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US Government Targets Its Own Citizens In Massive Tax Rebate Fraud
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Anonymous Coward
User ID: 271607
2/9/2008 1:54 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Why would this suprise anyone. They did the exact same thing last time. Quoting: Anonymous Coward 77407
Yes I remember that. Had to pay it back on the next income tax check  |
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Anonymous Coward
User ID: 363523
2/9/2008 2:03 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
2 words Sorcha Faal  |
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Anonymous Coward
User ID: 369885
2/9/2008 2:08 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
IMBECILES. ignore SORCHA, read the OTHER articles.
This Sorcha article should NOT have been pinned, as it is a distraction which decreases the VALIDITY and CREDIBILITY of this report.
This is the greatest FRAUD perpetrated against the tax payers, use your BRAINS and read for yourselves and get OFF the Sorcha shit |
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jlazarus 
just me :)
User ID: 348904
2/9/2008 2:11 PM
 | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
So, if you don't get a refund on your 2009 taxes but, instead, have to pay taxes to the IRS in 2009, will you owe *back* the rebate/credit you received in 2008 -- on top of the rest of the taxes you owe? Anyone know?
Correct. If you owe taxes, you will have to pay back the "rebate" also. Imagine all the interest & penalties on $1200. Quoting: mopar28m
Nope, that is not correct. Let me try to explain why:
Suppose this week you buy groceries worth $100.
This same week next year, you will also buy groceries, also worth $100.
But this May, Walmart decides that they will discount the groceries next year by 10%. Only, they are going to give you that 10% right now.
1.) SO, you end up paying $100 for this week's groceries.
2.) You end up paying $100 for groceries this exact same week next year.
3.) But in May, Walmart sends you a check for $10.
This is the basically the idea of the rebate. To put it in tax terms, let's say you fall in the 25% bracket this year. 25% of your taxable income goes to the IRS.
You make about the same next year, so you would also fall into the 25% bracket.
HOWEVER, the congress decides to get rid of the 10% bracket, for next year only (one time cut) effectively bringing your rate down next year. But they are going to REBATE that difference to you TODAY.
So if you are in the 25% bracket this year and have enough withheld to get $500 back, and you don't change anything or have a significant change in your income, then you would be in the same boat next year ($500 back) because they are giving you the TAX CUT this May.
Now, if Congress DID NOT give you this check in May, but still authorized one time tax cut, and nothing else about your situation changed, then you would actually get MORE back next year. More, not less.
And the rebate is just the difference - paid right now. Get it?
Same holds true if you owe. I owe every year (more than the rebate). But as long as nothing significant changes in my income level, I will owe roughly the same this year as I will next year - only, I'll get a check in between.
The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. ~ Bertrand Russell
A great many people think they are thinking when they are merely rearranging their prejudices. ~ William James
I will accept any rules that you feel necessary to your freedom. I am free, no matter what rules surround me. If I find them tolerable, I tolerate them; if I find them too obnoxious, I break them. I am free because I know that I alone am morally responsible for everything I do. ~ Robert Heinlein |
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Deisi
User ID: 351254
2/9/2008 2:13 PM
 | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Is the MSM going to ever point this out? Quoting: Anonymous Coward 313654
 It's Sucha Fool garbage.
. |
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Anonymous Coward
User ID: 369278
2/9/2008 2:16 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
[link to www.irs.gov]
The IRS cautioned taxpayers to be on the lookout for scams involving proposed advance payment checks. Although the government has not yet enacted an economic stimulus package in which the IRS would provide advance payments, known informally as rebates to many Americans, a scam which uses the proposed rebates as bait has already cropped up.
This IRS considers the rebate to be an advance on taxes paid this year. They will adjust the tax tables to reflect this when you file taxes next year.
In NO WAY will you get back more. |
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Deisi
User ID: 351254
2/9/2008 2:17 PM
| | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
So, what happens in 2009 when you think you're getting a tax rebate and H&R Block laughs in your face? Quoting: ThinkingAmerican 370758
You're an idiot.
Congress has CUT the tax for THIS YEAR! But they're giving you the refund you SHOULD get (based on this NEW tax cut) now.
