You will not owe taxes on your rebate stimulous package.
April 24, 2008 6:09pm CST
According to the IRS, http://www.irs.gov./newsroom/article/0,,id=179181,00.html you will not owe taxes on your rebate when you file your 2008 income tax return. However, you should keep a copy of the IRS letter you receive later this year listing the amount of your payment. In the event you do not qualify for the full amount this year but you do next year, you will need to have the letter as a record of the amount you previously received. http://www.irs.gov./newsroom/article/0,,id=179181,00.html Several people are getting nervous about getting this and are believing everything they read about having to pay this back next year and that is NOT true. The government can not do something like that without letting you know this first! Please go to http://www.irs.gov and read what their site has on it about the stimulous package. This is not money that will be taxed next year. ~Icy~
1 person likes this