Results 1 to 5 of 5
  1. #1
    Merchant & ABW Ambassador
    Join Date
    May 31st, 2006
    Location
    Houston TX
    Posts
    4,731
    Your Tax money at work: $42-Million to Send Out Tax Letters
    Man, I feel so so good to pay taxes..
    http://www.13wmaz.com/news/national_...?storyid=49902

    The government is shelling out 42 million dollars to notify Americans that their tax rebate checks are almost in the mail.

    The Internal Revenue Service is spending the cash on letters to 130 million households who filed returns for the 2006 tax year.

    The notices inform them of the $600 tax rebates for individuals and $1,200 for married couples.

    The director of the president's National Economic Council says the letters are being sent to help prevent taxpayer confusion.

    However, congressional Democrats call the letters "self-congratulatory" and say there are better ways to use the money.

    The tax rebate checks are to go out starting in May.

  2. #2
    .
    Join Date
    January 18th, 2005
    Posts
    2,973
    In fairness, I suspect that a lot of taxpayers are calling the IRS toll-free numbers to ask questions about the "stimulus" checks. Sending these letters just before the busiest month for IRS calls might actually be a good idea to save money and improve taxpayer-service.

    The real scandal isn't how the IRS is dealing with the "stimulus," but the morons in Congress (Republican and Democrat) who think that they can persuade Americans that the US government is "doing something about the recession" by simply "giving" taxpayers billions of dollars that must be borrowed and later repaid from our taxes. I have come to expect this idiocy from "W" -- but my Democrats in Congress have "rolled over" too many times in the past 18 months, and I am ashamed of the people I voted for.

    My understanding is that the "stimulus" checks will only be sent to taxpayers who have filed their 2007 tax returns by April 15. Taxpayers who obtain extensions will have to wait until after their taxes are actually filed. And I believe that taxpayers who are "not required to file" will not receive any checks unless they file a tax return this year, so I assume that a record number of tax returns will be filed this year -- millions of extra returns for the IRS to process for no good reason.

    As to why the "stimulus" payments aren't being consolidated with tax-refund checks to save $100 million or so, I have no idea.
    Last edited by markwelch; March 8th, 2008 at 11:17 AM.

  3. #3
    No Longer Banned!
    Join Date
    January 19th, 2008
    Location
    Wilmer, Texas 75172
    Posts
    939
    We electeted a Zoo Full of Numbnuts To "Run" The US {In The Ground}
    Quote Originally Posted by markwelch
    And I believe that taxpayers who are "not required to file" will not receive any checks unless they file a tax return this year, so I assume that a record number of tax returns will be filed this year -- millions of extra returns for the IRS to process for no good reason.

    As to why the "stimulus" payments aren't being consolidated with tax-refund checks to save $100 million or so, I have no idea.
    Mark

    I'd say that this action is likely strictly cosmetic. My guess is it all has to do with what set of books or whose books the burden is carried on. Much the same way the real national debt is in excess of 9 Trillion USD and ballooning at like a ridiculous sum every second, yet EVERY politician says it is far less.

    It never ceases to blow my mind that people don't really want to solve the problem. They just blow smoke.

    Makes me wonder why these people even bother to exist. The whole exercise is rather pointless.

    Some people just don't care about quality. So we elect them for president/ congress..... All based upon their personality. Perception is King ?

    Steve
    DreamLinux.net | Registered Linux User 453976 | PM me to view our sites. It's a Google thing.

  4. #4
    ABW Ambassador SunshineTricia's Avatar
    Join Date
    May 7th, 2006
    Location
    Indianapolis
    Posts
    896
    My biggest concern about this whole check thing is that the plan is to give the economy a boost by giving people a little extra money to spend. But every "analyst" that I see on CNN, MSNBC, etc. is saying that the prudent thing to do with the check when you get it is either 1) pay off credit card debt, or 2) put it in a savings account in case you lose your job.

    So basically the money people on tv and the internet are telling people to do the exact OPPOSITE thing with the money that needs to be done for the money to help the country.
    --Tricia Meyer-- I love being the exception to the rule.

    Tricia Meyer | Helping Moms Connect | Wine Club Reviews and Ratings | Hunger Games Fan

  5. #5
    .
    Join Date
    January 18th, 2005
    Posts
    2,973
    > "[Analysts say] the prudent thing to do with the check when you get it is either 1) pay off credit card debt, or 2) put it in a savings account in case you lose your job. So [analysts] are telling people to do the exact OPPOSITE thing with the money that needs to be done for the money to help the country." <

    Yes and no. First, 95% of people aren't going to do "the smart thing" anyway. But if they do use the check to pay down their credit card debt, then they're probably opening up some available credit -- and they're probably addicted to consumerism enough that they will spend back up to the limit anyway. And if they put the money in the bank for a "rainy day" fund, most folks (even those who aren't laid off) will find that a rainy day comes pretty quickly (car repair, back-to-school shopping, groceries).

    Worst case, in my opinion: 100,000 families use this money to make one more payment on an "under-water" mortgage (where the mortgage far exceeds equity), only to lose the house anyway. If they "did the math" first, they could use the money to rent an apartment (probably paying half as much for rent + deposit than their monthly mortgage payment).

    The sad thing is that millions of people COULD use this check as an incentive to change -- by paying down a credit card and closing it or asking that the credit limit be reduced, or by using the money to hire a financial consultant, or by hiring an attorney to negotiate with fraudulent mortgage brokers and lenders.

    It's actually kind of scary to think that most of the "stimulus" money will just be used to pay interest.

    I think that 90% of people will use the "stimulus" check exactly the way that the government hopes. I just don't think it will make any significant difference.

  6. Newsletter Signup

+ Reply to Thread

Similar Threads

  1. Amazon Tax will raise 9.4 Million
    By Georgie Peri in forum Connecticut Affiliate Tax
    Replies: 4
    Last Post: April 21st, 2011, 11:21 PM
  2. I can't send my electronic tax form
    By fiction in forum ShareASale - SAS
    Replies: 2
    Last Post: April 21st, 2011, 10:38 AM
  3. Amazon sues Texas over $269 million tax bill
    By CTanK in forum Texas Affiliate Tax
    Replies: 3
    Last Post: January 31st, 2011, 09:00 PM
  4. Replies: 2
    Last Post: July 8th, 2003, 06:12 AM
  5. Tax Time - Does CJ send out 1090 Forms?
    By JadaKiss in forum Commission Junction - CJ
    Replies: 14
    Last Post: January 4th, 2002, 06:51 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •