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your thoughts on stimulus - have a tax question

Published February 2, 2009
Views: 169

I've seen the alleged layout plan that has left the House and now headed for the Senate.

Some of those items, I DO NOT expect to be taken out, if anything either left alone or increased. Such as the $500 credit per person and $1000 credit per married couple on taxes.

There were also some school tuition/ interest items within the bill.

I just finished putting everything together and I'm ready to file and my husband yells at me "DON'T FILE YET! If this stimulus passes Senate, it will impact our taxes".

Hmph... aside from the fact I'm 100% against this "stimulus" because all it appears to me is to be a bunch of shinnanigans of projects that pizzed off Dems couldn't get through for the last 8 years.

Plus, the longer I wait, the more $$ it costs me to file.  Though since I have to pay Fed, I'm going to mail it in instead of electronically file it. But I'm getting a refund already from state so I'm definately filling that (guess what's paying for the Federal!!)

I absolutely CAN NOT see waiting to file so we can see what the Senate is going to pull out of their hiney hole.

I'm going to be honest and say that I stopped paying attention when the thing got so big and I got disgusted, so maybe someone knows something I don't (well, there's no maybe about that)

What do you think?

Filed under: Personal




18 Comments


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"They already seem to be going down a little here. I got a great big house right on the edge of the beltline (in Raleigh) for $36,000 less than the asking price from a couple months ago. Made an offer I didn't think they would accept, then they only raised it by $2,000!"

I've always heard, come up with an offer that you already think is ridiculously low, then subtract $10K more from it. You never know what they might go for, and all they can do is counter offer!

"Could someone tell me if the stimulus package is supposed to include a check and tax cut or tax cut only."

i have not yet seen the specifics laid out, but it looks like it will contain a rebate check AND tax cuts that will phase in during 2009 and 2010.

Could someone tell me if the stimulus package is supposed to include a check and tax cut or tax cut only.

Oh and ps, taxact.com is fairly cheap and I like the site. Its easy to use, etc. The charge is only 13.95 to file fed and state if you use their "standard" federal service. I think the "upgrade" is 10.00 bucks but I didn't see any need for it.

If it passes I don't see it affecting the 2008 returns. I would imagine it would only start impacting returns for 2009 and forward. Most likely you can go ahead and file w/o a problem.

tidbit...ive used turbotax and taxcut before and haven't seen the prices increase... slick rick da rula

Don't know about you, but right now for me to file it's only $24.00. If I wait till mid March it will be 35.00ish. Just for fed.

That could be because I get a discount through my company and that discount is only valid for xx time period. I honestly never look.

Last year we waited to the last minute because we had to pay. It cost me almost $20 more for Fed and $12 more for state to file than it would have had I filed in Feb

"it wont effect this years"

there's at least one provision in there that may affect 2008 for some.

it wont effect this years

tidbit...ive used turbotax and taxcut before and haven't seen the prices increase...

slick - When you use Turbo Tax to file electronically, it's fairly reasonable during the month of Feb. About 2 weeks into March, they go up on their prices to file

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