Apparently in IRS-land it makes sense to distribute it based on last 2 digits of SSN. That is just so something they WOULD come up with. (I want to know, is that based on my or my husband's SSN? We're in different groups!)
Posted by rivka (Member # 4859) on :
Who's first on your taxes?
Posted by ketchupqueen (Member # 6877) on :
Oh, I'm pretty sure it's him since he's the "primary" (only) wage earner. It's just not clear from their release. It makes a week difference in when we get it, though.
Posted by Pegasus (Member # 10464) on :
It does seem like a fairly even way to divide up a group, if that is the purpose.
Posted by Goody Scrivener (Member # 6742) on :
It's by the SSN of the first person listed on the return. And I agree, last two digits seems silly, but that's what they did last time as well.
Posted by ketchupqueen (Member # 6877) on :
Originally what I heard was that they were going to do it in order of when people filed their taxes-- which made more sense to me.
Posted by maui babe (Member # 1894) on :
Doing it by the last numbers of the SSN instead of the first prevents any accusations of regional favoritism I suppose.
Posted by cassv746 (Member # 11173) on :
Hmmm... No complaints from me.
Posted by King of Men (Member # 6684) on :
We have already gotten our federal money, having filed early. (Actually that seems odd now I think about it. But there's certainly a deposit from 'US Treasury' for the right amount in our bank account.) So are we going to get another one?
Posted by HollowEarth (Member # 2586) on :
Mostly likely, the moronic stimulus package is different from your refund.
Posted by ketchupqueen (Member # 6877) on :
Yeah, this is part of next year's refund.
Posted by ketchupqueen (Member # 6877) on :
(Do you have a SSN, though? I'm forgetting whether you get one if you don't have a SSN.)
Posted by andi330 (Member # 8572) on :
At least I had direct deposit for my refund. That means I'll be getting mine in May instead of July.
Posted by TL (Member # 8124) on :
How do we opt out?
Posted by ketchupqueen (Member # 6877) on :
You don't.
If you don't want to spend the money right away I guess you put it in the bank.
Posted by mr_porteiro_head (Member # 4644) on :
You can't.
Posted by TL (Member # 8124) on :
Our government is stupid.
Posted by ketchupqueen (Member # 6877) on :
How many years did it take you to figure that one out? Posted by Dagonee (Member # 5818) on :
quote:Apparently in IRS-land it makes sense to distribute it based on last 2 digits of SSN.
Why are people saying it's silly to do this based on last 2 digits of SSN? Assuming the capability does not exist to do it all at the same time, what method would be better than using the last 2 digits of the SSN?
Posted by ketchupqueen (Member # 6877) on :
Well, based on when you filed your return sounded reasonable to me. I don't REALLY have a problem, it just seems... kinda silly, I guess.
Posted by Dagonee (Member # 5818) on :
Using when you file your return has two problems:
1.) It's unknown now what the distribution time would be, because they don't know when people will file returns. There are benefits to publishing dates now to establish expectations.
2.) When you file your return is not a flat distribution. SSN either is evenly distributed (which I would expect) or any non-evenness is known and can be accommodated in setting the schedule.
It's not that I think you have a problem with it. I just don't understand what could be silly about it.
Posted by ketchupqueen (Member # 6877) on :
It just seems silly. Like when Emma used to laugh at the word jicama when she was really little. No real reason-- it just strikes me as silly.
Posted by ketchupqueen (Member # 6877) on :
(Oh, and the article I saw speculating on that DID have dates. I think, actually, it was based on when your initial refund was processed. So if your refund was processed in Feb., it would be there by May, etc.)
Posted by BandoCommando (Member # 7746) on :
I'm afraid I'm not certain I understand, so I want to be clear on this.
The economic stimulus package is a dollar amount that I get this year from the federal government, but I'm going to have to pay it back with next year's taxes (either because I will get a smaller refund, or no refund at all)?
Huh....I guess I'll put it into a CD or something...
edit: I just looked on the IRS Web Page to see if there was more information. It says:
quote: What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.
So....yea...nevermind.
Posted by ketchupqueen (Member # 6877) on :
No, you won't have to pay it back. And if you should have qualified for more because you make more this year than last or something, I do believe they've said they'll give it to you with next year's refund (though they may have changed their minds on that too.)
Posted by BandoCommando (Member # 7746) on :
We will be making more this year, since my wife will be in her first full year with a real teacher job (this last calendar year, she only got paid for 4 months plus some peanuts she earned as a grad assistant -- are peanuts considered taxable income?)
Hm....
Posted by ketchupqueen (Member # 6877) on :
quote:are peanuts considered taxable income?
Only if they have a monetary value of $400 or more.
Posted by Selran (Member # 9918) on :
quote:Originally posted by BandoCommando: plus some peanuts she earned as a grad assistant -- are peanuts considered taxable income?)
Hm....
Yes, you would owe taxes on the value of the peanuts you received.
Posted by ketchupqueen (Member # 6877) on :
But only if they have a value of $400 or more.
Posted by katharina (Member # 827) on :
Basing it on the last two digits makes perfect sense to me - it's fair, it's predictable, it's evenly distributed, and it's information easily found by both the IRS and the recipients.
Posted by ketchupqueen (Member # 6877) on :
That's true. It even makes sense.
And it still strikes me as silly.
Of course, I've been rather giggly lately.
Posted by ketchupqueen (Member # 6877) on :
(When I'm not extremely grumpy, yelling, and biting people's heads off, that is.)
Posted by Shigosei (Member # 3831) on :
My parents get no child credit because the three of us are over 18. We get no stimulus checks because, as college students, someone can claim us as dependents (it doesn't matter if anyone does, only that someone could, apparently).
