Is the economic stimulus package just a loan coming out of next years taxes?
Written By: admin on May 29, 2009
One Comment
If I get 0 check from the package and my next years tax return in only 0, does that mean I have to pay the government 0 next year at tax season?
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Tags: Financial News, tax return, tax seasonTags: tax return, tax season
No.
The stimulus payment is not in any way, shape or form connected to your 2008 taxes. It won't even be counted (at least not by the federal government) as income. (Some states may choose to tax the payment.)
Whatever your tax liability is for 2008 will be unaffected by the stimulus payment.