) considered taxable income ? A few readers have asked that question so I figured I'd address it.
Economic Stimulus Payment is NOT Taxable Income
The simple answer is that the economic stimulus payment (rebate) is not considered taxable income by the IRS. So you won't have to count the stimulus payment in your income for your 2008 taxes. However, …
Comment by Chris: George, The information as quoted is still on …
May
7
Didn't get your full economic stimulus payment this year? Good news, you have a second chance to get your stimulus money in 2009.
Didn't Get the Full Stimulus Payment?
Many people didn't get the full stimulus payment. There are several reasons for this. A large number of people had to file amended tax returns. Several people reported problems with other people claiming their dependents.
Others either made …
Comment by Chris: … passes another bill.
May
6
How I Spent My Stimulus Payment
May 6, 2008 | 6 Comments
With all the serious questions about the I RS Stimulus Package, I was getting a little burned out. I thought I'd take a break from the serious stuff hterm1">and instead look at the other side. What are people spending their stimulus payment on?
I came across this website where people are posting about how they spend their stimulus payment. How I Spent My Stimulus is fascinating. The sheer variety …
Comment by anne Randall: trish - right? when hterm1">and if it gets …
May
6
It seems a lot of people still have questions about how the amount of the stimulus payment is determined. The IRS provides a calculator on it's web site. So it's easy to find out how much should should get, but it's not so easy to see why you are getting that amount.
The IRS Stimulus Payment Calculator
You can find the IRS stimulus payment calculator here. Remember, this calculator only provides an estimate …
Comment by Chris: James McMahon, If you filed taxes hterm1">and you …
May
5
I've received several questions about the possibility of a second economic stimulus package. Many people want to know if it's true or just a rumor. Here's what we know right now.
The "First" Economic Stimulus Package
The Economic Stimulus Package was passed by Congress in early 2008. Among other things, it mhterm1">andates direct cash payments to US citizens who've met a certain level of income hterm1">and have paid taxes for the 2007 tax …
Comment by Amazed: … all do what we have to do to get by. If a …
May
3
IRS Economic Stimulus Payment Article Index
May 3, 2008 | 9 Comments
There is a lot of confusion hterm1">and no shortage of questions about the IRS economic stimulus payment. I'm try to keep up with the questions but it's become a full time job. This article is an index of the important links related to the stimulus payment.
Too Many Questions
At first I tried to answer every question. However, due to the sheer number of stimulus payment questions, this became a …
May
2
IRS Where’s My Stimulus Payment Web Page Broken?
May 2, 2008 | 527 Comments
The IRS recently launched it's Where's My Stimulus Payment page. I was thankful because I'm wearing out my keyboard answering questions from readers. However, several readers have commented that it appears to be broken.
Does Where's My Stimulus Payment Work?
I've received several questions from readers, asking if the stimulus payment tracker actually works. Remember, you can't track …
Comment by Chris: Charles L Stoddard, You can always try …
May
1
IRS Where's My Stimulus Payment Web Page
May 1, 2008 | 216 Comments
The IRS has created a new web page to help you track the status of your stimulus payment. This should help answer a lot of those "where's my stimulus payment" questions.
The web page is located on the IRS web site. Here is the link to the Where's My Stimulus Payment? page.
You will need 3 pieces of information to track your stimulus payment. You need your social security number, …
Comment by Chris: Tina, Please see this article: …