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(CNN)   The rules for these rebate checks reads a lot like stereo instructions   ( money.cnn.com) divider line
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16010 clicks; posted to Main » on 08 Feb 2008 at 9:34 PM (9 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



134 Comments     (+0 »)
 


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2008-02-08 05:51:53 PM  
You will find a packet of what looks like Chiclets within the envelope. Do not eat this.
 
2008-02-08 06:00:39 PM  
UNC_Samurai: You will find a packet of what looks like Chiclets within the envelope. Do not eat this.

Shiat.
 
2008-02-08 06:03:20 PM  
I am a bit confused as to why anyone would look forward to these checks.
If this is anything like the last time "$300 rebates" were issued, we are just
going to have to pay the amount we receive back come April of next year.

Seeing as how they are not going to even start issuing the checks until May
or June, and given the blinding speed of government efficiency: You will have
a couple of blissful months between the time you receive your check, and the time
you have to pay back that amount in full. Congratulations, you just borrowed your
own money from the Gov't for a few months.
 
2008-02-08 06:13:27 PM  
You know what else read like stereo instructions?
 
2008-02-08 06:31:24 PM  
The rules for these rebate checks reads a lot like stereo instructions

Apparently grammatical rules are just as difficult. Watch your plurals there subby.

\Don't quality for rebate
\\A tad bitter about it
 
2008-02-08 07:18:19 PM  
They forgot this question:

Who the fark is paying for this?

Your children and grandchildren.
 
2008-02-08 07:34:00 PM  
Are these rebates considered taxable income for the 2008 tax year?
 
2008-02-08 09:35:19 PM  
Did submitter write them?

/what GodIsDead said, sort of
 
2008-02-08 09:36:07 PM  
...And something about the boldface in the slashie got screwed up. That's karma for you.
 
2008-02-08 09:36:14 PM  
It would be very appropriate if the instructions were written in Chinese.
 
2008-02-08 09:36:27 PM  
Saborlas: You know what else read like stereo instructions?

imaginarycinema.com
 
2008-02-08 09:37:59 PM  
I, for one, welcome my $600 rebate overlord...
 
2008-02-08 09:38:14 PM  
AntiNorm: Are these rebates considered taxable income for the 2008 tax year?

Remember this: Even if they are, SO many people will not remember/put down the income and mark it as taxable, that the IRS won't follow up on the oopsie.

For anyone.

/Especially since their staff has been cut dramatically since the last bribe... er... rebate check, right before Sept. 11th.
 
2008-02-08 09:38:46 PM  
o0hindy0o.canalblog.com

unavailable for comment?

curious though, it makes no mention of people who claim head of household/widow/er
 
2008-02-08 09:39:28 PM  
Take my farking 'rebate' and use it to build roads and bridges.

Or hookers and blow.

Either one will help the economy more.
 
2008-02-08 09:40:14 PM  
Alright, a "rebate" on the backs of my children plus interest. Will the brilliant ideas from Washington ever cease?
 
2008-02-08 09:40:18 PM  
I qualitys.
 
2008-02-08 09:40:23 PM  
I agree that future generations will pay because it comes from debt.

But this is not a "rebate", it is by the defination of the term, a "cash advance." To call it a rebate is simply to lie.
 
2008-02-08 09:40:51 PM  
FTFA:
Do I have to pay the rebate back?

Your rebate is a one-time tax cut - an advance on a credit you'll receive on your 2008 return.


WTF?!?!
 
2008-02-08 09:41:46 PM  
CheddarPants: They forgot this question:

Who the fark is paying for this?

Your children and grandchildren.


Well, the idea is that this will kick-start the economy, which will create more jobs, which will ultimately create more tax income -- thus paying for the package.

It won't work that way, but that's theoretically how it's supposed to work.
 
2008-02-08 09:41:59 PM  
Is this like a 'payday' cash advance? With 800% interest?
 
2008-02-08 09:42:16 PM  
The US government. Now with $600 less rape**!

**Don't tell your kids about it
 
2008-02-08 09:43:04 PM  
So i have to use 1040 or 1040EZ? Is there a 1040A? I think I do a 1040A because of Student Loan interest...So does that not work? I don't qualify?
 
2008-02-08 09:43:28 PM  
Technically- since the check is a tax rebate, therefore a reduction of taxes in definition, it should not count toward next years taxable income.
 
2008-02-08 09:43:51 PM  
Too bad no one actually read the article.