This 'refund' has NOTHING to do with any OTHER refund you'll still get next year when you file your 2007 taxes.
. |
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Anonymous Coward
User ID: 368999
2/9/2008 2:23 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
This is exactly how it is.
They are giving you MORE debt to excellerate the death of the dollar.
Most people will just spend it straight away.
By next year, they will owe even more and the majority of those who do already living day to day on a fine line. |
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Anonymous Coward
User ID: 103356
2/9/2008 2:30 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Jeez, I cannot believe this is pinned and that some of you have not understood this rebate yet.
What Congress has done is very simple. They are giving us a one time tax credit on our income for 2008. This credit would either increase your refund or lower the amount of tax you owe for 2008. But instead of having to wait until next year to get that, they are sending it out this year in the form of rebate checks. Next year you will still do your taxes the same as you do every year and it will not change a thing. You will still get the same refund or owe the same amount of tax that you would have without this tax credit. You do not have to pay the rebate back and it is not taxable.
Now, why is this so hard for some of you to grasp? |
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The Good Reverend Roger
User ID: 330206
2/9/2008 2:47 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Is the MSM going to ever point this out? Quoting: Anonymous Coward 313654
They didn't in 2000.
HORRIBLE BASTARD. |
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Anonymous Coward
User ID: 352521
2/9/2008 2:48 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Jeez, I cannot believe this is pinned and that some of you have not understood this rebate yet.
...............
Now, why is this so hard for some of you to grasp? Quoting: Anonymous Coward 103356
You haven't been coming here long, have you? |
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Anonymous Coward
User ID: 357707
2/9/2008 3:12 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Why not buy a gorvernment bond with money? Effectively lend it straight back to them with interest? Then, if this does tiurn out to be a government swindle you can always throw it back in their faces? |
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jarha
User ID: 366763
2/9/2008 3:14 PM
 | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Sucha Fool is starting to sound more and more like the Radio Moscow of old. Quoting: Anonymous Coward 330782
I THINK IT IS CALLED JEALOUSY
NOT EVERY COUNTRY ON THIS ROCK CAN
AND GIVE SO MUCH TO ITS CITIZEN
TO SPEND. RUSSIANS CAN'T AFFORD IT
SO THEY START TALK "BS" AROUND
From his Audacity of Hope; "Hi, I'm Barack Hussein Obama"
"I will stand with the Muslims should the political winds shift in an ugly direction."
~ BARACK HUSSEIN OBAMA, FROM DREAMS OF MY FATHER: STORY OF RACE & INHERITANCE
“OUR RAGE AT WHITE WORLD NEEDED NO OBJECT,
...
IT COULD BE SWITCHED ON AND OFF AT OUR PLEASURE.”
___________________________
There is no thing endowed with life - from man, who is enslaving the elements, to the nimblest creature - in all this world that does not sway in its turn. Whenever action is born from force, though it be infinitesimal, the cosmic balance is upset and the universal motion results. |
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Anonymous Coward
User ID: 369278
2/9/2008 3:19 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
You will still get the same refund or owe the same amount of tax that you would have without this tax credit. You do not have to pay the rebate back and it is not taxable. Quoting: Anonymous Coward 103356
NOT TRUE! If you normally get a tax refund of $1000, when you file next year it will only be $400 provided you make less than $75,000 at the time of the advance and receive a check for $600. |
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jarha
User ID: 366763
2/9/2008 3:22 PM
| | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Why would this suprise anyone. They did the exact same thing last time.
---------------------------------------------------------- ----
Yes I remember that. Had to pay it back on the next income tax check
YOU ARE IDIOT OR LIAR - PICK ONE -
From his Audacity of Hope; "Hi, I'm Barack Hussein Obama"
"I will stand with the Muslims should the political winds shift in an ugly direction."
~ BARACK HUSSEIN OBAMA, FROM DREAMS OF MY FATHER: STORY OF RACE & INHERITANCE
“OUR RAGE AT WHITE WORLD NEEDED NO OBJECT,
...
IT COULD BE SWITCHED ON AND OFF AT OUR PLEASURE.”
