Are you getting a tax rebate?
 

check out the discussion over at DST Blvd. http://www.greekchat.com/forums/ubb/wink.gif

Thanks Uncle Sam! http://www.greekchat.com/forums/ubb/rolleyes.gif (it's about time!)
www.greekchat.com/forums/ubb/Forum53/HTML/001142.html



[This message has been edited by AKA2D '91 (edited June 07, 2001).]

I BETTA BE OR I WILL SIT ON BUSH'S WHITE HOUSE STEPS FOR THE 5 SECONDS THEY LET ME SIT THERE http://www.greekchat.com/forums/ubb/smile.gif

I think a lot of people were excited about this "tax rebate" but if you either didn't owe or received a refund from the government, you will not be getting a check.


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#10 Sigma (Clark Atlanta University) Spring 1999
Currently: MAL, Southern Region

[This message has been edited by DST Love (edited June 07, 2001).]

I OWED BIG TIME! I BETTA GET MY CHECK! http://www.greekchat.com/forums/ubb/biggrin.gif

Heeeeeeey, you remembered http://www.greekchat.com/forums/ubb/wink.gif http://www.plauder-smilies.de/happy/xyxthumbs.gif http://www.plauder-smilies.de/rotfl.gif

DST LOVE that wasn't my understanding of the rebate. I went to www.click10.com and they gave the complete details of the refund all the way down to the tax forms and the line # on the forms to determine the amount you would receive and the date your check would be mailed out. You can also check out this link: http://www.cnn.com/2001/allpolitics/06/07/tax.primer/

Okay, if folks already got these MAJOR A$$ checks back in February and March, why in the world would they GET MORE $$$ from the government? That pisses me off! (No offense to those who get hella $$ back from the guh'ment.) http://www.greekchat.com/forums/ubb/wink.gif

I'm just tired of not making any REAL money and can't get a break at all! http://www.greekchat.com/forums/ubb/rolleyes.gif

I understood it the way DSTLOVE understood it.

I looked at that Click10 link, regardless, I's still waiting for my check. At DST Blvd it says the checks will come July 27, at Click10 it says July 30. I don't care, I'll still be waiting, I don't care if it's $20, IT'S MINE! http://www.greekchat.com/forums/ubb/biggrin.gif http://www.greekchat.com/forums/ubb/tongue.gif

[This message has been edited by AKA2D '91 (edited June 07, 2001).]

I've heard it on a bunch of different news and radio stations. If you owed nothing or got a refund, you will not get a tax rebate check. Also if you are a student, regardless if you worked and owed something to the gov't, if your parents claim you as a dependent, you will not be getting a check.


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#10 Sigma (Clark Atlanta University) Spring 1999
Currently: MAL, Southern Region

Yeah, I understood it the same way, too. But I don't care that I got a refund. I should still get a rebate for money that they took out. It's not fair to me that only people who ended up owing get a rebate. Uncle Sam still took the same percentage out of my check as everyone else in my tax bracket, and I want some cheese back. Only because it's being given out. http://www.greekchat.com/forums/ubb/smile.gif

On the other hand, I'm not sure I like this whole thing. It's going to increase our deficit that Mr. Bill worked so hard to keep down. Yeah, we get some loot, but is it really worth it in the long run, as far as our economy goes? Things just aren't looking good right now. Wall Street all jacked up. Companies laying off THOUSANDS of people left and right. This whole thing just doesn't sit well with me. I'm tellin' you, though, I'd feel a whole lot better if I was getting a rebate check, LOL!! http://www.greekchat.com/forums/ubb/biggrin.gif


[This message has been edited by Ideal08 (edited June 08, 2001).]

The rebate is not based on whether or not you received a refund or had to pay money back on your 2000 tax return. It is a tax cut that is retroactive based on your 2000 taxable income. The government had been taxing everyone 15% in the year 2000 http://www.greekchat.com/forums/ubb/eek.gif. The new bill reduces the the tax rate to 10% http://www.greekchat.com/forums/ubb/smile.gif. The bottom line is we were just over taxed. Which means your rebate is 5% of your 2000 taxable income. If your tax liability (the tax amount that you paid in 2000) is zero your rebate is zero. This means you didn't have to pay any taxes at all; you got every penny from Uncle Sam that you paid in 2000 refunded to you. Nothing from nothing leaves nothing http://www.greekchat.com/forums/ubb/frown.gif.

