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Happy Tax Day - 4/15/2008 5:43:27 PM   
Joram

 

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The day of reckoning is upon us again. Before you get too cozy spending the forthcoming tax rebate though, realize that you might have to give it back next year if you are getting a refund next year! Friendly word of advice as a surprising amount of people around my office weren't aware of that.
Post #: 1
RE: Happy Tax Day - 4/15/2008 5:48:13 PM   
Gem35


Posts: 3420
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From: Dallas, Texas
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you can thank the democrats for that

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Post #: 2
RE: Happy Tax Day - 4/15/2008 5:52:56 PM   
LitFuel


Posts: 272
Joined: 10/21/2006
From: Syracuse, NY
Status: offline

quote:

ORIGINAL: Joram

The day of reckoning is upon us again. Before you get too cozy spending the forthcoming tax rebate though, realize that you might have to give it back next year if you are getting a refund next year! Friendly word of advice as a surprising amount of people around my office weren't aware of that.



I don't think that is exactly true. From what I have read it has nothing to do with next years refund.

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Post #: 3
RE: Happy Tax Day - 4/15/2008 6:27:13 PM   
JAMiAM

 

Posts: 6165
Joined: 2/8/2004
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quote:

ORIGINAL: Gem35

you can thank the democrats for that

Let's leave politics at the door, shall we? Besides, this case is truly a bipartisan abomination.

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Post #: 4
RE: Happy Tax Day - 4/15/2008 6:29:11 PM   
Joram

 

Posts: 3198
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Well, I know I found a clearer answer before but can't seem to find it.  In fact, I seem to find contradicting information.

http://digits.hrblock.com/taxrebate/  This says it is a "pre-bate"

While this says it isn't.

http://www.msnbc.msn.com/id/23212045/

And the IRS site is conveniently mum on the affect it will have next year.  Will research it more!

One new thing I did learn is that if for some reason you don't qualify today for any of the amount, they recalculate it next year and if you qualify then, you will get the rebate (or incremental amount.

(in reply to LitFuel)
Post #: 5
RE: Happy Tax Day - 4/15/2008 6:30:32 PM   
Gem35


Posts: 3420
Joined: 9/12/2004
From: Dallas, Texas
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quote:

ORIGINAL: JAMiAM


quote:

ORIGINAL: Gem35

you can thank the democrats for that

Let's leave politics at the door, shall we? Besides, this case is truly a bipartisan abomination.

lighten up, it was a joke, just like this thread.

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Post #: 6
RE: Happy Tax Day - 4/15/2008 6:54:37 PM   
panzers

 

Posts: 628
Joined: 5/19/2006
From: Detroit Mi, USA
Status: offline
I work for the IRS. If you are talking about the Stimulous payment, yes that will be taxable and under luxeries, so, yes, you are correct on your assumption. But with $600 or $1200 if your married, it shouldn't amount for all that much. Maybe $50-$60 at the very most depending on you're income and there will be additional deductions next year, so it could actually balance out. In short, I wouldn't worry too much about it. Everyone should be fine.

(in reply to Gem35)
Post #: 7
RE: Happy Tax Day - 4/15/2008 7:01:34 PM   
PunkReaper


Posts: 1085
Joined: 8/23/2006
From: England
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If I post my tax return, how much do you charge to check it over.....Do I have to declare my secret Swiss bank account?

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Post #: 8
RE: Happy Tax Day - 4/15/2008 7:28:11 PM   
Joram

 

Posts: 3198
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Har har har.  Anyway, I recant my knowledge about the rebate check itself lol as even more research makes it more confusing so like most of the rest of us, I don't know what the hell is going on with that.  :)

Not even the news organizations lol.
http://newsbusters.org/blogs/noel-sheppard/2008/02/08/cnn-deletes-line-about-tax-rebates-being-advance

(in reply to PunkReaper)
Post #: 9
RE: Happy Tax Day - 4/15/2008 8:08:56 PM   
Goblin


Posts: 5547
Joined: 3/29/2002
From: Erie,Pa. USA
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From the IRS website:

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

quote:

Q. Is my Stimulus Payment taxable?

A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.

Q. If my Stimulus Payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?

A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [Added 4/11/08]

Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?

A. No, the Stimulus Payment will not reduce your refund or increase the amount you owe when you file your 2008 return.



Goblin


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Post #: 10
RE: Happy Tax Day - 4/15/2008 8:19:30 PM   
andym


Posts: 1117
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From: Kings Lynn UK
Status: offline
Well if you pay it you have to be earning it!!!

