Great Info Tips

A friend emailed me rather upset that she had to claim the rebate check she received in 2008. I told her I would check this information as I was under the impression that the rebate would not be taxed. She said she had her taxes done professionally and the report was the rebate information had to be entered. That is true, but she was wrong in saying it was taxed.

I found a very interesting website King5.com which told me the information I wanted to know. You are not to list the rebate amount as income. According to the IRS about 15% of the people who have already sent their taxes into the government have included the rebate as income. This may delay a refund. Mistakes can lead filers to pay higher taxes or claim smaller refunds than they are entitled to. The IRS does want to know if you received the stimulus rebate, how much you received, and if you are eligible for a tax credit on your 2008 taxes. That is the main reason for asking about the stimulus rebate check. If you have any questions you can call the IRS at 1-866-234-2942 or you can go to the IRS Web site.