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Redjake · 02-01-2009, 08:33 AM

Did some research, and with the help of Lasereth who confirmed this (he just did his taxes), yes the stimulus payment will affect your 2008 return.

Why? The 2008 stimulus WAS your return. Just early.

If you normally got back $2000 on your return, and you got a $600 stimulus check, your return is now $1400. Sucks.

This is 100% confirmed. I don't know why they didn't explain this in 2008 when they delivered the checks. It wasn't explained very clearly. Probably so people would go out and spend it to stimulate the failing economy. I would've kept mine in savings if I had known it would be paid back in this method.

So ShaniFaye - the reason you owe money is because you normally would've broken even this year because of the reduced income, but because you got your refund EARLY in 2008 via the stimulus check, you are in the negative.

The stimulus check was your 2008 tax refund given to you in the same year early.

02-01-2009, 08:33 AM	#4 (permalink)
Redjake I'm a family man - I run a family business. Location: Wilson, NC	Did some research, and with the help of Lasereth who confirmed this (he just did his taxes), yes the stimulus payment will affect your 2008 return. Why? The 2008 stimulus WAS your return. Just early. If you normally got back $2000 on your return, and you got a $600 stimulus check, your return is now $1400. Sucks. This is 100% confirmed. I don't know why they didn't explain this in 2008 when they delivered the checks. It wasn't explained very clearly. Probably so people would go out and spend it to stimulate the failing economy. I would've kept mine in savings if I had known it would be paid back in this method. So ShaniFaye - the reason you owe money is because you normally would've broken even this year because of the reduced income, but because you got your refund EARLY in 2008 via the stimulus check, you are in the negative. The stimulus check was your 2008 tax refund given to you in the same year early. __________________ Off the record, on the q.t., and very hush-hush.