Oh Good. They Are Mailing Out Warnings That Your Stimulus Payment Is Coming

[orleans]

i got my warning today.

the amount of the payment? not $300 or $600.

some ?random? fucking number between $570 and $599. where do they get these fucking numbers from? am i paying taxes on my check?

and next year when i go to file my taxes they will say, "no, you get $600 refund less because you got your "stimulus payment" and i'll say "since when do we have to pay taxes on a fucking tax refund" and then they will put me in jail for being such a bitch.

[dkf]

1. You must make too much money to get the whole thing.

http://www.irs.gov/newsroom/article/0,,id=179181,00.html

Phase Out: The stimulus payment –– both the basic component and the additional funds for qualifying children –– begins to phase out for individuals with adjusted gross incomes (AGI) over $75,000 and married couples who file a joint return with AGI over $150,000. The combined payment is reduced by 5 percent of the income above the AGI thresholds.

Here are two examples of how the phase out works:

*
An individual with AGI of $80,000 and federal income tax liability in excess of $600 would qualify for a basic rebate of $600. Because this individual’s AGI exceeds $75,000, however, her rebate is reduced by $250 (the credit is reduced by multiplying the amount of AGI over $75,000 by 5%). The taxpayer receives an economic stimulus payment of $350.
*
A married couple with two children, AGI of $160,000 and federal income tax liability before the child tax credit exceeding $1,200 qualifies for a basic rebate of $1,200 and an additional qualifying child credit of $600 for a total rebate of $1,800. But because the couple’s AGI exceeds $150,000, their rebate is reduced by $500 (the amount of AGI over $150,000 multiplied by 5%). The couple receives an economic stimulus payment of $1,300.

[orleans]

7. my income was less than 10,000 above poverty level.

i had no idea i made "too much" (lol!)

[gatorboy]

2. I was wondering about the tax thing myself.

It sounded like other folks who recieved theirs had taxes taken out.(???)

[HereSince1628]

3. I think my letter said it wasn't going to be taxable income.

I got nearly 50% more than I had expected...I can't explain it either.

[tridim]

4. Are you residing in a red state by chance?

[orleans]

5. LOL! (no shit. or a "swing" state?) n/t

[HereSince1628]

8. LOL I reading in Jimmy Sensenbrenner's district. n/t

[bigwillq]

6. Mine came today.

$600. It went right in the bank.

[kentuck]

9. Hey! Mine too.

I scanned it and made it my wallpaper. :-)