Just Got My IRS $600 Refund - Page 2

Ronstar · 05-11-2008, 05:15 AM

Quote:

Originally Posted by yakers

Yawn, no plans to do anything with it. Just showed up electronically in my checking account. I can see some folks getting excited about it but not me. Its just a loan to myself.
Anyone actually getting excited?

I'd be excited if I got one.

podey · 05-12-2008, 09:23 AM

I got $600 bucks Friday. Then picked up my mail Friday and the IRS says I owe $124 on my 2006 taxes. Fidelity's reported income does not match mine on my 1040. wtf?

SecondCor521 · 05-12-2008, 09:32 AM

I sent my $1500 off to Vanguard.

2Cor521

tryan · 05-12-2008, 10:43 AM

Man ... you people are awfully trusting of Uncle Sam to give him direct access to your checking accounts. If he can put $$ IN, he can take $$ OUT.

REWahoo · 05-12-2008, 10:47 AM

Quote:

Originally Posted by tryan

Man ... you people are awfully trusting of Uncle Sam to give him direct access to your checking accounts. If he can put $$ IN, he can take $$ OUT.

You think Uncle Sam needs your permission to access your checking account?

tryan · 05-12-2008, 10:52 AM

hmmm, good point ... hard to work out of a mattress.

cute fuzzy bunny · 05-12-2008, 06:31 PM

You think Uncle Sam needs your permission to access your mattress?

Notmuchlonger · 05-12-2008, 06:40 PM

Quote:

Originally Posted by cute fuzzy bunny

You think Uncle Sam needs your permission to access your mattress?

WHAT?

BigBob · 05-13-2008, 12:18 PM

Quote:

Originally Posted by podey

I got $600 bucks Friday. Then picked up my mail Friday and the IRS says I owe $124 on my 2006 taxes. Fidelity's reported income does not match mine on my 1040. wtf?

IRS messed mine up too. Got the $1200 direct deposit, but they must have "forgot" that I have 2 kids under 17 (and 2 more above 17 that don't count

) . Not sure how they could have missed it, as TurboTax has their birthdates and SSNs. Guess I gotta give the IRS a call - or shouldn't I open that can of worms...

yakers · 05-13-2008, 04:53 PM

Wife & I wanted to put it to its best use. So we sent it on to Habitat For Humanity. We returned from working on a HFH project in Biloxi, MS a week ago. The money will be well used. Folks struggling with housing problems there that have nothing to do with the mortgage finance issues in the rest of the country.

cute fuzzy bunny · 05-13-2008, 05:57 PM

Quote:

Originally Posted by BigBob

IRS messed mine up too. Got the $1200 direct deposit, but they must have "forgot" that I have 2 kids under 17 (and 2 more above 17 that don't count

) . Not sure how they could have missed it, as TurboTax has their birthdates and SSNs. Guess I gotta give the IRS a call - or shouldn't I open that can of worms...

Check into the fine print. There was something in there about reductions in the amounts paid for kids under certain circumstances. I think that if your use of the child tax credit was reduced, so is your kickback.

BigBob · 05-14-2008, 06:51 AM

Quote:

Originally Posted by cute fuzzy bunny

Check into the fine print. There was something in there about reductions in the amounts paid for kids under certain circumstances. I think that if your use of the child tax credit was reduced, so is your kickback.

Guess I will wait until I get their explanation in writing. I believe bullet item 2 may have applied, as I am still using up our adoption credit from 3 years ago as well as some Hope/Lifetime credits. Doesn't seem quite right, but maybe it all comes out in the wash and will get more back when I file taxes next year.
The snippet from irs.gov Economic Stimulus Payments: Most Frequently Asked Questions says:

Your payment may be less than the maximum for one or more of the following reasons:

You are single and your net income tax liability is less than $600. If you file Form 1040 net income tax liability is the amount shown on Line 57, plus the amount on Line 52.
You are married and your net income tax liability is less than $1,200.
You are single and your adjusted gross income (AGI) is more than $75,000. On Form 1040, AGI is the amount on Line 37.
You are married filing a joint return and your AGI is more than $150,000.
You owe back taxes that reduced your payment.
You have non-tax federal debts such as unpaid student loans or child-support obligations that reduced your payment.