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Post #: 11
RE: Happy Tax Day - 4/15/2008 8:26:29 PM   
Erik Rutins

 

Posts: 34510
Joined: 3/28/2000
From: Vermont, USA
Status: online
Did you see our gift on the front page?

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Post #: 12
RE: Happy Tax Day - 4/15/2008 8:30:31 PM   
Goblin


Posts: 5547
Joined: 3/29/2002
From: Erie,Pa. USA
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quote:

ORIGINAL: Erik Rutins

Did you see our gift on the front page?


I did now! That sounds like Tax Relief to me..

Thanks guys!




Goblin


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Post #: 13
RE: Happy Tax Day - 4/15/2008 8:36:19 PM   
Goblin


Posts: 5547
Joined: 3/29/2002
From: Erie,Pa. USA
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Wow - FanGaming had a really great d/l rate!



Goblin

< Message edited by Goblin -- 4/15/2008 8:37:05 PM >


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Post #: 14
RE: Happy Tax Day - 4/15/2008 8:44:23 PM   
Goblin


Posts: 5547
Joined: 3/29/2002
From: Erie,Pa. USA
Status: offline
Erik and/or Alex - PM on the way.



Goblin

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Post #: 15
RE: Happy Tax Day - 4/15/2008 9:26:35 PM   
panzers

 

Posts: 628
Joined: 5/19/2006
From: Detroit Mi, USA
Status: offline

quote:

ORIGINAL: Goblin

From the IRS website:

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

quote:

Q. Is my Stimulus Payment taxable?

A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.

Q. If my Stimulus Payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?

A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [Added 4/11/08]

Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?

A. No, the Stimulus Payment will not reduce your refund or increase the amount you owe when you file your 2008 return.



Goblin


Just remember who is president now. Trust me, I know from talking with the inside people here, and it isn't from just one person. I'm not an agent or an auditor, but there is much that I do know and that has been very much talked about around here. That is very unfortunate that our gov't fukks us over like that.
I'm sure it will be in sthe typical subtle fashion just so they can cover they're collective arses.
I hear a lot of things here that the general public would never know, and for obvious reasons, can't reveal them, much less a public forum.
I guess we will all find out next year, but if you should happen to see a little add on next year, just remember, I told you so.

(in reply to Goblin)
Post #: 16
RE: Happy Tax Day - 4/15/2008 9:40:04 PM   
Jeffrey H.


Posts: 3154
Joined: 4/13/2007
From: San Diego, Ca.
Status: offline

quote:

ORIGINAL: panzers


quote:

ORIGINAL: Goblin

From the IRS website:

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

quote:

Q. Is my Stimulus Payment taxable?

A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.

Q. If my Stimulus Payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?

A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [Added 4/11/08]

Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?

A. No, the Stimulus Payment will not reduce your refund or increase the amount you owe when you file your 2008 return.



Goblin


Just remember who is president now. Trust me, I know from talking with the inside people here, and it isn't from just one person. I'm not an agent or an auditor, but there is much that I do know and that has been very much talked about around here. That is very unfortunate that our gov't fukks us over like that.
I'm sure it will be in sthe typical subtle fashion just so they can cover they're collective arses.
I hear a lot of things here that the general public would never know, and for obvious reasons, can't reveal them, much less a public forum.
I guess we will all find out next year, but if you should happen to see a little add on next year, just remember, I told you so.



Makes me even happier about it all. I don't get smack because my wife and I make too much $$. Imagine that, two people working their @sses off, not blowing all their home equity on useless snot, not blowing al their money on SUV's and worthless consumer items, buying with savings and no credit debt. Since when does a wage earning slave like me, bottom of the org chart loser, trading time and life for $$ for the great corporate machine become the target of additional taxation ?

And we get to pay for all the people who don't do squat all day to have some extra $$ off their tax liability.

Now, according to your last hints here, we'll get to pay for it again next year ! Oh great.

I really want to get up at 5:30 am again tomorrow to come to work.....


(in reply to panzers)
Post #: 17
RE: Happy Tax Day - 4/15/2008 10:34:33 PM   
Gem35


Posts: 3420
Joined: 9/12/2004
From: Dallas, Texas
Status: offline

quote:

ORIGINAL: Jeffrey H.


quote:

ORIGINAL: panzers


quote:

ORIGINAL: Goblin

From the IRS website:

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

quote:

Q. Is my Stimulus Payment taxable?

A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.

Q. If my Stimulus Payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?

A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [Added 4/11/08]

Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?

