Economic Stimulus Payment

[Sabine]

I got a letter this morning from the IRS in regards to the rebate check. Yes, they felt it necessary to send out another letter, " understanding your economic stimulus payment " what a waste of taxpayers money. Anway what I wanted to share is this, it is stated in the letter that and I quote " You will NOT be required to report the amount of your stimulus payment as taxable income in your 2008 federal income tax return. "
I know we had dicussion about this on this board, so I thougt I share this with all of you, straight from the horses mouth so to speak, this is not taxable next year.

[krubinic]

Thanks for the info Sabine. We have yet to receive ANY letters whatsoever in our household. Although one of my DS's did receive his direct deposit payment about a week ago. The other DS said he should be getting his this coming Friday. DD hasn't gotten hers yet either, but it should be soon. DH and I, however, for the first time in 25 years since having children had to pay the IRS this year due to no more deductibles........so we probably won't be getting ours for quite awhile yet.

In a nutshell, isn't it just so swell and dandy of the IRS to grant us this little gem not to have to claim the reimbursement in our 2008 taxes. Gee golly and gosh..........JMHO, what DH and I had to pay out in taxes this year, we will just be breaking even on this one. I've been saying all along, the IRS is just giving the citizens of America back what was ours to begin with!!!!

[chop]

no irs tax, but i have heard it can be taxable as a state tax.

[Huffle]

Good thing Texas has no state tax then. I love it.

Huffle

[Sabine]

no irs tax, but i have heard it can be taxable as a state tax.

That wasn't not addressed in the letter. And like Huffle said, Texas doesn't have state income tax, so no worry for those of us who live in Texas or other states with no state tax.

[TxRogue]

god bless texas, lol

[mew]

We not only have a state tax but a county tax on top of that.

[krubinic]

Well PA certainly has state tax......PA taxes EVERYTHING!

[TxRogue]

mew, just move here, our sales taxes and stuff are high,but for the most part im happy.

[mew]

mew, just move here, our sales taxes and stuff are high,but for the most part im happy.

I appreciate the endorsement, BUT it would definitely be too warm for me. Even as I've aged, I still prefer cold temps to hot, particularly since here in the mid-Atlantic "hot" is always accompanied by humid.

[DinDin]

I never received a letter either.

[Kayce]

I haven't received that letter, butI do know the state of Alabama is talking about taxing ours. I already pay them enough.