___________________________
There is no thing endowed with life - from man, who is enslaving the elements, to the nimblest creature - in all this world that does not sway in its turn. Whenever action is born from force, though it be infinitesimal, the cosmic balance is upset and the universal motion results. |
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Anonymous Coward
User ID: 343187
2/9/2008 3:23 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Sorry guys.. there's no such thing as a free lunch, sooner or later every one will have to pay for an illegal war. This is what happens when we let politicians write blank cheques..  |
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Anonymous Coward
User ID: 103356
2/9/2008 3:29 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
You will still get the same refund or owe the same amount of tax that you would have without this tax credit. You do not have to pay the rebate back and it is not taxable.
NOT TRUE! If you normally get a tax refund of $1000, when you file next year it will only be $400 provided you make less than $75,000 at the time of the advance and receive a check for $600. Quoting: Anonymous Coward 369278
If you normally get a $1,000 refund each year, with the one time tax credit you would get a $1,600 refund for 2008. You will get the $600 now and the normal $1000 next year.
Now if you normally owe $1,000 each year and you receive the $600 rebate, there are two things you can do. You can save that money and apply it to the $1,000 you owe next year. This would mean you only have to pay $400 out of your pocket instead of $1,000. Or you can spend it now and next year pay the $1,000 that you normally pay. |
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Rainy Day
User ID: 348319
2/9/2008 3:33 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Here's the MOST IMPORTANT part of this "rebate" that everyone is missing ...
If you cash your check, YOU ARE ENTERING INTO A CONTRACT WITH THE IRS, and that's the WHOLE POINT of this scam. It's designed to cut off the head of the anti-tax movement.
Think about it. Quoting: Anonymous Coward 350644
Yup, the Anti-Tax Movement was starting to get press, and Big Gov certainly doesn't want that happening.
Not paying taxes would be huge! No one likes them.
And isn't the gov't just giving you back your own money anyway? It's really quite sick.
While the Bush vetoes health care for children??
Time to organize the protest marches. While you still can. |
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^TrInItY^ 
Forum Administrator
2/9/2008 3:33 PM
 | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Guys, it's right there in the bill. It's not free money, it's a loan on your next return.
Who this is really going to hurt are the seniors that get a SS check. They will get what's normally a $500 or so dollar monthly check, will be an $800 check.
But come next month, their normally $500 check will be but a $300 check. You guys are being duped by thinking it's free money. Quoting: Anonymous Coward 369626
yup
he's right it's a loan
Few will listen,
Of the few who listen, fewer still will understand,
Understanding does not mean believe,
Of the handful who believe, most may not know what to do,
Those who even know, how many will actually do ?
And the rare ones who have done it.......
Need not listen to you anymore.
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Arcaneshift
User ID: 370891
2/9/2008 3:36 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Sucha Fool is starting to sound more and more like the Radio Moscow of old. Quoting: Anonymous Coward 330782
Your the fool if you don't see the element of truth in her statement there is some bull mixed in her posts sure but a lot of truth too you just need to learn to discern the sensationalism from the facts.
I might add that these rebates will be considered not only as an advance on nexts years income tax return , but are in fact to be counted as earned income and taxed again so not only are you taxed on the income that gave you the return but also the advance next years incometax. |
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Anonymous Coward
User ID: 273191
2/9/2008 3:38 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Jeez, I cannot believe this is pinned and that some of you have not understood this rebate yet.
What Congress has done is very simple. They are giving us a one time tax credit on our income for 2008. This credit would either increase your refund or lower the amount of tax you owe for 2008. But instead of having to wait until next year to get that, they are sending it out this year in the form of rebate checks. Next year you will still do your taxes the same as you do every year and it will not change a thing. You will still get the same refund or owe the same amount of tax that you would have without this tax credit. You do not have to pay the rebate back and it is not taxable.
Now, why is this so hard for some of you to grasp? Quoting: Anonymous Coward 103356
This is pretty much how it worked out for my family in 2001 with the first rebate. We filed our taxes in 01/2002 & received our usual refund in 02/2002. |
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Anonymous Coward
User ID: 103356
2/9/2008 3:48 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Guys, it's right there in the bill. It's not free money, it's a loan on your next return.
