Refund question for the "informed"

[Senor Capper]

I hear about everyone getting a tax refund or whatever its called.
How come some people aint getting one ?
Like me

I've been a good boy

Lanny

 

[loophole]

sc, believe that the refunds are being sent out in stages with the order being determined by your social security number. luck of the draw - ain't that always the story?

 

[goofy]

Hey SC,

He's right. Here's the schedule
<a href="http://www.irs.gov/ind_info/apinfo/index.html#TimeFrame">http://www.irs.gov/ind_info/apinfo/index.html#TimeFrame</a>

 

[sweatbet]

goofy, Thank you for listing that site, I have moved since filing my return, and have not receieved anything from IRS about my refund. That site gave me the info. I needed to notify IRS and get my refund.

 

[Senor Capper]

I was sent something in the mail stating I don't get kaakaa


Anywayz is says the following:

According to the info on your 2000 fed tax return you either did NOT pay taxes
(which I didn't)
or did not have taxable income ( I wish)

Therefore you will NOT be recieving a check at this time.

What the *&$@ over

 

[djv]

Senor if you would have voted for JR you would have got one. They know what you did.

 

[BobbyBlueChip]

It's a return of taxes that were paid last year, so if you didn't pay any taxes, you get no refund.

Can't wait to stick my $300 bribe down a stripper's g-string. Thank God it's going there instead of wasting away in a government program that provides food and shelter to those without.

 

[Senor Capper]

Bobby,
Thanks.......I think

 

[Senor Capper]

Also thanks to the rest of you

and NO i didn't vore for JR my bad

 

[raz19]

me too!!! hey i need the bucks to make a move . come on refund!!!!

 

[JSMOOTH]

Originally posted by BobbyBlueChip:
It's a return of taxes that were paid last year, so if you didn't pay any taxes, you get no refund.

Unless I'm misunderstanding this.....
It's actually an advance on next years return....which, by the way you will have to claim.

 

[ctownguy]

JS - Don't think so, it is just a rebate on the taxes paid, that is why those who did not pay any tax will not receive a check.

You do NOT claim it next year as income.

 

[JSMOOTH]

ctownguy...
I beg to differ....I'll see if I can dig it up, for proof.

I got 600.00 this year. Thats 600.00 less that I will get on next years return. So, basically, I'll be claiming that as income.

IT IS NOT A REFUND FROM LAST YEAR
It is an advance on next years return. It was intended to boost the sagging economy.

If you are one who usually has to pay taxes, and you received 3 or 6 hundred this year, you can bet your ass, thats 3 or 6 hundred more that you will pay next year.

[This message has been edited by JSMOOTH (edited 08-17-2001).]

 

[ctownguy]

JS

I'm as cynical as the next guy, but you have this ass backwards. These tax rebates are from the surplus of Gov tax money paid by Americans last year.

It is OUR money that we overpaid to the gov. It has nothing to do with next year.

If we were to pay more next year as you contend to pay back what we got this year, the tax rates would have to go up and they are not, they are going down.

I'll admit it is not a whole hell of a lot, but it sure beats paying more taxes as the Democrats would like us to do. At least the current administration is trying to lessen the tax burden.

 

[JSMOOTH]

The Economic Growth and Tax Relief Reconciliation Act of 2001 approved by Congress and signed by President Bush directs the Treasury to send checks to most income taxpayers this year, giving them an advance payment of a 2001 tax credit. This is a reduction of tax and is not taxable income on the federal tax return.

ctownguy,
this was quoted from the IRS page. As I said, its an ADVANCE on your 2001 return.
It says its not "taxable income"...meaning that the check you get will not have taxes taken from it. BUT when you file next April, you will find a "special section" for the rebate amount you received in 2001, and I garantee, you will have to claim it!
Check out www.irs.com
This is not "our money that we overpaid the economy last year", and it has everything to do with next year!
BTW- This policy was the idea of the Democrats, Bush just singned it after congress passed it.


[This message has been edited by JSMOOTH (edited 08-17-2001).]