Returning $$$ back for stimulus checks

[SandyK]

You bet, just wait and see what happens if they pass this so call Health Plan!! Can't even imagine how much they will take from us, even after all the promises of no tax increases. What a bunch of lies.

 

[Goose and Fig]

Quote:

Your taxes didn't go down like the rest of working America? So sorry that you're wealthy. It must be awful!

 

[SandyK]

Not sure what that means HappyMtn! Under Obama, you can bet your last dollar you will be paying more next year no matter what. That is if you pay taxes I guess! No not wealthy. SAHM

 

[Funky Feathers]

Ha, you think that's bad? My DH got laid off in April, he gets unemployment, but didn't have any taxes taken out, thinking it was only temporary! Now we have to come up with THOUSANDS $$ to pay the IRS at tax time!

 

[kstaven]

BE VERY CAUTIOUS ABOUT STAYING ON TOPIC HERE FOLKS OR WE WILL HAVE TO CLOSE THIS THREAD.

 

[Chickn chick 46]

I had heard something about this earlier this year. I had DH have his employer withhold more from his check. Come March we really need that tax refund

 

[Blue Skys]

It was very misleading when they first announced that the withholding would be lowered. It just takes some investigating, on your own (not the news), to find out what is really going on. I don't think that it should have been allowed because of how misleading it really is/was.

Oh and I always try not to get a return every year, if I get a return, that means I gave the government a free loan.

 

[EweSheep]

In that case, I have not seen anything related to the news on the IRS website. Are they slow about it or rather not dealing with the overwhelming response of taxpayer's grievances?

 

[vfem]

I heard Joe Biden say the banks have already paid back about $10billion of the bail out, but they got a talking to about lending practices AGAIN!

I was happy to here pay backs have started WITH interest, in case anyone didn't know... it was like 10% interest on that bailout money. I need to find a link to the interview, it was on the daily show on Comedy central of all places last week!!!

I have to pay back the $7500 new homeowners credit they had last year, it changed to $8000 and no pay back AFTER I got our credit... oh well. $500 out of my tax return interest free is better then any HELOC we'd EVER get!!! I'll TAKE IT!

 

[BarbK]

Hi. This is BarbK's Mom. I was listening to Barb telling me about all of these posts regarding the stimulus check that people have gotten in the last 2 years, and whether it has to be paid back or not. I am a tax specialist. I decided to put my comments in on the subject. Here is the bottom line on repayment of the stimulus payment you may have received. Unless something has changed very recently, this is how it works. If you have received a stimulus payment, and you either owe taxes or do not have a refund coming, you DO NOT have to pay the stimjulus money back. However, if you have a refund coming on your tax return, your refund will be reduced by the amount of stimulus money which you received. It was stated from the very beginning that this money would have to be repaid to the government. It was only meant as a interest free loan to get people to spend money. gdk