Who this is really going to hurt are the seniors that get a SS check. They will get what's normally a $500 or so dollar monthly check, will be an $800 check.
But come next month, their normally $500 check will be but a $300 check. You guys are being duped by thinking it's free money.
yup
he's right it's a loan Quoting: ^TrInItY^
I don't agree. This is how I see it. The following assumes you are a single individual and qualify for the $600 rebate.
If you normally get a $1,000 refund each year, with the one time tax credit you would get a $1,600 refund for 2008. You will get the $600 now and the normal $1000 next year.
Now if you normally owe $1,000 each year and you receive the $600 rebate, there are two things you can do. You can save that money and apply it to the $1,000 you owe next year. This would mean you only have to pay $400 out of your pocket instead of $1,000. Or you can spend it now and next year pay the $1,000 that you normally pay. |
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What's ItAllAboutAlfie
User ID: 245993
2/9/2008 3:55 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Federal Reserve, IRS. These are private corporations not government agencies. The royal scam continues. |
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Anonymous Coward
User ID: 370908
2/9/2008 4:15 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
If you have to file your income tax return in April then I don't see this as having anything to do with this years taxes because the rebate checks are not sent out until May.
I just wonder if this isn't a loan and the full amount has to be paid back plus taxes on that amount also. If thats the case then you could get $600 and have to pay back $630 dollars. |
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Anonymous Coward
User ID: 103356
2/9/2008 4:20 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
If you have to file your income tax return in April then I don't see this as having anything to do with this years taxes because the rebate checks are not sent out until May.
I just wonder if this isn't a loan and the full amount has to be paid back plus taxes on that amount also. If thats the case then you could get $600 and have to pay back $630 dollars. Quoting: Anonymous Coward 370908
They are only using your 2007 return to estimate your income and to determine the amount of children you are claiming.
What Congress has done is very simple. They are giving us a one time tax credit on our income for 2008. This credit would either increase your refund or lower the amount of tax you owe for 2008. But instead of having to wait until next year to get that, they are sending it out this year in the form of rebate checks. Next year you will still do your taxes the same as you do every year and it will not change a thing. You will still get the same refund or owe the same amount of tax that you would have without this tax credit. You do not have to pay the rebate back and it is not taxable. |
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135
User ID: 366259
2/9/2008 4:28 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Sucha Fool is starting to sound more and more like the Radio Moscow of old. Quoting: Anonymous Coward 330782
shes right,who cares what she sounds like. |
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Anonymous Coward
User ID: 370717
2/9/2008 4:37 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Sucha Fool is starting to sound more and more like the Radio Moscow of old.
I THINK IT IS CALLED JEALOUSY
NOT EVERY COUNTRY ON THIS ROCK CAN
AND GIVE SO MUCH TO ITS CITIZEN
TO SPEND. RUSSIANS CAN'T AFFORD IT
SO THEY START TALK "BS" AROUND Quoting: jarha
Right on Pal, And Vote Obama=Antichrist |
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Deisi
User ID: 351254
2/9/2008 4:39 PM
| | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
This is exactly how it is.
They are giving you MORE debt to excellerate the death of the dollar. Quoting: Anonymous Coward 368999
MONEY isn't debt, moron.
Credit cards and mortgages ARE debt.
. |
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Anonymous Coward
User ID: 311553
2/9/2008 4:40 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
Anyone else want to burn their checks in a giant protest?
count me in!!!! Quoting: Anonymous Coward 99107
Burn it and return to sender the ashes.
That money is covered in blood, I want nothing to do with it. |
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Anonymous Coward
User ID: 352521
2/9/2008 4:43 PM | | Re: US Government Targets Its Own Citizens In Massive Tax Rebate Fraud | Quote |
yup
he's right it's a loan Quoting: ^TrInItY^
No, its not. Its an advance on the credit for 2008 you wouldn't have gotten without this legislation.
I feel like I'm talking to myself.
Name one thing Sorcha Fool ever got right. It is a creative writing site. |
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