Around the time you receive your payment, you will also receive a notice from the IRS explaining how your payment was calculated. It is important to keep this notice as a record of your economic stimulus payment. In addition, you’ll get a separate notice if you owe back taxes or non-tax debts that were offset or deducted from your stimulus payment.

OAG · 05-14-2008, 07:55 AM

Hang in there - the second letter from the IRS will come about a week after you get you payment along with the phone number to call if you still have questions.

ex_CFO_now_RVer · 05-14-2008, 12:08 PM

Not eligible for stimulus check, but paid $5,500 in AMT.

Dave

cute fuzzy bunny · 05-14-2008, 05:30 PM

Anyone else wish they'd just kept the two "you're a winner!" letters, saved the $xx million in postage and processing, and gave us all an extra .50c?

HFWR · 05-14-2008, 05:37 PM

Quote:

Originally Posted by cute fuzzy bunny

Anyone else wish they'd just kept the two "you're a winner!" letters, saved the $xx million in postage and processing, and gave us all an extra .50c?

I purchased a couple of items from Home Depot the other day. The actual receipt was required maybe 5-6" of paper; the "log on and respond to our survey" portion was another 10-12"... Wonder how much extra they spend for me to recycle their extra paper...

cute fuzzy bunny · 05-14-2008, 05:50 PM

Lowes did that for me yesterday. I bought one fence board as a sample to show my neighbors ($3.37). I struggled for about 5 minutes with the self checkout that asked me about 15 times to put the item in the bagging area, then take the unknown item out of the bagging area. Then it glerked on my credit card about 6 times in a row. Finally it spit out 3' of register tape.

I'm absolutely sure that no actual profit was generated for anyone in that transaction.

spazz · 05-14-2008, 07:40 PM

NEW YORK -- If U.S. consumers are worried about conserving cash from the tax-rebate cheques they've started getting in the mail, Dean Rallo isn't seeing any evidence of it at the four furniture and appliance stores he oversees in Buffalo.
....

Still, even if consumers end up spending most of their cheques, some economists say the stimulus effort won't be enough to avert what would be the first decline in U.S. personal consumption since 1991.
"I still maintain the business cycle is bigger than the government," David Rosenberg, North American economist with Merrill Lynch, said at a client conference in Singapore yesterday.

full article here, U.S. shoppers are using rebate cheques

happy2bretired · 05-15-2008, 08:38 AM

I've been thinking about splurging on a new washer and dryer with my big $600 check. At least it would help put a dent in the cost of replacing my 12 year pair. Hopefully new machines would lower my utility costs too.

Now I need to revisit the thread on washers and dryers.

Notmuchlonger · 05-15-2008, 09:49 AM

Sweet! im going to Costco today to celebrate!

05-12-2008, 09:32 AM	#23
SecondCor521 Thinks s/he gets paid by the post Join Date: Jun 2006 Location: Boise Posts: 1,276	I sent my $1500 off to Vanguard. 2Cor521 __________________ "At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.

05-12-2008, 10:43 AM	#24
tryan Thinks s/he gets paid by the post Join Date: Mar 2005 Posts: 1,415	Man ... you people are awfully trusting of Uncle Sam to give him direct access to your checking accounts. If he can put $$ IN, he can take $$ OUT. __________________ FIRE'd since 2005

05-12-2008, 10:52 AM	#26
tryan Thinks s/he gets paid by the post Join Date: Mar 2005 Posts: 1,415	hmmm, good point ... hard to work out of a mattress. __________________ FIRE'd since 2005