Do I have to pay the rebate back?


No. And here's why.

Your rebate is a one-time tax cut - an advance on a credit you'll receive on your 2008 return.

It's based on your 2007 income initially. If it turns out that your 2008 income and number of children would have qualified you for a larger rebate than the one you received, you'll be sent the difference. If it turns out your 2008 income was lower than in 2007 and you should have gotten a lower rebate, you get to keep the difference.

"If you were supposed to receive a larger payment than you did, you will get the extra money," said Treasury spokesman Andrew DeSouza. "If you received more than what you should have gotten, you will not be penalized."


So you're essentially getting a pre-refund on what your refund would have been in 2009. If you aren't due a refund, no problem -- doesn't count against you. If you are due a refund, it'll be less the amount of your refund. The IRS will probably find a way to screw you somehow, but again, when has the government ever thought anything through?
 
2008-02-08 09:44:12 PM  
GodIsDead: The rules for these rebate checks reads a lot like stereo instructions

Apparently grammatical rules are just as difficult. Watch your plurals there subby.

\Don't quality for rebate
\\A tad bitter about it


Talk about bitter--as teh ghey with a bf who has been disinclined to go back to work, I will get zip, he will get $300 (I think). If we were allowed to file jointly we'd get some portion of $1,200, if not all (not bothering to figure out what deductions are above the line for AGI).

/so not having marriage (or if you prefer civil unions) sucks
//yes, yes nothing's stopping me from marrying a woman
///but then I'd have two people to support plus kids--how'd that make me better off
 
2008-02-08 09:44:43 PM  
buzzvert: Technically- since the check is a tax rebate, therefore a reduction of taxes in definition, it should not count toward next years taxable income.

You'll probably need to account for it on your state return though.
 
2008-02-08 09:44:46 PM  
CheddarPants: They forgot this question:

Who the fark is paying for this?

Your children and grandchildren.


We consider it a down payment on our lawn.
 
2008-02-08 09:45:13 PM  
And may I add, wow. Just wow. That's about as simple as a tax law gets people... what more do you want?
 
2008-02-08 09:45:46 PM  
Nothing like giving everyone a little extra cash to spend on Chinese products.

Want to help the economy? Hire workers to farking rebuild New Orleans.
 
2008-02-08 09:46:33 PM  
BronchialStatue: You'll probably need to account for it on your state return though.

It should be inconsequential with regard to the amount of state tax paid.

And again, SO many people won't do that, that nobody's going to follow up.
 
2008-02-08 09:47:19 PM  
The rebate money is essentially coming from China... so people can turn around and spend it on Chinese crap. Great!
 
2008-02-08 09:48:13 PM  
ChewbaccaJones: I am a bit confused as to why anyone would look forward to these checks.
If this is anything like the last time "$300 rebates" were issued, we are just
going to have to pay the amount we receive back come April of next year.

Seeing as how they are not going to even start issuing the checks until May
or June, and given the blinding speed of government efficiency: You will have
a couple of blissful months between the time you receive your check, and the time
you have to pay back that amount in full. Congratulations, you just borrowed your
own money from the Gov't for a few months.


For Congress, it's an election year scam. Bush isn't up for reelction... he's just a flaming idiot
 
2008-02-08 09:48:16 PM  
Maybe the feds should incorporate math and tax laws into video games, to invoke accidental intelligence.
 
2008-02-08 09:49:14 PM  
oh! don't forget to vote in the cnn poll. what will you do with your "rebate"?
 
2008-02-08 09:49:33 PM  
loser0: Nothing like giving everyone a little extra cash to spend on Chinese products.

Want to help the economy? Hire workers to farking rebuild New Orleans.


You realize it wasn't bombed by a foreign nation, right?
 
2008-02-08 09:50:02 PM  
Am I missing something here? You don't have to pay back the amount dollar for dollar. It's taxable income. A percentage of which will be applied and that is what you will pay against when you file in 2009.
 
2008-02-08 09:50:04 PM  

And probably the worst thing about this rebate idea: it still won't stop us from slipping into a recession. My company is already examinig what each person's duties in our company is. We had to fill out a sheet with all those details, explaining what you do.


I'll probably receive this check about the same time I get my pink slip.

 
2008-02-08 09:50:43 PM  
ChewbaccaJones: You will have
a couple of blissful months between the time you receive your check, and the time
you have to pay back that amount in full.


