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    Joan Gordon's Avatar
    Joan Gordon Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 6, 2008, 08:40 AM
    Tax rebate-2008
    Tax rebate: Is tax rebate actually a loan to be paid back in 2009?
    amricca's Avatar
    amricca Posts: 851, Reputation: 92
    Senior Member
    		  
    #2

    Mar 6, 2008, 08:58 AM
    Yes, something like that. It will come out of your rebate in 2008.

    Do we have to pay back this so called tax rebate check coming this spring? - Yahoo! Answers
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #3

    Mar 6, 2008, 10:00 AM
    Quote Originally Posted by amricca
    Yes, something like that. It will come out of your rebate in 2008.
    No - you will not be taxed on the stimulus payment, and will not have to "pay it back." See:

    Will I Have to Pay Taxes On My Rebate?

    Stimulus Payments: Answers to Frequently Asked Questions
    amricca's Avatar
    amricca Posts: 851, Reputation: 92
    Senior Member
    		  
    #4

    Mar 6, 2008, 10:55 AM
    Confusing, according to the link ebaines provided we won't have to pay it back. I heard, while it will not come directly out of your pocket, they are working it out so that it affects your 2008 return and the gov. will get it back so to speak.
    Wildsporty's Avatar
    Wildsporty Posts: 445, Reputation: 38
    Full Member
    		  
    #5

    Mar 9, 2008, 08:40 AM
    You will not directly have to pay it back, it is not a loan, however, I am sure down the road the government will figure out a way to get it back.

    Shirley
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #6

    Mar 9, 2008, 09:19 AM
    NO Stimulus tax rebate is NOT a loan.
    You don't have to repay it.

    Read: Your Tax Return: Are You Eligible for 2008 Stimulus Tax Rebate Payment?
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