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No, the rebate check is an advance payment of a 2008 tax credit. The money is actually a portion of the refund or payment applied to the taxes you will file in 2009. Therefore as it is a refund check it is not taxable income.
Wiki User
∙ 16y ago
Wiki User
∙ 15y agoNo. It is considered a refund of overpaid federal tax, which is never taaxable. The Stimulus Check will be considered as income when filing your 2007 federal tax return. If you will remember in years past when the IRS has issued these types of "rebates", the following year, they were added back into your income for tax purposes. The purpose of the checks were to boost the economy and you need to remember that the federal government does not give away billons for "free". It was definitely not a refund on your taxes. Sharon http://taxresolutionaries.blogspot.com
Wiki User
∙ 15y agoNo...it is considered a refund of an overpaid tax...so it wasn't deductible when paid.
Wiki User
∙ 15y agomy refund would have been $3600 for 2008. since i received an 1800 stimulus, me refund will be $1800. looks like i repaid it to me.
Wiki User
∙ 15y agoNo. It was officially a refund of overpaid tax.
Wiki User
∙ 15y agoNo
Anonymous
do we pay taxes on stimulus check?
Anonymous
it is not income, it is not taxable
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Does the economic stimulus check have to be paid back?
No
When are wa getting a stimulus check in 2010?
Nothing is available at this time for the year 2010. The checks that were received in the year 2009 were called Economic Recovery Payment check. The economic stimulus check was received in the year 2008.
Do we pay taxes on 250.00 social security stimulus check?
Not taxable. But the 250 economic recovery rebate amount that you received in the year 2009 from the SSA is reported on the schedule M of the 1040 income tax return.
When is the last day to file for the stimulus checks?
You MUST file (postmarked) no later than October 15th to qualify for the economic stimulus check.
What are issued stimulus checks called?
Economic stimulus payments.
Does the economic stimulus check have to be paid back?
No
When are wa getting a stimulus check in 2010?
Nothing is available at this time for the year 2010. The checks that were received in the year 2009 were called Economic Recovery Payment check. The economic stimulus check was received in the year 2008.
Do we pay taxes on 250.00 social security stimulus check?
Not taxable. But the 250 economic recovery rebate amount that you received in the year 2009 from the SSA is reported on the schedule M of the 1040 income tax return.
When is the last day to file for the stimulus checks?
You MUST file (postmarked) no later than October 15th to qualify for the economic stimulus check.
Will the federal income rebates of 2008 be taxable on your 2009 federal income tax?
Yes. No. The IRS, in Notice No. CP 1378, "Understanding Your Economic Stimulus Payment", mailed to recipients of the tax rebates, states "You will not be required to report the amount of your stimulus payment as taxable income on your 2008 federal income tax return." See also: http://www.factcheck.org/askfactcheck/is_the_economic_stimulus_payment_taxable.html
What are issued stimulus checks called?
Economic stimulus payments.
How much is the stimulus check?
Go to www.irs.gov, click on "When will I get my stimulus check?", click on "Economic Stimulus Payments Information Center", click on "Where is my stimulus payment?" and follow the directions. :)
What is the minimum income requirement to be eligible for a stimulus check?
Anyone making less than $3,000.00 in 2007 is not eligible for a stimulus check. Also, the economic stimulus law allows Social Security recipients and recipients of certain veterans' benefits and Railroad Retirement benefits to count those benefits towards the qualifying income requirement of $3,000. Supplemental Security Income (SSI) does not count as qualifying income for the stimulus payment.
Stimulus checks?
Will I receive a stimulus check?
When a stimulus check to do?
When a stimulus check being sent out
Where stimulus checks taxable?
No. the stimulus is just the same 2008 stimulus for people who did not receive the whole amount in 2008 and that was not taxable There is no 2009 stimulus check. Instead workers get a making work pay creidt. A refundable tax credit of up to $400 for working individuals and up to $800 for married taxpayers filing joint returns. This tax credit will be calculated at a rate of 6.2 percent of earned income and will phase out for taxpayers with modified adjusted gross income in excess of $75,000, or $150,000 for married couples filing jointly. Taxpayers who do not have taxes withheld by an employer during the year can also claim the credit on their 2009 tax return.
Who is qualified for stimulus checks?
WHo qualified for stimulus check in 2009