You're confusing tax rebates with payday loans. Please back up 8 articles, and take a "Community Chest" card. Do not pass go. Do not collect $600.
 
2008-02-08 09:52:09 PM  
loser0: Nothing like giving everyone a little extra cash to spend on Chinese products.

Want to help the economy? Hire workers to farking rebuild New Orleans.


I'll tell you what. Spend your tax rebate to come to Houston and take back all the poor disenfranchised people who have been so disinclined to leave. I'm sure you could hire a dozen of them for a case of beer a day.
 
2008-02-08 09:52:27 PM  
skinink

And probably the worst thing about this rebate idea: it still won't stop us from slipping into a recession. My company is already examinig what each person's duties in our company is. We had to fill out a sheet with all those details, explaining what you do.

What's next? Meeting with the Bob's?
 
2008-02-08 09:52:40 PM  
Bucky Katt: ChewbaccaJones: I am a bit confused as to why anyone would look forward to these checks.
If this is anything like the last time "$300 rebates" were issued, we are just
going to have to pay the amount we receive back come April of next year.

Seeing as how they are not going to even start issuing the checks until May
or June, and given the blinding speed of government efficiency: You will have
a couple of blissful months between the time you receive your check, and the time
you have to pay back that amount in full. Congratulations, you just borrowed your
own money from the Gov't for a few months.

For Congress, it's an election year scam. Bush isn't up for reelction... he's just a flaming idiot


God almight you Farkers can be a bunch of fudking idiots. Do I have to explain this to you in every farking thread about the tax cut. You are being given a tax credit on top of what you owe for 2008. Instead of giving it to you next year they are giving it to you now. Your taxes otherwise are going to be exactly the farking same.
 
2008-02-08 09:53:18 PM  
loser0: Want to help the economy flush money down the toilet? Hire workers to farking rebuild New Orleans.

I'm sure that's what you meant.

/qualify post
 
2008-02-08 09:53:34 PM  
Next year's tax refund will be $600 less. If you don't get a refund, this won't add to your tax bill.
 
2008-02-08 09:54:24 PM  
"Some people are normally not required to file a return. To get the rebate, however, they have to file a federal tax return."

Looks like my mother wont be getting a check back even though she's on Social Security. She hasn't had to file a return for almost 10 years and I doubt she's going to start now.
 
2008-02-08 09:54:38 PM  
pianomom: Am I missing something here? You don't have to pay back the amount dollar for dollar. It's taxable income. A percentage of which will be applied and that is what you will pay against when you file in 2009.

You are right. Do let he morans on Fark confuse you. I have already offered to take that check off of their hands and let them write it off as a loss. So far there are no takers.
 
2008-02-08 09:54:40 PM  
Want to help the economy? Hire workers to farking rebuild New Orleans.

Why? It is just a matter of time before it is under water for good...
 
2008-02-08 09:55:09 PM  
$100 of my rebate buys a fine dinner for my lady and me at a locally owned restaurant.

The remaining $1100 goes directly into the emergency fund I've been building for when the recession finally sinks its fangs into the economy and I get laid off again.

All set.
 
2008-02-08 09:55:23 PM  
DaSwankOne: Bucky Katt: ChewbaccaJones: I am a bit confused as to why anyone would look forward to these checks.
If this is anything like the last time "$300 rebates" were issued, we are just
going to have to pay the amount we receive back come April of next year.

Seeing as how they are not going to even start issuing the checks until May
or June, and given the blinding speed of government efficiency: You will have
a couple of blissful months between the time you receive your check, and the time
you have to pay back that amount in full. Congratulations, you just borrowed your
own money from the Gov't for a few months.

For Congress, it's an election year scam. Bush isn't up for reelction... he's just a flaming idiot

God almight you Farkers can be a bunch of fudking idiots. Do I have to explain this to you in every farking thread about the tax cut. You are being given a tax credit on top of what you owe for 2008. Instead of giving it to you next year they are giving it to you now. Your taxes otherwise are going to be exactly the farking same.


That's the scam you idiot. They're describing it as something other than what it is. You know, lying.
 
2008-02-08 09:55:28 PM  
It's not a loan you have to pay back. It's a extra credit ajustment just like Earned Income Credit except you get an advance on it now instead of having to wait until you file for the 2008 year in the Spring of 2009.


I'm sure they could have added onto 2007 so there would be less confusion but they waited a tad too late since lots of people start filing as fast as they got their 2007 W2's.
 
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