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Author: mendomann Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19257  
Subject: Rebate Check Date: 5/5/2008 3:20 PM
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Anyone get their rebate check yet?

You can check the status at the following link:

https://sa1.www4.irs.gov/irfof/IRServlet?app=IRACTC
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Author: ibnana Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12973 of 19257
Subject: Re: Rebate Check Date: 5/5/2008 11:54 PM
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Ours should have been in the first group for direct deposit, but the site couldn't give an answer and it has not appeared in our account.

I had entered the routing info on the 1040 as if we were getting a refund, but actually we had to pay more, so I don't know if the direct deposit info got picked up.

Carol

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Author: NevadaGolfer Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12974 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 12:35 AM
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Mine appeared in my checking account on May 2nd just as expected.

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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12975 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 1:07 AM
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I had entered the routing info on the 1040 as if we were getting a refund, but actually we had to pay more, so I don't know if the direct deposit info got picked up.

The IRS has said that if you e-filed and authorized direct debit of the balance due the stimulus payment will be by direct deposit. I should find out this week, since that's what I did and this is "my" week for the payment.

I've not been able to find anything definitive at the IRS site about what will happen if bank information was entered on the 1040 but the balance due was paid by check or EFTPS.

Phil

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Author: billjam Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12976 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 8:52 AM
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I'm one of those who paid via EFTPS. I paid in early February. If I use the "Where's my refund?" inquiry on IRS site, it says my return was received and is still being processed. If I use the "Where's my stimulus payment?", it says they have no info on my rebate.

Based on SS#, I should be in the May 9 group. Since some have already been told they'll get their rebate on May 9, I'm guessing EFTPS payers aren't going to. What concerns me is why my return is still being processed and whether that's going to delay even a printed check.

Nothing unusual in my return this year except the use of EFTPS for the first time. I attached a copy of the online receipt to the return and verified that the payment was taken from my bank so I don't know why that would create a problem.

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Author: ResNullius Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12977 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 9:28 AM
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No rebate check for us, but I'm happy knowing that I've funded rebates for others.

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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12978 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 9:44 AM
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What concerns me is why my return is still being processed and whether that's going to delay even a printed check.

Refund returns get processed first, then unpaid balance due, and finally full-paid balance due. In the old days the target date for getting the last timely-filed return processed was around June 1. I would think that the target has moved earlier with e-filing, but I don't know any current specifics.

As I understand the stimulus payment process if your 2007 return hasn't posted by the time your SSN group is scheduled you'll get your stimulus payment a couple of weeks after your return posts.

Phil

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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12979 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 9:47 AM
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No rebate check for us, but I'm happy knowing that I've funded rebates for others.

And we thank you.

Not long after the stimulus payments were announced I was having dinner with two younger friends who are still involved in the hurly burly of the marketplace. When our drinks arrived I proposed a toast to Pennies from Congress, which was met with blank stares. It never occurred to me, but they make too much money to get the payment. Oops.

Phil

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Author: AngelMay Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12980 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 10:20 AM
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Not long after the stimulus payments were announced I was having dinner with two younger friends who are still involved in the hurly burly of the marketplace. When our drinks arrived I proposed a toast to Pennies from Congress, which was met with blank stares. It never occurred to me, but they make too much money to get the payment. Oops.

Phil

--------------------------------


How much money is too much money?

AM

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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12981 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 10:25 AM
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How much money is too much money?

$75,000 AGI for Single.

Phil

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Author: AngelMay Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12982 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 10:26 AM
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How much for married, filing jointly?

AM

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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12983 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 11:11 AM
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AM asks:

How much for married, filing jointly?

Exactly double that of a single filer, or $150,000.

Regards ... Pixy

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Author: AngelMay Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12984 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 11:13 AM
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AM asks:

How much for married, filing jointly?

Exactly double that of a single filer, or $150,000.

Regards ... Pixy

------------------------------


Ah.
Thank you very much for the information.

AM

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12985 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 11:17 AM
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Res: "No rebate check for us, but I'm happy knowing that I've funded rebates for others. "

No rebate check here, and I am NOT happy knowing that I've funded 'rebates' for others...some of whom didn't even pay $600 in taxes...

The debt (and my taxes) went up $180 billion for this gimmick...


t.

