No I don't think it is like that. The $600 is not going to be treated as anything. It is YOUR money that you have overpaid to the gov or will overpay in withholding amounts due to the changes in the 10%tax bracket. So the $600 is already taxed income that has been sent to the gov for withholding for 2001 taxes. The gov is get this sacrificing the interest on this money in order to stimulate the economy. Therefore you are not going to get $600 richer come july. You are merely keeping more of the money you have already earned.
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