I'm with you on that http://www.greekchat.com/forums/ubb/wink.gif!!

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#10 Sigma (Clark Atlanta University) Spring 1999
Currently: MAL, Southern Region

You can also find information on the rebate on the IRS website, www.irs.gov. It is the official source for IRS info anyway.

They also direct you to the appropriate lines on your tax return form to determine what your rebate will be.
Thier site says this:

If you filed single or married filing seperately and made less than $6,000, your rebate will be 5% of your taxable income. If you paid less to the government than what 5% of your taxable income equals, you will get back all you paid but not more than you paid.

If you filed single or married filing seperately, made $6,000 and up your refund will be $300 as long as you paid more than $300 in taxes. If you paid less than $300, you will get back all you paid but not more.

If you filed head of household and made less than $10,000 than you will receive back 5% of your taxable income up to %500 as long as you paid $500 or more in taxes. If you paid less than $500, you will receive back all you paid. If your taxable income was more than $10,000 you will receive $500 as long as you paid more than $500 in taxes.

For people filing married, the taxable income thrshold is $12,000 in taxable income. Less than $12,000 the refund is 5% and above $12,000, the refund is $600. Again, this is all bound by how much you paid in taxes.

For everyone, if you paid less than your calculated refund, you will only get back what you paid. (ex. I would get $250 based on 5% of my income but only paid $200 in taxes. I can only get the $200 back, not more) Also, if you get back less than the $300, $500 or $600 max. you could have qualified for, you can get a credit on your 2001 taxes for what ever you did not get this year. (Example- if I only get $200 of my possible max of $300 this year, I get a $100 credit next year.) Also, if you did not pay taxes this year, you can apply your credit to your taxes in 2001.

I hope that was clear. Let me know if it was not and I will edit for clarity. Also, the irs site is very good at breaking this down.

Just trying to help my sisters out!

#3 Baltimore Metropolitan Alumnae Sp 99

No, that logic doesn't sit well with me, or maybe I'm just ignorant to this whole thing. Which is a possiblity I'm willing to admit. But Uncle Sam did not give me every penny back that they took in the first place. Wasn't my refund based on the 15% that was taken out? Just because I got a refund doesn't mean that I wasn't overtaxed like everyone else. My income was still taxed at 15%. If the tax cut is retro active, then I should have monies coming back, as well, because I, too, should have only been taxed at 10%. Where is my 5% rebate? I don't get it just because I got a refund??? That sounds like they are getting over to me. Someone is going to have to break this down for me again, so I can understand. I just don't get that. http://www.greekchat.com/forums/ubb/confused.gif

I too am waiting on this check in the mail because I've been working too hard (supporting myself through college) to not get what is righfully mines!!!

On another note...
We all know that this tax cut/rebate benefits those of upper class status more than anyone else, and with this tax cut we'll also see decreased funds in previously government funded programs (i.e. public schools, money sent overseas to help with birth control, etc.)

If Bush were to give an untimatum(sp?) making us (US citizens) vote to either:
*have only 10% taken out of our paychecks
vs.
*more money in funding to public schools (especially those in "urban" areas)
which one would you vote for?

Have a good Friday and a blessed weekend
*Classy_Diva5*

I came across this via(lol) email:

TOP TEN THINGS BLACK FOLKS DID WITH THEIR TAX REBATE CHECKS:

Pookie: Got my lights and cell phone turned back on.

Shaqueta: Moved me and my 4 kids upstairs to a two bedroom apartment.

Smooth: Got out of jail.

Ray Ray: What rebate check?

Laqueatia: Me and Laqueatia Jr. got gold nails on our hands and toes!

June Bug: Invested mine, $500.00 worth of Lottery Scratch Tickets

Towanda: Called Ms Cleo

Big Daddy: Put a color T.V. in my Barber Shop

Uncle Johnny: Bought a harmonica, a bottle of Crown Royal, some
flowers,
and
took Ms Lucille on a date.

