Some Taxpayers Received Duplicate Stimulus Payments June 20, 2008

This report was in  the NATTAX pro Blog. This probably sickens you too!

“The IRS has received reports of some taxpayers receiving duplicate economic stimulus payments. The duplicate payments are either in the form of a paper check or an additional direct deposit. Individuals who receive duplicate economic stimulus payments should immediately return the erroneous payment to the IRS.

If the erroneous payment was received as a paper check, the check should be marked “VOID” in the endorsement section on the back of the check and the recipient should attach a note indicating that he or she is returning an “Erroneous Stimulus Payment Check.”

Individuals who receive duplicate direct deposits of economic stimulus payments should advise their bank or financial institution of the mistake. The bank or financial institution will know the proper procedures for returning the money to the IRS.”

All I have to say is HAHAHAHA. Sure they will get those back.

5 MILLION UNCLAIMED STIMULUS CHECKS! June 19, 2008

So this article was in the USATODAY today and I had to comment. FIrst of all, 5 million folks qualify for a stimulus check and have not filed. Ok. There are quite  a few extensions out there but I am sure out of those 5 million, some probably haven’t filed in years and think they can beat the system. I doubt it guys. But for the vast majority it’s probably because of simple anxieties of life that have clouded their thinking, forgetfulness of others, and the “I don’t care” attitude of many more. Anyway, read this article. And comment if you choose.

USATODAY ARTICLE STARTS HERE (FULL ARTICLE CLICK HERE)

The Internal Revenue Service has issued 76.5 million payments worth $63.8 billion as part of the economic stimulus package that Congress passed and President Bush signed into law last February.

IRS Commissioner Doug Shulman, in a statement prepared for a House hearing Thursday, said one of its remaining tasks this summer will be tracking down some 5 million Social Security recipients and veterans who qualify for checks but haven’t filed to receive them.

 

Shulman, testifying before the House Ways and Means subcommittee on oversight and Social Security, said the agency planned a new “It’s not too late to file” program to reach retirees and veterans who normally don’t file tax returns because their benefits are not taxable. People must file to receive a stimulus check.

Eligible individuals can receive up to $600, and married couples $1,200, plus $300 for eligible children younger than 17. For people such as retirees who have no tax liability or filing requirement, there is a minimum payment of $300, or $600 for married couples.

Tell us what you are doing with your Rebate checks? May 10, 2008

Is it truly spending cash or are you paying down debt? You hear so much talk about what you should do with your money and what not to.  The government wants you to use it to stir the economy. Common sense says pay some credit cards down. Others say it’s for a vacation.

So we want to hear from you. Comment and tell us what you are doing with your money now that checks are arriving.