I'm wondering where the logic is in that. If you want to stimulate the economy, you probably should make sure that college students get some extra money.
Posted by katharina (Member # 827) on :
I believe the logic is that when it is a "tax rebate," it generally goes to those who pay taxes.
Posted by Shigosei (Member # 3831) on :
Funny enough, plenty of those college students have jobs and pay taxes.
Posted by ketchupqueen (Member # 6877) on :
Actually, your parents don't get the credit 'cause you're over 16. Just to clarify. Posted by katharina (Member # 827) on :
quote:Funny enough, plenty of those college students have jobs and pay taxes.
Most get it all back already unless they are working fulltime at a job above minimum wage, so they pay in the meantime, but not much (if any) net.
Posted by MrSquicky (Member # 1802) on :
edit: post deleted because I'm just not in the mood.
Posted by cassv746 (Member # 11173) on :
Wait...so being a college student and paying taxes this means the rebate doesn't apply to me? If that is true why did I get that letter from the IRS this past weekend explaining what the Stimulus was and how much one should receive?
Posted by katharina (Member # 827) on :
It may or may not apply to you. You can use this online calculator to check: http://www.irs.gov/app/espc/ Posted by cassv746 (Member # 11173) on :
Ok, I will have to find out if my parent's claimed me as a dependent I guess. Can they claim me if I'm over 18? Sorry for all the questions. This tax stuff just goes right over my head.
Posted by ketchupqueen (Member # 6877) on :
It doesn't actually matter if they did claim you, I don't think-- only if they can.
They can claim you if you're over 18, under most circumstances. (You're not married or over 25, are you?)
Posted by cassv746 (Member # 11173) on :
Nope, not married and not over 25. Oh well. I didn't really lose anything anyway, because I never had the stimulus to begin with.
Posted by katharina (Member # 827) on :
Those are not the only requirements of being claimed as a dependent - they also need to be paying more than 50% of your expenses. You can file on your own earlier than 25 if you truly are on your own.
(Since she implied she was a student I was assuming she was asking about students, and that her parents paid some of her expenses/tuition. )
Posted by cassv746 (Member # 11173) on :
Yep I'm a freshman in college. So I'm still heavily relying on my parents although I feel kinda bad doing that. I'm an "adult" by the law and should be able to take care of myself. But hey, I'll get there eventually. But still the gov handing out money is pretty cool.
Posted by lem (Member # 6914) on :
Is this rebate something that is automatic? We have friends who are in their 70s, and they got a letter from the government they had to fill out and send back to get the rebate.
We never got a letter, however we filed our taxes early and already got our return electronically.
Does this mean I will just get the rebate electronically (like the article suggests), or do I need to mail in additional info?
From the article it seems I will get it automatically. Our friends owned a small business they sold, so I am thinking they had to do something special. But I am a little confused.
Posted by ketchupqueen (Member # 6877) on :
If you filed a tax return you will get the rebate automatically.
The letters were aimed at people who may not usually file a return but may qualify for the rebate, because filing a return is the only way to get the rebate.
Posted by Shigosei (Member # 3831) on :
My brother has an internship that pays significantly above minimum wage. Additionally, scholarship money is taxable under certain circumstances. I didn't make enough last year to pay federal tax, so I wouldn't qualify anyway. But there are plenty of people who do, and it's odd to disqualify those people just because of dependency.
Posted by ClaudiaTherese (Member # 923) on :
Thanks for posting this, ketchupqueen.
Posted by BandoCommando (Member # 7746) on :
quote:Originally posted by Shigosei: Additionally, scholarship money is taxable under certain circumstances.
For instance, when scholarships exceed the cost of tuition and mandatory fees, the leftover money qualifies as income. I'm sure there are other examples, but that is the one that applied to me as an undergraduate.
Posted by Lyrhawn (Member # 7039) on :
I was listening to some DJs on the radio yesterday morning complain about how they got a notice in the mail about the prebate that didn't really tell them anything. They said the mailing (which I got) was incomprehensible and cost like $30 or $40 million dollars to send out. Now, I don't think it was incomprehensible. I find it hard to believe that anyone who has done their taxes or even looked at what their accountant has done for them can't figure out if they get a prebate or not. You look at your tax, look at how much you made, and your prebate is between $300 and $600 unless you are married, make too much (or too little) and if you have a qualifying child.
So while I disagree with them that it was impossible to understand, I do agree however that it was silly to send it out like that. It didn't really tell them anything that couldn't have been explained by the money just arriving in the mail or on their accounts one day. They also could have waited and included the SSN information about WHEN people will be getting their money (huzzah, May 9th for me!). I agree it was a waste of money in it's current form. Did everyone else get the little form that explains if they get a prebate or not?
Posted by ketchupqueen (Member # 6877) on :
Nope, didn't get it.
Posted by maui babe (Member # 1894) on :
I got it, but I agree that it was a waste.
Posted by CaySedai (Member # 6459) on :
On a related note, I've heard that there are already scammers calling people and claiming to be from IRS, asking for information so people can get their economic stimulus payments. Sad, isnt' it?
Posted by adfectio (Member # 11070) on :
quote:Originally posted by Shigosei: it's odd to disqualify those people just because of dependency.
It's also kinda frustrating for me. While I made at least the minimum amount needed, and I did pay taxes on those, I'm technically a dependent. Since my parents pay for my schooling.
Ugh. I put just as much into the economy as some others. I want free money!
[/pout]
Posted by katharina (Member # 827) on :
quote:I want free money!
Ask your parents.
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More importantly, this isn't free. It isn't coming from a money tree or a bottom-less pit. It is all our money, collected from us and being redistributed, but nothing from the government is ever free.
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