A. No, the Stimulus Payment will not reduce your refund or increase the amount you owe when you file your 2008 return.



Goblin


Just remember who is president now. Trust me, I know from talking with the inside people here, and it isn't from just one person. I'm not an agent or an auditor, but there is much that I do know and that has been very much talked about around here. That is very unfortunate that our gov't fukks us over like that.
I'm sure it will be in sthe typical subtle fashion just so they can cover they're collective arses.
I hear a lot of things here that the general public would never know, and for obvious reasons, can't reveal them, much less a public forum.
I guess we will all find out next year, but if you should happen to see a little add on next year, just remember, I told you so.



Makes me even happier about it all. I don't get smack because my wife and I make too much $$. Imagine that, two people working their @sses off, not blowing all their home equity on useless snot, not blowing al their money on SUV's and worthless consumer items, buying with savings and no credit debt. Since when does a wage earning slave like me, bottom of the org chart loser, trading time and life for $$ for the great corporate machine become the target of additional taxation ?

And we get to pay for all the people who don't do squat all day to have some extra $$ off their tax liability.

Now, according to your last hints here, we'll get to pay for it again next year ! Oh great.

I really want to get up at 5:30 am again tomorrow to come to work.....



Yea, I make even more money than you jeffrey h, and I pay everything with pure cash too.
disgusting, isn't it?

_____________________________

It doesn't make any sense, Admiral. Were we better than the Japanese or just luckier?


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Post #: 18
RE: Happy Tax Day - 4/15/2008 10:52:51 PM   
JAMiAM

 

Posts: 6165
Joined: 2/8/2004
Status: offline
Gee...you guys almost make me feel guilty for having the State of California and the Feds both returning ALL my withholdings, plus an additional $787.63.

Almost...

(in reply to Gem35)
Post #: 19
RE: Happy Tax Day - 4/15/2008 11:36:41 PM   
Arctic Blast


Posts: 1168
Joined: 4/4/2007
Status: offline
Well, up here in the Great White North, most of us have already been done with this for quite some time. and, just to be a showy bastard, I will tell all that I got $1400 back.

If it makes you feel better, I then had to sink about $600 of that back in to getting my stupid car fixed.

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Post #: 20
RE: Happy Tax Day - 4/16/2008 12:15:06 AM   
Sarge


Posts: 2841
Joined: 3/1/2003
From: ask doggie
Status: offline

quote:

ORIGINAL: Erik Rutins

Did you see our gift on the front page?


Yes I did, I always wanted to give TWE a go


Thanks guys

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Post #: 21
RE: Happy Tax Day - 4/16/2008 6:22:57 AM   
Jeffrey H.


Posts: 3154
Joined: 4/13/2007
From: San Diego, Ca.
Status: offline

quote:

ORIGINAL: Gem35


quote:

ORIGINAL: Jeffrey H.


quote:

ORIGINAL: panzers


quote:

ORIGINAL: Goblin

From the IRS website:

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

quote:

Q. Is my Stimulus Payment taxable?

A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.

Q. If my Stimulus Payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?

A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [Added 4/11/08]

Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?

A. No, the Stimulus Payment will not reduce your refund or increase the amount you owe when you file your 2008 return.



Goblin


Just remember who is president now. Trust me, I know from talking with the inside people here, and it isn't from just one person. I'm not an agent or an auditor, but there is much that I do know and that has been very much talked about around here. That is very unfortunate that our gov't fukks us over like that.
I'm sure it will be in sthe typical subtle fashion just so they can cover they're collective arses.
I hear a lot of things here that the general public would never know, and for obvious reasons, can't reveal them, much less a public forum.
I guess we will all find out next year, but if you should happen to see a little add on next year, just remember, I told you so.



Makes me even happier about it all. I don't get smack because my wife and I make too much $$. Imagine that, two people working their @sses off, not blowing all their home equity on useless snot, not blowing al their money on SUV's and worthless consumer items, buying with savings and no credit debt. Since when does a wage earning slave like me, bottom of the org chart loser, trading time and life for $$ for the great corporate machine become the target of additional taxation ?

And we get to pay for all the people who don't do squat all day to have some extra $$ off their tax liability.

Now, according to your last hints here, we'll get to pay for it again next year ! Oh great.

I really want to get up at 5:30 am again tomorrow to come to work.....



Yea, I make even more money than you jeffrey h, and I pay everything with pure cash too.
disgusting, isn't it?


I don't get it. I mean I'm not a wealthy person. We're, as Ben Stien put it "Still eating at Taco Bell" and this is from a "Republican" presidency. Geez, we're way off track these days.


(in reply to Gem35)
Post #: 22
RE: Happy Tax Day - 4/16/2008 7:36:52 AM   
IronWarrior


Posts: 798
Joined: 2/2/2008
From: Beaverton, OR
Status: offline
Well in the spirit of tax day, albeit an unpopular day to be sure, I thought I would chime in. Let us remember the words (engraved in stone at the top of the IRS HQ) of Oliver Wendell Holmes Jr.: "Taxes are what we pay for civilized society."

