Bush fooled everybody!

[djackso]

People are thinking the tax rebate checks are refunds from 2000 when in fact the checks are advances from 2001 refunds so the government ain't giving away shit. Whatever your 2001 refunds will be there is a line on the back of the 1040 that subtracts your rebate check from your refund. The government wants you spend the check to improve the economy which makes it look like Bush is doing better than Clinton. I just popped in my old Paris tape with Bush Killa on it cause people are getting fooled. Bush think he slick.

[CLSmooove]

Is there a web site or an article that I can look up to read more about this????

[djackso]

Check out irs.com. I thought everyone knew but there are still some who don't know.

[HulaSista]

ain't that some shit?:mad:

[shtalker]

Yeah Djackson,
He Bitch ass had me fooled.

[misha]

Humph, call it a rebate, when what it is, is an advance, he got his damn nerve!

[Brightness]

I am quoting from the booklet. . . . .

If you received (before offset) an advance payment of your 2001 taxes equal to the amount shown below for your 2001 filing status, STOP. You cannot take the credit because you have received the maximun amount of the credit.

Excuse me, but I find two things majorly f*cked up.

[list=2]
Last year it was called a REBATE which we all know is something you get back for previously spending/buying, etc.

You weren't afforded the opportunity to choose for an ADVANCEMENT. . .they basically mailed you the damned check. . .that's some shit, right there.



[/list=2]

[que90nek]

i gotta look into this...

my understanding was that if you had not received your advance...that u could now claim it as a direct credit. the fact that u can not because you already got it...says nothing......hell that credit wasnt available in the past!

[Toffee]

I know they are flipping the script now.. Maybe it was intentionally a Rebate.. but now he need the money back..

[Brightness]

That's true but the fact remains is how did they decide last year who they would arbitrarily mail the checks too? I shouldn't qualify because I've paid for the last few years. . .the EIC doesn't benefit me at all becasue of my income, last year I think I got a credit of $48 dollars while other people can and do get $100's or $1000's.




Originally posted by que90nek+
i gotta look into this...

my understanding was that if you had not received your advance...that u could now claim it as a direct credit. the fact that u can not because you already got it...says nothing......hell that credit wasnt available in the past!

[Tastey]

Originally posted by que90nek+
i gotta look into this...

my understanding was that if you had not received your advance...that u could now claim it as a direct credit. the fact that u can not because you already got it...says nothing......hell that credit wasnt available in the past!

That was my understand also Que. If you didn't get it earlier, you can get it now. But if you did get it earlier, it doesn't reduce your refund amount.

[que90nek]

Originally posted by Brightness+
That's true but the fact remains is how did they decide last year who they would arbitrarily mail the checks too? I shouldn't qualify because I've paid for the last few years. . .the EIC doesn't benefit me at all becasue of my income, last year I think I got a credit of $48 dollars while other people can and do get $100's or $1000's.






u got a credit for what for $48?

[CLSmooove]

Originally posted by Tastey+
But if you did get it earlier, it doesn't reduce your refund amount.

Unfortunatly Tastey thats not true.... I just found out while doing my mother's taxes online that she will receive $97 less than whats she's supposed to get because that's how much she received for her "Rebate"....

Now I have to let her know and she aint gonna be too happy... Ya'll give me strength cause she's gonna go off and i gotta be the one to hear it....

[davinci]

seems dj and d will always seem to bump headz on politics...

1st - income tax returns are already your money. the gov't got a 0% interest loan from you. not bush or clinton or reagan or any one modern prez's fault. long time ago some tree huggin' commies tried to stick it to the rich and rich lawyers stuck it to everyone else. i laugh when folks talk about getting a big return. you could've had that money all year long. some say that they use it as a savings account. 0% vs 2-5% in a bank, or better yet...invest it. i digress.

2nd - politicians tell half lies. for you MBA/accounting types, define "credit." when cable companies and others say that you overpaid and have a credit, it means that on their books they owe you. same case here. your "credit" means that to IRS's (who maintains YOUR books) books, you owe them.

3rd - the idea behind the advance was to stimulate the economy. whether that happened is up to debate. but it was earlier described as an advance. that's why congress was trippin' because they feared it would throw the numbers off this year. they knew it was an advance. some spin doctor flipped or toyed with it's name, but a duck is a duck.

