Tax Rebate Question? Is it true you will have to pay it back in 2009? Need info from website if you have 1?

While the rebate depends on your 2007 income, it is actually a rebate toward your 2008 taxes. According to the proposed plan, in 2008, taxes would be cut from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers.





It's like a one time tax cut for 2008, but you get the rebate now instead of waiting to file your 2008 taxes. Because this is an advance payment on your 2008 taxes, your refund next year could be more (or less!) depending on your 2008 income when you file in 2009.





Nothing has passed Congress yet, so all details are subject to change.





The White House explanation of the tax rebate is at the link below.Tax Rebate Question? Is it true you will have to pay it back in 2009? Need info from website if you have 1?
If you are talking about the tax rebate you get after filing your taxes the answer is no.....that is the money you over paid. If you are talking about the extra tax refund we may get in May or June...the answer is no also....the president did this back in 2001 to stimulate the economy.....Tax Rebate Question? Is it true you will have to pay it back in 2009? Need info from website if you have 1?
The president has done this once before. So, no we did not earn it, so it want have to be filed, or I was lied too.
thats what i heard too................but so far as i know i don't think the goverment will ask it back again........first of all they will based this from last year that we over paid taxes