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02-06-2008, 03:37 PM
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#21
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 4,629
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Quote:
Originally Posted by Miss_Lala
My co-worker is 24, and lives with her mother. She paid into federal taxes this year, but her mother mistakenly claimed her on her mother's taxes. She's wondering if she's going to be getting any of the tax relief since she did pay into taxes.
Also, even though her mother claimed her, is there any way that she can still claim herself when she files taxes?
Thanks in advance!
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It seems that Mom needs to file an amended return. Here's a source: Frequently Asked Questions - 1.3 Amended Returns & Form 1040X
Then the daughter goes ahead and files her regular return.
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02-06-2008, 03:50 PM
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#22
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Full time employment: Posting here.
Join Date: Aug 2006
Location: Columbus
Posts: 769
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Quote:
Originally Posted by kombat
That's false. Most Americans have no credit card debt at all. A quarter of Americans don't even have a credit card.
Of the households that do owe money on credit cards, the median balance was $2,200 -- meaning half owe more, half less.
Only 8.3% of households owe $9,000 or more on their cards.
Source: The Big Lie About Credit Card Debt (MSN Money)
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It's really hard to tell who's lying about what these days. But maybe some real numbers will roll some eyes.
According to the Federal Reserve revolving consumer credit for November 2007 was a whopping $937,500,000,000. That's 937.5 Billion, with a big B. If each one of us is an equal partner in this crime that's $3123.33 each.
FRB: G.19 Release--Consumer Credit--January 10, 2008
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02-06-2008, 04:33 PM
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#23
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 3,895
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"attitudes are more important than facts"~~saying
__________________
"off with their heads"~~dr. joseph-ignace guillotin
"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
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02-06-2008, 04:42 PM
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#24
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Administrator
Join Date: Apr 2006
Posts: 23,038
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The point is not that by sending out $600 checks, the people in Washington are doing something to solve the problem, it is that they are seen as doing something, regardless of whether it solves the problem.
__________________
Living an analog life in the Digital Age.
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02-06-2008, 04:47 PM
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#25
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Recycles dryer sheets
Join Date: Sep 2007
Posts: 488
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So what's everyone going to do with their rebate?
I plan on putting it in my checking account and then forget about it.
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02-06-2008, 04:52 PM
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#26
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 2,020
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Quote:
Originally Posted by Razor
So what's everyone going to do with their rebate?
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I'm going to blow it on an ibond.
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02-06-2008, 05:09 PM
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#27
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Recycles dryer sheets
Join Date: Dec 2006
Posts: 479
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Quote:
Originally Posted by Razor
So what's everyone going to do with their rebate?
I plan on putting it in my checking account and then forget about it.
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I will use it for one of my vacations later this yr.
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02-06-2008, 05:17 PM
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#28
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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Didn't pass in the Senate today.
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02-06-2008, 06:09 PM
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#29
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Recycles dryer sheets
Join Date: Dec 2006
Posts: 479
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...The dispute has slowed down the stimulus measure, but there's no indication that it will delay rebate checks, which are expected to begin arriving in May. The rebates will be based on 2007 tax returns, which aren't due until April 15.
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02-06-2008, 06:35 PM
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#30
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2004
Location: SW Ohio
Posts: 14,404
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What will I do? Donate every dime of the refund to Ralph Nader's campaign!! Everyone get on board!!
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02-06-2008, 06:52 PM
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#31
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
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Quote:
Originally Posted by samclem
...Ralph Nader's campaign...
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Unsafe at any speed...
__________________
Have Funds, Will Retire
...not doing anything of true substance...
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02-06-2008, 07:30 PM
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#32
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Recycles dryer sheets
Join Date: Aug 2007
Posts: 433
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Six hundred bucks?
I believe the French idiom is "pet-en-l'air". I'm not referring to the garment.
__________________
Consult with only myself as your adviser or representative. My thoughts should be construed as investment advice of the highest caliber. Past performance is but a pale shadow and guarantee of even greater results in the future.
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02-06-2008, 08:26 PM
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#33
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Thinks s/he gets paid by the post
Join Date: Mar 2004
Posts: 1,318
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A phfftttt in the wind, so to speak...
It bugs me that my kids are going to have to pay all this back so the politicians today can show the electorate they feel their pain. Anytime somebody wants to use my money to show me they feel my pain, I really get anxious...
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02-07-2008, 11:40 AM
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#34
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Thinks s/he gets paid by the post
Join Date: Oct 2005
Posts: 4,898
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Quote:
Originally Posted by JohnDoe
...The dispute has slowed down the stimulus measure, but there's no indication that it will delay rebate checks, which are expected to begin arriving in May. The rebates will be based on 2007 tax returns, which aren't due until April 15.
