question about rebate checks..........
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question about rebate checks..........
Has anybody heard if you owe taxes or pass taxes if you would still get a check??????? I still owe from last year.
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Re: question about rebate checks..........
...NEW YORK (MarketWatch) -- Most Americans will soon receive rebate checks from the IRS worth anywhere between $300 to $1,200 or more, and many businesses have already launched marketing campaigns hoping to lure those potential customers.
Yet, many folks will not be eligible for a check at all and could end up in a bind if they've already hit the mall and put extra charges on their credit cards, counting on the rebate cash.
The global tax firm of Grant Thornton says if you belong to any of the following six categories of taxpayers, you should think twice before charging a purchase with plans to pay it off with that "free" government money. You may not be eligible for a rebate -- or at least not for a full or timely one -- if:
1. You owe the tax man money. The IRS has acknowledged that it will deduct from all rebate checks any federal tax debt. The agency will also withhold on behalf of all 50 states, and even Puerto Rico and American Samoa, any money owed in state or territory taxes. If you owe back taxes to the IRS or any state government, you could see your rebate reduced or gone altogether.
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http://tinyurl.com/2wjrwf
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Re: question about rebate checks..........
BUD wrote:Has anybody heard if you owe taxes or pass taxes if you would still get a check??????? I still owe from last year.
Welcome to the world of penalties and interest.
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Re: question about rebate checks..........
Dionne wrote:BUD wrote:Has anybody heard if you owe taxes or pass taxes if you would still get a check??????? I still owe from last year.
Welcome to the world of penalties and interest.
Sad part is this was when I worked part-time in 2006 and only made $8000 for the year!!!!!!!!I was shocked when the tax guy told me I will owe money!!!!!!I had taxes taken out but the company did not take enough.I also claim 0.
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