Not just words, the Supreme Court justice (1902-1932) left his entire estate of one million dollars to the US government.

While todays corporate tyrants hide behind off shore accounts, loopholes in the tax code, threats to shut down operations and move to China, get bailed out by taxpayer dollars when their own corruption and greed tanks the company, and reveive subsidized handouts paid for by the same taxpayers... perhaps one day people will hold them accountable, and ask only that they pay SOME sort of taxes at the least.

Sic semper tyrannis

(in reply to Joram)
Post #: 23
RE: Happy Tax Day - 4/16/2008 7:49:48 AM   
Sarge


Posts: 2841
Joined: 3/1/2003
From: ask doggie
Status: offline

quote:

ORIGINAL: panzers

Just remember who is president now. Trust me, I know from talking with the inside people here, and it isn't from just one person. I'm not an agent or an auditor, but there is much that I do know and that has been very much talked about around here. That is very unfortunate that our gov't fukks us over like that.
I'm sure it will be in sthe typical subtle fashion just so they can cover they're collective arses.
I hear a lot of things here that the general public would never know, and for obvious reasons, can't reveal them, much less a public forum.
I guess we will all find out next year, but if you should happen to see a little add on next year, just remember, I told you so.


Nevermind

I’ll be good..........




< Message edited by Sarge -- 4/16/2008 7:50:06 AM >


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Post #: 24
RE: Happy Tax Day - 4/16/2008 10:05:03 AM   
JudgeDredd


Posts: 8564
Joined: 11/14/2003
From: Scotland
Status: offline
lol.....good boy Sarge 

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Post #: 25
RE: Happy Tax Day - 4/16/2008 12:52:41 PM   
Erik Rutins

 

Posts: 34510
Joined: 3/28/2000
From: Vermont, USA
Status: online
We're veering in the political direction here folks, let's keep away from that please. Taxes are a certainty regardless who's in office, I've lived long enough to know that!

_____________________________


Erik Rutins
Director of Product Development




For official support, please use our Help Desk: http://www.matrixgames.com/helpdesk/

Freedom is not Free.

(in reply to JudgeDredd)
Post #: 26
RE: Happy Tax Day - 4/16/2008 10:15:12 PM   
KG Erwin


Posts: 8981
Joined: 7/25/2000
From: Cross Lanes WV USA
Status: offline
Folks, I work for the West Virginia state tax dept, and keep this in mind: if you OWE money, April 15 is the deadline to file and pay in full. After this date, you are liable for late file/late paid penalties/additions.

Here's a fact that many folks aren't aware of: if you are due a REFUND, there's a 3-year statute of limitations in filing. So, anyone who is due a refund for tax year 2007 has until April 15, 2011 to file. Otherwise, you are out of luck, unless you previously applied for an extension of time to file.

Here's the catch: if you OWE money, and neglect to pay, that statute of limitations does not exist.

I didn't mean to post to offer tax advice, but your state tax agency (or the IRS) can help you out if you're in a bind. Don't be afraid to call.

(in reply to Erik Rutins)
Post #: 27
RE: Happy Tax Day - 4/16/2008 11:25:17 PM   
Gem35


Posts: 3420
Joined: 9/12/2004
From: Dallas, Texas
Status: offline
Yep, the IRS is worse than the mob when it comes to collecting and charging interest rates. What an embarassment to this fine country that institution has become.

< Message edited by Gem35 -- 4/16/2008 11:26:18 PM >


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It doesn't make any sense, Admiral. Were we better than the Japanese or just luckier?


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Post #: 28
RE: Happy Tax Day - 4/17/2008 3:42:05 AM   
panzers

 

Posts: 628
Joined: 5/19/2006
From: Detroit Mi, USA
Status: offline

quote:

ORIGINAL: Gem35

Yep, the IRS is worse than the mob when it comes to collecting and charging interest rates. What an embarassment to this fine country that institution has become.

Well, as I'm sure KG can attest to, you don't know what we see. Part of the reason this country is struggling right now is because the tax evasion is mind boggling, like hundreds of billions of dollars.
As hard as it may be to believe, the IRS is very lenient. Sometimes several years are tolorated for people who are delinquent on their taxes, or even evading them.

(in reply to Gem35)
Post #: 29
RE: Happy Tax Day - 4/17/2008 7:55:55 PM   
andym


Posts: 1117
Joined: 7/12/2006
From: Kings Lynn UK
Status: offline
i beleive Mr wesley Snipes didnt have a good Tax Day!!!!

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Post #: 30
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