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Author: billjam Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12986 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 12:19 PM
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"Refund returns get processed first, then unpaid balance due, and finally full-paid balance due. In the old days the target date for getting the last timely-filed return processed was around June 1. I would think that the target has moved earlier with e-filing, but I don't know any current specifics.

As I understand the stimulus payment process if your 2007 return hasn't posted by the time your SSN group is scheduled you'll get your stimulus payment a couple of weeks after your return posts.

Phil "


Guess I screwed myself. I reduced my last estimated payment a little, although I met the safe harbor requirements. Then a balanced mutual fund turned out to have a much lower % of qualified dividends than in past years and I ended up owing $37. If I'd left the est. payment alone, I'd have gotten a small refund via direct deposit and my rebate would be coming this week. And this kind of luck is why I don't buy lottery tickets.

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Author: arahfool Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12987 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 3:21 PM
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I have received mine but the amount was $638. I thought it would be $600 for me and $600 for DW (who is in a later group). No supporting documention has been received, just the eft deposit.

As someone who is retired and drawing SS, I thank my working friends everyday. As some did me during the 40+ years I 'contributed'.

arahfool

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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12988 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 3:58 PM
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I have received mine but the amount was $638. I thought it would be $600 for me and $600 for DW (who is in a later group). No supporting documention has been received, just the eft deposit.

As someone who is retired and drawing SS, I thank my working friends everyday. As some did me during the 40+ years I 'contributed'.


If you file a joint return you'll get but one payment, which would be issued in the group for the primary SSN shown on the return and in both your names.

A $638 stimulus payment should mean that your 2007 joint return showed $638 income tax after credits. As long as 2007 tax falls within the $600-$1200 minimum/maximum range, the payment is that exact figure.

Phil

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Author: Howie52 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12989 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 4:14 PM
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"If you file a joint return you'll get but one payment, which would be issued in the group for the primary SSN shown on the return and in both your names.

A $638 stimulus payment should mean that your 2007 joint return showed $638 income tax after credits. As long as 2007 tax falls within the $600-$1200 minimum/maximum range, the payment is that exact figure.

Phil "

^^^^^^^^^^^^^^^^^^^^^^

Why, it sounds like one o them guvrment systems don't it?

Howie52
Tongue firmly in cheek.

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Author: ChurchyLaFemme Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12990 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 4:34 PM
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Ours is coming on the 9th.

All this means is that I withdraw less money from the IRA for a month. Whoopee!.

Personally, I think the whole thing was a stupid idea.

Now, both McClain and Clinton are proposing a "holiday" from the Federal gas tax this summer. Fortunately, this appears to be a non-starter as it's rather a stupid idea as well.

Churchy

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Author: arahfool Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12991 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 4:48 PM
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I have received mine but the amount was $638. I thought it would be $600 for me and $600 for DW (who is in a later group). No supporting documention has been received, just the eft deposit.

As someone who is retired and drawing SS, I thank my working friends everyday. As some did me during the 40+ years I 'contributed'.
arahfool


If you file a joint return you'll get but one payment, which would be issued in the group for the primary SSN shown on the return and in both your names.

A $638 stimulus payment should mean that your 2007 joint return showed $638 income tax after credits. As long as 2007 tax falls within the $600-$1200 minimum/maximum range, the payment is that exact figure.

Phil


As with most of what I have read about this, I mis-understood what we would receive but this amount does match line 44 on the 1040. That would have been the simplest explanation. Typical government speak I guess. Can't complain about 'free' monies though.

Thanks for the clarification.

arahfool

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Author: AngelMay Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12992 of 19257
Subject: Re: Rebate Check Date: 5/6/2008 8:07 PM
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As with most of what I have read about this, I mis-understood what we would receive but this amount does match line 44 on the 1040. That would have been the simplest explanation. Typical government speak I guess. Can't complain about 'free' monies though.

Thanks for the clarification.

arahfool

-------------------------



Oy. They've got YOU fooled.
Nothing is free.

AM

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Author: DorothyM Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12993 of 19257
Subject: Re: Rebate Check Date: 5/7/2008 10:34 AM
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I filed for an extension -- will complete and file my returns in July (after I return from Quebec). When I get my rebate it will go into my travel account to help pay for my trip to Venice and Paris in December.

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