He is your friend, your partner, your defender, your dog. You are his life, his love, his leader. He will be yours, faithful and true, to the last beat of his heart. You owe it to him to be worthy of such devotion.
— Unknown
I am accountant too and that's the same thing we're hearing. From the literature (accurate sources) we have received, it is an advance for a credit on your 2008 return.
Right, but that doesn't mean you are going to have to "pay it back".
If you receive $600 this year, you simply won't receive any of that credit next year. (This rebate is basically a refundable credit for 2008). You will still receive the difference of tax withheld minus tax liability next year as a refund like always.
Right, but that doesn't mean you are going to have to "pay it back".
If you receive $600 this year, you simply won't receive any of that credit next year. (This rebate is basically a refundable credit for 2008). You will still receive the difference of tax withheld minus tax liability next year as a refund like always.
wow, i couldn't be an accountant if my life depended on it :(
The best use of Life is Love.
The best expression of Love is Time.
The best time to Love is Now.
Right, but that doesn't mean you are going to have to "pay it back".
If you receive $600 this year, you simply won't receive any of that credit next year. (This rebate is basically a refundable credit for 2008). You will still receive the difference of tax withheld minus tax liability next year as a refund like always.
We eventually have to "pay it back". This rebate is similar to taking a cash advance on your credit card...it's more dough in your pocket, but the national debt will just get more out of control. Its an election year ploy!
Keep in mind that the rebate starts to get phased-out (reduced) once your income reaches $75,000/$150,000 for single/married filiers.
You know that's not what he meant. Yes eventually we all pay it back someway or another indirectly, but no we are not required to literally pay it back. You know this.
This subject was discussed extensively and exhaustively here:
Comments
oxc
*May the Peace of the Wilderness be with YOU*
He is your friend, your partner, your defender, your dog. You are his life, his love, his leader. He will be yours, faithful and true, to the last beat of his heart. You owe it to him to be worthy of such devotion.
— Unknown
Right, but that doesn't mean you are going to have to "pay it back".
If you receive $600 this year, you simply won't receive any of that credit next year. (This rebate is basically a refundable credit for 2008). You will still receive the difference of tax withheld minus tax liability next year as a refund like always.
wow, i couldn't be an accountant if my life depended on it :(
The best expression of Love is Time.
The best time to Love is Now.
I'm never as good as when you're there.........
We eventually have to "pay it back". This rebate is similar to taking a cash advance on your credit card...it's more dough in your pocket, but the national debt will just get more out of control. Its an election year ploy!
Keep in mind that the rebate starts to get phased-out (reduced) once your income reaches $75,000/$150,000 for single/married filiers.
You know that's not what he meant. Yes eventually we all pay it back someway or another indirectly, but no we are not required to literally pay it back. You know this.
This subject was discussed extensively and exhaustively here:
http://forums.pearljam.com/showthread.php?t=272486
http://forums.pearljam.com/showthread.php?t=272825