[Paul Thomas, CPA]

"Dragonlady" wrote
> That is NOT what the e-mails I received from the state, which administers
> the rebate checks, say. Where are you getting your information from?





Errrr........from the IRS........

http://www.irs.ustreas.gov/irs/article/0,,id=177937,00.html

The one being touted all over the press is a federal payment, which is not
being administered by any state.

Archived from group: alt>native

[Dragonlady]

"Paul Thomas, CPA" wrote in message $k27.14766@bignews2.bellsouth.net...
>
> "Dragonlady" wrote
>> That is NOT what the e-mails I received from the state, which administers
>> the rebate checks, say. Where are you getting your information from?
>
>
>
>
>
> Errrr........from the IRS........
>
> http://www.irs.ustreas.gov/irs/article/0,,id=177937,00.html
>
> The one being touted all over the press is a federal payment, which is not
> being administered by any state.

Pardon me, you're right, the info is the same as I got, and is from the IRS.
I just received it from the state. Don't know why I thought the state was
administering it. However, everything I've read says it's based on your
2007 tax return, and the only reference I can find to 2008 says that if you
don't qualify based on your 2007 return, you might be able to qualify on
your 2008 return.

Q. I don't qualify for a stimulus payment based on my 2007 return. But my
tax situation will be different in 2008. Will I qualify for any special
benefit?

A. Possibly. The 2008 tax instructions will include a worksheet to help
those who did not qualify for a payment or those who received a reduced
amount determine if they can obtain a benefit when they file their 2008 tax
returns next year.



In fact, it specifically says the return is based on your 2007 taxes, unless
you have qualifying non-taxable income from social security or railroad
retirement.

"In most cases, the payment will equal the amount of tax liability on the
tax return, with a maximum amount of $600 for individuals ($1,200 for
married couples who file a joint return). "