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  1. #1
    Atomic Punk MikeL's Avatar
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    03.03.15 @ 08:31 PM
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    Anybody done their taxes yet? Remember those nice little rebate checks Bush made such a big deal about? Turns out that they were a load of shit.

    I did my federal taxes tonight. Sure enough, you've got to mention how much you got back in your tax rebate check. And guess what? If you're owed a refund, the amount of your tax rebate is deducted from it!

    I wonder what asshole devised this ponzi scheme? [img]graemlins/irked.gif[/img]

  2. #2
    Master Bluesman Elwood P.'s Avatar
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    Gee MikeL, I don't know. Did my taxes last week and didn't see where I had to claim my 300 bucks. Asked a couple of guys at work and they said the same thing. Plus if this is true, I'm sure I would have heard Daschle or Gephardt or one of those other Dems screaming Bloody murder. Maybe you forgot to carry the 2 or something in your math. I'll look further into this though.

    Then again I quickly invested my 300 back into the local economy, Beer and strippers. Maybe I got credit for that.

  3. #3
    carpe damn diem billy007's Avatar
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    I'm pretty sure I heard right from the get-go that this rebate was actually an advance on your 2001 tax refund. What place on the form did you have to enter it?

  4. #4
    Sinner's Swing! twonabomber's Avatar
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    12.08.16 @ 03:21 AM
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    did mine with the Tele-File thing, it filled in all the numbers for me, so if it's wrong, it's their fuckup, not mine. got my federal and state refunds back already, time to order that new computer.
    "is this a good show tonight, or fuckin' what?" - DLR, Montreal, 11/10/07

    Toronto 10/7...Cleveland 10/10...Toronto 10/12...Montreal 11/10

  5. #5
    Damage your reputation seenbad's Avatar
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    12.15.17 @ 10:48 AM
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    you got them back already?!?! I thought they didnt even start processing until April and start issuing refunds until June or so.
    sheepa latta peepah dabba looka foh a moopy

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  6. #6
    Atomic Punk MikeL's Avatar
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    03.03.15 @ 08:31 PM
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    I do everything with TaxCut, which makes it pretty plain that it comes in as a deduction from your 2001 refund. It's entirely possible that if you didn't see it on your 1040EZ or 1040A you may have been required to use a full 1040. That's just me speculating, though. Using the right form is the responsibility of the filer.

    Billy, I can't remember what was said. Any way you cut it, it's all smoke and mirrors. [img]graemlins/irked.gif[/img]

    Don't lying, deceptive politicians bother people anymore, or did that sentiment leave office with Clinton?

  7. #7
    Sinner's Swing! twonabomber's Avatar
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    Originally posted by seenbad:
    you got them back already?!?! I thought they didnt even start processing until April and start issuing refunds until June or so.
    got my W-2 on Jan 12, did the Tele-File that night, both fed and state. my state refund hit my account on the 18th (not even a week) and the fed hit Friday morning (a day short of two weeks). i double checked the booklet to make sure there was nothing in there about the refund, and there was no specific line for it either, so i'm not worrying about it. the Tele-File system starts on Jan 10th, so i was only two days behind. if they waited till April to process, they wouldn't be done until October.
    "is this a good show tonight, or fuckin' what?" - DLR, Montreal, 11/10/07

    Toronto 10/7...Cleveland 10/10...Toronto 10/12...Montreal 11/10

  8. #8
    Baluchitherium Lead Synth's Avatar
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    02.22.16 @ 08:29 AM
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    I could sure use $300 right now.
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  9. #9
    Niners Fan! SactoFan's Avatar
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    Mike, are you sure about this? Where can I see the forms you used? *EXTREMELY curious*
    Can't stop...addicted to the shindig...

  10. #10
    Atomic Punk MikeL's Avatar
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    Like I said, it's Kiplinger's TaxCut. I'll print out some forms later and see where it shows up.

  11. #11
    Atomic Punk MikeL's Avatar
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    It's H&R Block, not Kiplinger's. [img]smile.gif[/img]

  12. #12
    Niners Fan! SactoFan's Avatar
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    I just checked Rick Santorum's site where he had faq about the rebates...It says there that the rebate will NOT be considered 2001 taxable income...
    Can't stop...addicted to the shindig...

  13. #13
    Niners Fan! SactoFan's Avatar
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    According to Santorum's site, "When taxpayers file their 2001 tax returns, they will reconcile the credit to which they are entitled with the rebate check they received from the Treasury. Any difference between the rebate and the allowable credit will be provided in the form of a tax credit to offset the taxpayer's tax liability for 2001."

    This is referring to the rate reductions. If your rate went down by x, you got a projected credit. If the credit didn't cover the ACTUAL rate cut based on your income, you get more tax credit...At least that's how I'm reading it...
    Can't stop...addicted to the shindig...

  14. #14
    Atomic Punk MikeL's Avatar
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    Originally posted by SactoFan:
    Mike, are you sure about this? Where can I see the forms you used? *EXTREMELY curious*
    Yup, I'm sure now. Just looked at the 1040A instructions from irs.gov. On page 36 it covers line 30 from the form. That's the rate reduction credit. In plain terms that's our tax rebate, with a bunch of math added in. Billy is right, it was an advance credit on our 2001 taxes.

    For those of you that didn't see it, ya better have a look.

    What a fucking crock, eh? How much money was spent to give everyone an advance? The damn thing was touted as a rebate. In the end, we spent a shitload of time and money, complicated the tax filing system, and changed people's bottom line by nothing.

    Efficiency in government? Yeah, right.

  15. #15
    Niners Fan! SactoFan's Avatar
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    I still think the rebates were part of your overall RATE reduction...

    The Democrats would have been all over this if we were being taxed on our rebate!!

    Gotta call the accountant!!
    Can't stop...addicted to the shindig...

 

 

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