If I still owe taxes for 2007 will I still get my stimulus payment for 2008?

BRY2K

The rebate check will be based on the tax shown on line 44 of your 1040 (as well as earned income, social security income and adjusted gross income, for purposes of computing the minimum and maximum due). It doesn’t matter whether you have a refund coming, or owe taxes at the end of the year; and it doesn’t matter whether you pay the taxes you owe with your income tax return or with an installment agreement reached with the IRS. However, the IRS can “offset” ANY tax refund to pay amounts owed to federal or state government agencies (including, of course, the IRS). Whether or not they will do this with tax rebates is anyone’s guess. The bill passed by Congress and signed into law by President Bush does not cover this situation, thus leaving it up to the IRS and the courts to decide. The rebate is not available for “higher income” tax payers. So, if you make more than $75,000 ($150,000 for married filing jointly), you are out of luck. The liberals don’t think you are entitled to a rebate of any of the extortionate taxes you have paid to finance their socialist programs. http://www.consumerismcommentary.com/2008/01/28/economic-stimulus-tax-rebate-calculator/ Apr 25 08, 11:09 AM

zbeckabee

Under the Economic Stimulus Act of 2008, more than 130 million American households will receive economic stimulus payments beginning in May. The only way to get one is to file a federal tax return for 2007. OTHER FAQ's from the IRS: http://www.irs.gov/newsroom/article/0,,id=179181,00.html Apr 25 08, 12:43 PM