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Based on 2007 returns? I hadn't read that but it's good news to me! Would you please post a link to the source?
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02-07-2008, 01:24 PM
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#35
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Recycles dryer sheets
Join Date: Jan 2008
Posts: 328
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Quote:
Originally Posted by newguy888
Am I missing something here? Wouldn't a jobs program to say rebuild the infrastructure like say passenger rail service be a better choice? I mean put people to work, pay a good wage, have them then pay taxes on the wages, get new passenger rail service going here in the country??
How does giving you me and the butler 500 dollars keep the country out of a recession?? Odd, To borrow more money to give it back to us??
I saw a piece yesterday showing how many people would spend the 500 or 600 dollar check. Something like 48% would pay off credit card debt. Well that is a good idea but most americans have close to 15K in credit card debt!!! 600 dollars might pay a month or two of P&I at a 2% principal payment of a 15K balance. Woof! What is it like to have credit card balances of upwards of 15 or 20K making 40K a year??
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All good points.
But in all honesty, I believe that we're in the midst of a recession already (for the past 6-12 months).
__________________
Primary title "chief moron"
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02-07-2008, 02:52 PM
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#36
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
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The economy grew every quarter last year...
__________________
Have Funds, Will Retire
...not doing anything of true substance...
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02-07-2008, 05:10 PM
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#37
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Recycles dryer sheets
Join Date: May 2007
Posts: 216
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Quote:
Originally Posted by Oldbabe
Based on 2007 returns? I hadn't read that but it's good news to me! Would you please post a link to the source?
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Here's one:
My Way News - Senate Adds Aged, Vets to Stimulus Bill
__________________
"...I'm the kind of guy who if he can't have too much of a thing doesn't want any at all."
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02-07-2008, 08:22 PM
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#38
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Thinks s/he gets paid by the post
Join Date: Oct 2005
Posts: 4,898
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Quote:
Originally Posted by GatorBuzz
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Thanks. I'm glad they added disabled Vets but am also glad that the Republicans blocked the Democrats plan to enlarge the rebate (and I'm a Democrat!). Some of the Demo's additions had nothing to do with the stimulus idea.
Overall I agree with this guy:
"We have to remember that every dollar being spent on the stimulus package is being borrowed from our children. And our children's children," said Sen. Judd Gregg, R-N.H., who voted against the bill.
But I would add that every dollar spent on this rebate is probably rolling off the printing presses this very moment.
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02-07-2008, 09:01 PM
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#39
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Recycles dryer sheets
Join Date: Jan 2008
Posts: 328
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Quote:
Originally Posted by newguy888
Am I missing something here? Wouldn't a jobs program to say rebuild the infrastructure like say passenger rail service be a better choice? I mean put people to work, pay a good wage, have them then pay taxes on the wages, get new passenger rail service going here in the country??
How does giving you me and the butler 500 dollars keep the country out of a recession?? Odd, To borrow more money to give it back to us??
I saw a piece yesterday showing how many people would spend the 500 or 600 dollar check. Something like 48% would pay off credit card debt. Well that is a good idea but most americans have close to 15K in credit card debt!!! 600 dollars might pay a month or two of P&I at a 2% principal payment of a 15K balance. Woof! What is it like to have credit card balances of upwards of 15 or 20K making 40K a year??
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Yeah, that's what folks want people to believe.
We have a couple rewards credit cards that we use for everything we can. We do however PAY IN FULL every month (for more than 5 years now).
Guess what our "borrowing" was for 2007: - Average: $3,638
- Maximum: $5,887
- Minimum: $1,986
They could ignore folks like us in reports that they do (about people owing $15k). But, it's probably a way for them to *sucker* people into keeping credit cards around.
And guess what else. We netted about $610 in rewards for buying things that we already planned on buying anyway (i.e. groceries, gas, utilities).
And as for people making $40k/yr. That is again a median (or possibly average). I'm not saying people aren't making this little, or that people aren't making more, but that's what the median (or even average) would be telling us.
Again, I'm not really for the economic stimulus plan, but I'll happily put it in my savings account for when they decide to raise taxes to help offset the increased national debt.
__________________
Primary title "chief moron"
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02-07-2008, 09:04 PM
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#40
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Recycles dryer sheets
Join Date: Jan 2008
Posts: 328
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Quote:
Originally Posted by HFWR
The economy grew every quarter last year...
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Yeah, but isn't that what they said about 2001 (when it was occurring)?
__________________
Primary title "chief moron"
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