[PecanTan]

Now yall knew that white man wasn't going to be shit when he got in there, so I don't know why everybody is so surprised now. He got to pay for that war somehow, not to mention the 8.5% raise he just gave to the military. Not that I am mad they deserve it, they are the ones putting their lives on the line for us. But I am biased because I am retired military. :upretty

[Tastey]

Originally posted by CLSmooove+


Unfortunatly Tastey thats not true.... I just found out while doing my mother's taxes online that she will receive $97 less than whats she's supposed to get because that's how much she received for her "Rebate"....

Now I have to let her know and she aint gonna be too happy... Ya'll give me strength cause she's gonna go off and i gotta be the one to hear it....

I got $500 last summer. It did not reduce my refund amount at all. Because I only worked part of the year my refund includes everything I paid in, the full EIC credit, the full child credit. The ONLY credit I couldn't take was that one...because I already have it. Yes, had they not sent me a check I would get $500 more but as Que said the credit didn't exist last year. So it's still a new credit.

I didn't pay that $500 in, I could not claim it last year. Probably can't claim it next year.

I am no George Bush fan, but it was a new credit that you got an advance on. If there had been no rebate checks, there would be no new credit on your tax forms.

[que90nek]

that's what i was thinking tastey...

if the credit was not there last year....it wouldnt have been here this year except for the fact that the rebate checks went out...

gosh...maybe i got out the military too soon! shoulda stayed in and retired like pecan!

republican politics seem to think that the DEFICIT is a good thing!

we had a surplus...they took the surplus and squandered it with "rebate"/"advances"....and then 9/11 happened...and now they have stood up an entire new agency....HOMELAND DEFENSE....which makes contractors like ME happy...but ultimately gets paid for by YOU/ME.

[mystkev]

The rebate checks were given out b/c the tax rates were changed in July of 2001, the 10% tax rate was added, and the others were lowered. The checks were to make up for the taxes they took at the old rates Jan-June, so it actually was a rebate.

[Versatile]

Politricks do just that..trick yo azz from the start of their office run to the end of their term.

[que90nek]

Originally posted by mystkev+
The rebate checks were given out b/c the tax rates were changed in July of 2001, the 10% tax rate was added, and the others were lowered. The checks were to make up for the taxes they took at the old rates Jan-June, so it actually was a rebate.

thanks...

[davinci]

Originally posted by Versatile+
Politricks do just that..trick yo azz from the start of their office run to the end of their term. i wouldn't say "trick." it was right there in black and white. they bank on the mass stupidity factor.

[djackso]

Clinton proposed the tax cut & the check is not a rebate. You would have received the same amount of a tax refund just like you would have had you not have received a check. Bush just sent people a check to take their minds off of the election he stole. He didn't give us shit!

[davinci]

Originally posted by djackso+
Clinton proposed the tax cut & the check is not a rebate. You would have received the same amount of a tax refund just like you would have had you not have received a check. Bush just sent people a check to take their minds off of the election he stole. He didn't give us shit! and if you recalled, dems were like go for it when bill said it, and reps were like nah, now.... lesson learned: it matters not who's in the white house. it ain't a black and white issue; it's a have and have not issue.

[que90nek]

yeah i do recall that!

the republicans didnt want the democrats to look good and visa versa....because money in my pocket is GOOD...

but djackso is correct....its not a rebate because it's YOUR MONEY! they just changed the tax brackets midway through the year...(what mystkev said) and so ...you get some of YOUR money back!

[Tastey]

One of my church members who is an IRS agent did a seminar on this last week.

Myst is right about the tax brackets changing and it was indeed a rebate.

One interesting factor that he pointed out to all of those who has teenagers working this year and filing this year for the first time. They would receive the $300 rebate as well since it was money from last year's return and they did not file last year.

It brought my nephews return up to $371 dollars.

[Andre98]

...I dont know who he fooled.. I could of told you right off the whole thing is a sham. Ever since it caught on with Reagan, that Mr & Ms. America can be led by their noses if you promise them tax cuts above all else, just so you can counter the more realistic view by the Dems that shit cost money! It's the cornerstone of being a politician, "Give 'em what they want to hear"....