Friday, May 16, 2008

Economic Stimulation Package

Since I chose to do a direct deposit on my tax return this year the hubby and I got our economic stimuls check today. But I'm a bit concerned on it. I know that it is supposed to be money to help everyone out. But how is this going to affect my taxes next year? Am I going to have to pay taxes on it? Is it considered an advance on next year? I'm actually scared to spend all of it.

I know that it is supposed to be "free" money, but I don't actually trust the IRS. Is that a bad thing???


ArleneWKW said...

It looks like you've been doing a terrific job with your weight since I last checked. Yaaaay for that. Re. the money you got from the IRS, that is Your money. Whether it's a refund for overpayment of taxes or the so-called stimulus money, it belong (untaxed) to you. Have fun spending or saving it.

Sally Parrott Ashbrook said...

Arlene's right--we may be screwing ourselves up by increasing our national debt by giving out the tax refund, but it is yours to keep. If that freaks you out, just put it in savings, which is a good place for it anyway, of course. :D


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