05-12-2008, 06:31 PM	#27
cute fuzzy bunny Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Dec 2003 Location: Hot cross bun Posts: 21,359	You think Uncle Sam needs your permission to access your mattress? __________________ Mr. Poopyhead

05-13-2008, 04:53 PM	#30
yakers Thinks s/he gets paid by the post Join Date: Jul 2003 Posts: 1,564	Wife & I wanted to put it to its best use. So we sent it on to Habitat For Humanity. We returned from working on a HFH project in Biloxi, MS a week ago. The money will be well used. Folks struggling with housing problems there that have nothing to do with the mortgage finance issues in the rest of the country. __________________ A slave is someone who waits for someone else to free them

05-12-2008, 09:23 AM	#22
podey Recycles dryer sheets Join Date: Dec 2007 Posts: 102	I got $600 bucks Friday. Then picked up my mail Friday and the IRS says I owe $124 on my 2006 taxes. Fidelity's reported income does not match mine on my 1040. wtf?

05-14-2008, 07:55 AM	#33
OAG Thinks s/he gets paid by the post Join Date: Jun 2006 Location: Dublin, Ohio Posts: 1,383	Hang in there - the second letter from the IRS will come about a week after you get you payment along with the phone number to call if you still have questions. __________________ Proud Vietnam Veteran: Cu Chi 66, 1/25th, HHC 25th and Pleiku 66-67 41st Sig Bn 1st STRATCOM

05-14-2008, 12:08 PM	#34
ex_CFO_now_RVer Recycles dryer sheets Join Date: Apr 2005 Posts: 97	Not eligible for stimulus check, but paid $5,500 in AMT. Dave __________________ Born with nothing, still have most of it left! Need to be on the road more!

05-14-2008, 05:30 PM	#35
cute fuzzy bunny Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Dec 2003 Location: Hot cross bun Posts: 21,359	Anyone else wish they'd just kept the two "you're a winner!" letters, saved the $xx million in postage and processing, and gave us all an extra .50c? __________________ Mr. Poopyhead

05-14-2008, 05:50 PM	#37
cute fuzzy bunny Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Dec 2003 Location: Hot cross bun Posts: 21,359	Lowes did that for me yesterday. I bought one fence board as a sample to show my neighbors ($3.37). I struggled for about 5 minutes with the self checkout that asked me about 15 times to put the item in the bagging area, then take the unknown item out of the bagging area. Then it glerked on my credit card about 6 times in a row. Finally it spit out 3' of register tape. I'm absolutely sure that no actual profit was generated for anyone in that transaction. __________________ Mr. Poopyhead

05-14-2008, 07:40 PM	#38
spazz Dryer sheet wannabe Join Date: Dec 2007 Posts: 16	Let the spending begin! NEW YORK -- If U.S. consumers are worried about conserving cash from the tax-rebate cheques they've started getting in the mail, Dean Rallo isn't seeing any evidence of it at the four furniture and appliance stores he oversees in Buffalo. .... Still, even if consumers end up spending most of their cheques, some economists say the stimulus effort won't be enough to avert what would be the first decline in U.S. personal consumption since 1991. "I still maintain the business cycle is bigger than the government," David Rosenberg, North American economist with Merrill Lynch, said at a client conference in Singapore yesterday. full article here, U.S. shoppers are using rebate cheques

05-15-2008, 08:38 AM	#39
happy2bretired Recycles dryer sheets Join Date: Mar 2007 Location: Nebraska Posts: 447	I've been thinking about splurging on a new washer and dryer with my big $600 check. At least it would help put a dent in the cost of replacing my 12 year pair. Hopefully new machines would lower my utility costs too. Now I need to revisit the thread on washers and dryers.

05-15-2008, 09:49 AM	#40
Notmuchlonger Thinks s/he gets paid by the post Join Date: Dec 2007 Posts: 2,508	Sweet! im going to Costco today to celebrate! __________________ hey you kids get off my lawn!