kd6vm
February 16th, 2008, 11:34 AM
People have wondered whether the Economic Stimulus Payment they receive this year will count against them next year. Here is some info from the IRS website:
Q. Is my stimulus payment taxable?
A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment. You will need to know this amount next year when you fill out your 2008 return.
Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?
A. No, the stimulus payment will not reduce or increase your refund when you file your 2008 return.
http://www.irs.gov/newsroom/article/0,,id=179181,00.html
Q. Is my stimulus payment taxable?
A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment. You will need to know this amount next year when you fill out your 2008 return.
Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?
A. No, the stimulus payment will not reduce or increase your refund when you file your 2008 return.
http://www.irs.gov/newsroom/article/0,,id=179181,00.html