Roach: If I had got one, I would have bought some mad rims for my Ford
Escort!

HONORABLE MENTIONS:

P Diddy: Some Braces

Mike Tyson: Some anger management classes

Left Eye: Some fire insurance

Dennis Rodman: Some Class

Whitney Houston: One year membership to the Betty Ford Clinic

Al Sharpton: While in jail, a Whopper; Supersize!

Tavis Smiley: A bus ticket to the employment office

DL Hughley: Some new jokes.

Oprah Winfrey: A month's supply of Slim Fast/Slim Slow, Slim Something

Jesse Jackson: A year's supply of condoms

I'm still http://www.greekchat.com/forums/ubb/confused.gif as to do with mine. http://www.greekchat.com/forums/ubb/biggrin.gif

The above is hysterical. If I get my "tax rebate," it goes toward Boule' savings.

My $300.00 went toward my credit card debt. It was in my account for like 3 days.

Thanks alot Dubya http://www.greekchat.com/forums/ubb/rolleyes.gif

If you are entitled to the payment you would have received a notice by now telling you how much you will get - unless you moved or haven't filed for 2000 yet. You may still get it if you received a partial refund, but if you got a 100% refund of everything that was taken out, then you didn't pay taxes so you don't get the rebate check. The original schedule has been pushed back about 7-10 days.

I think we all have that! Please notice the date of the ORIGINAL post.

That was not the issue, you know the reason why I brought this back to the top. I found the email of the 10 TEN, so that's why it has come up AGAIN.


Thanks! http://www.greekchat.com/forums/ubb/biggrin.gif

You were correct about the rebate not being based on whether you received a refund for 2000. I received a nice refund for last year and will be receiving my $300 check in a few weeks.



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#10 Sigma (Clark Atlanta University) Spring 1999
Currently: MAL, Southern Region

Well I got mine on 8-11-01, and just like my signature...it's gone http://www.greekchat.com/forums/ubb/smile.gif http://www.contrabandent.com/pez/kao...hirol_buha.gif

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...and like that I'm gone!!
KL

I got mine July 23...I just signed it over to Visa so they would stop calling me!! http://www.greekchat.com/forums/ubb/biggrin.gif
One down 2 to go!!
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You can send a message around the world in 1/7 seconds; yet it may take several years to move a simple idea through a 1/4 inch of human skull.



[This message has been edited by HopefulProspective (edited August 21, 2001).]

Cake and eat it too...
 

So now to pay for it's debts, the gov't has decided it will have to dip into Social Security $$?

By the way, Saturday my husband and I were watching tv. The NBC affiliate in Charlotte showed a news clip about a refund check that bounced!:eek: :confused: :o I wish I saw the full story on that, but I missed it.

Bounced?
 

:eek: !

Like I said earlier in the summer even though you may have gotten a refund on your 2000 tax return you could still get a rebate check if you had a tax liability. I got a refund on my 2000 tax return and I also got a rebate check :p. Thank you GB. I'm glad I can read and comprehend what I've read. I guess I owe that to all my wonderful teachers through the years :D.

FYI
 

For those that didn't qualify for the tax rebate for the 2000 tax year, be sure inquire with the person doing your taxes or check the software you are using to see whether or not you can get the "rate reduction credit" up to $300 for 2001. Some software programs aren't calculating whether or not one may qualify and most people aren't aware that they can take this credit. The IRS is aware that many early filers aren't taking the credit, but they will not send notices before the filing deadline.

Have anyone heard about.............
 

How the IRS is taking back the money that they gave everyone from the tax rebate (In other words if you are getting a tax refund then they are going to take whatever money they gave for a tax rebate, then they are going to deduct it from your tax refund check. "Have you ever heard of this before?" I know you can't believe everything you hear......but I wanted to know if anyone heard of this before.

Someone was telling me about that --- saying it was just a "loan"???? Has anyone else heard this?

I thought that was the case. And, if you received a check this summer and you don't ordinarily get refund, like me, I'll have to pay $300 MORE!

Help me Lawd. I can't pay the money I owe now. :eek: