Contractor Taxes Calculator
March 12th, 2008
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Question: No letter stating I am getting the Stimulus check as of yet?
I filed my 2006 taxes earlier this year. I made over $5000 in income, but because I was a paper carrier, I had to file it like I was a business since I was considered an independent contractor of sorts. I didn’t pay taxes when I was paid.
So I paid my dues when I filed, but still got a refund of $1200 since I claimed two children.
My fiance and her mom have gotten a letter from the IRS talking about the stimulus checks, but I haven’t as of yet. I filed before her mom did by a couple weeks.
I also just went and did the calculator thing at the IRS website and it said I may receive a rebate and that it may be $900.
Do I need to worry if I didn’t get anything stating that I will be getting a stimulus rebate?
Also, is this a pre-bate or an actual rebate? Will this mean my fiance or I will get less next year because of this stimulus check?
sorry… I meant 2007 taxes.. duh… early morning
Answer: The IRS letters are still going out. I received mine yesterday.
You say you filed your 2006 return. Be sure to file your 2007 return.
It is a pre-bate, if you want to call it that. Will you get less next year? Uhhh....sort of. If you don't file your 2007 return early enough, you won't get the rebate check. You would then get credit for it when you finally file your 2008 return (they are not going to send rebate checks out after 12/31/2008).
But the rebate is based on a tax cut on 2008 taxes. So you really don't "get less" next year because of the stimulus check. You are simply getting the tax cut now. And if your tax situation changes in 2008 so that you really shouldn't get the tax cut, you don't have to send the money back.
Clear as mud?
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