|
Posted by Phil Marti on May 8, 2008, 2:35 am
Please log in for more thread options
"sue" wrote:
> OTOH, it sounds like you may not know that the stimulus payments now
> being
> issued are an advance payment, based on your 2007 return, of a tax
> year 2008
> refundable credit. That means that if you qualify for the payment
> and
> didn't receive an advance payment in 2008, you'll get the credit when
> you
> file your 2008 return in 2009.
>
> True? Where would I find that information ? If thast's the case I will
> be much happier.
I learned it by groping through the language of the law, HR 5140, which you
can find at http://thomas.loc.gov. Because I'm used to reading stat
language I find that easier than trying to find something in the simplified
explanations provided by IRS and the press, but that's not the case for most
people.
I suggest you try the special stimulus pages at www.irs.gov, concentrating
on finding references to the 2008 return.
--
Phil Marti
Clarksburg, MD
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Ernie Klein on May 8, 2008, 10:28 am
Please log in for more thread options
In article
> Phil wrote:
> OTOH, it sounds like you may not know that the stimulus payments now
> being
> issued are an advance payment, based on your 2007 return, of a tax
> year 2008
> refundable credit. That means that if you qualify for the payment
> and
> didn't receive an advance payment in 2008, you'll get the credit when
> you
> file your 2008 return in 2009.
>
> True? Where would I find that information ? If thast's the case I will
> be much happier.
It is part of the IRS FAQ's. Go to:
http://www.irs.gov/newsroom/article/0,,id=179211,00.html
See the forth question and answer.
--
-Ernie-
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Condor on May 7, 2008, 12:21 pm
Please log in for more thread options > Checked the IRS site to find out when we’re getting our rebate and it
> tells me we’re not because of an invalid social security number. I
> think it’s mine, I never changed from my maiden name 22 years ago,
> have been filing married filing jointly and getting our refunds or
> paying taxes every year with no problem. Now this, Can it be fixed? I
> spent 3 hours trying to get to the IRS today but you can’t get to
> anyone who knows the answer. Can I re-file using my maiden name ? If I
> go down now to SSI and change the name how would they ever know?
IRS makes one pass on each original return for ESP eligibility. If your
return was passed over because the secondary SSN is listed as invalid
(meaning the number and the name control, i.e., the first 4 letters of the
last name you used on the tax return, don't match), you will not receive a
stimulus check in 2008. It's in your interest to update your name with the
Social Security Administration (SSA), however, doing so won't change your
apparent ineligibility to receive a stimulus check.
As another response correctly told you, IRS gets a computer file weekly from
SSA that lists name corrections. You should receive Notice 1378 from IRS in
a couple of weeks formally notifying you that due to the invalid SSN, the
law forbids IRS to send you a stimulus check. As long as you get SSA to
change your name on their records this year, there should be no problem with
you qualifying for a stimulus credit on your 2008 return. All you need to
do is notify SSA of the name change. The IRS-SSA data match will take care
of the rest. However, due to IRS' one pass policy for ESPs, you and your
husband will receive any stimulus credit you qualify for when you file your
2008 tax return.
The IRS toll-free lines are flooded beyond capacity with stimulus payment
callers. If you want to talk with someone at IRS about your situation, you
can speak to an IRS customer service representative face to face at your
local IRS walk-in office.
http://www.irs.gov/localcontacts/index.html
Condor
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Paul Thomas, CPA on May 7, 2008, 1:29 pm
Please log in for more thread options
> The IRS toll-free lines are flooded beyond
> capacity with stimulus payment callers.
Slightly off-topic. But the proponents of the proposed National Retail and
Services Sales Tax initiative tout the monthly rebate check part of their
scheme. This one-time rebate is taking two and a half months to get out,
causing tens of thousands of hours of grief by debt ridden taxpayers, tens
of thousands of hours of telephone support personnel, and untold costs
related to the above.
Does anyone see a valid reason to do this every month?
--
Paul A. Thomas, CPA
Athens, Georgia
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Richard Barndt on May 7, 2008, 2:37 pm
Please log in for more thread options
> Slightly off-topic. But the proponents of the proposed National Retail
> and Services Sales Tax initiative tout the monthly rebate check part of
> their scheme. This one-time rebate is taking two and a half months to get
> out, causing tens of thousands of hours of grief by debt ridden taxpayers,
> tens of thousands of hours of telephone support personnel, and untold
> costs related to the above.
>
> Does anyone see a valid reason to do this every month?
>
I disagree. It is precisely because this was a one-time rebate that it is
so much trouble. First, it was passed at exactly the time when the IRS
software people are frantically trying to make sure that the previous year's
taxes are processed correctly and timely. Then, you were asking them to
base rebates on information that was just processed, has barely been
validated, and with new rules regarding eligibilty and amount which had to
be programmed in. On top of all that, the wording of the original law and
the subsequent notices is so confusing to the average person that results in
thousands of calls per day trying to clear up the confusion.
If I understand the Fair Tax and similar proposals correctly, you get a
rebate check every month to ensure that you do not pay tax on purchases that
would put you below the defined poverty level. Everyone gets this rebate
whether they make one dollar or one million dollars. And, the formula for
calculating the poverty level is clearly defined and based on some sort of
index which is also easy to program. Plus, there would be a transition
period for the software to be developed to do this totally new task. Based
on that understanding, checks could roll out on a regular schedule without a
hitch.
It is often easier to design a totally new process than to retrofit an
existing one. Especially given that IRS computers were invented in the
stone age because the speed of government cannot keep pace with the speed of
technology.
--
Richard
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
| Similar Threads | Posted | | rebate | February 11, 2008, 2:09 pm |
| Rebate? ? ? | June 1, 2008, 12:42 pm |
| Tax Rebate Question?? | January 25, 2008, 10:01 am |
| Another Tax Rebate Question | January 28, 2008, 11:24 am |
| Rebate Dependent | February 22, 2008, 10:23 am |
| Tax Rebate Humor | March 16, 2008, 8:12 pm |
| Tax rebate check | April 30, 2008, 2:59 pm |
| Tax Rebate Question? | May 5, 2008, 5:16 pm |
| Is NJ Homeowner Rebate taxable? | March 6, 2007, 5:44 am |
| NJ Real Estate Tax Rebate | November 22, 2007, 12:25 pm |
|
|
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap