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Will We Be Paying Back 2008 Stimulus Check When We File Our 2008 Taxes.?

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    No, the stimulus check was given as an incentive to help the economy, it was based on how you filed your taxes and it was sort-of like a gift that you earned for paying taxes...considered to be a bonus
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    Kristiw 

    answered 11 months ago

    Well you know, that's funny because I'm filling out my 2008 taxes with TaxAct. It specifically asked how much we had rec'd in the 2008 stimulus check. At that time, the software said we owed $800. After I entered the $2100 that we had rec'd, the amount owed jumped to $2900. Any suggestions?
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    Psylocke69

    Psylocke69

    commented 11 months ago

      Yes its paid back!!!!!!!!!!!!! If you didn't get it at all you would put it on line #70 and then get it applied to your 2008 tax return as though it was a payment the same way as line 2 on w2 has paid in witholding tax.

      In other words if you got a stimulus check for 1200 and your refund is 2000.00 then you will only receive 800.00 as a refund,,,,,,,,,,,,,,,,,,,,,,,,,,that tells me your paying it back.

      Signed: Tax Professional
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      Guest

      Guest 

      answered 10 months ago

        Good question, how can the stimulus check be a gift if when I have done my taxes several different ways and even when my girlfriend took hers to H&R block, it is like she has to payback the stimulus check???
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        Guest

        Guest 

        answered 11 months ago

        Yes we do have to pay it back.  It was basically an advancement on your tax return.
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        Guest

        Guest 

        answered 11 months ago

        Yes. You do have to pay it back
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        Guest

        Guest 

        answered 10 months ago

        During filing of my 2008 taxes,there was an offer of 7500.00  in addition to what i was getting back you could take the extra 7500.00 or not. If you decided to take it,it staed that you will have to pay this 7500.00 back after two years for fifteen years. Which is 500.00 every year.  And i filed early january. Now when obama got in office he talked about the stimulus check,okay,i think it depends on when you purchased your home. I pur on may 31st of 08. And when i filed it told me that i would have to payback and i haven't rec a letter or an email from irs,government,turbo tax,or obama(lol) saying that i don't have to payback. But i am waiting. I'll keep you posted.  And i said all that to say "i'm praying that i dont" this check was the best tax return i've ever rec.
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        Gwiswi 

        answered 10 months ago

        Yes... You DO have to pay that back. We got back $1500 stimulus, and this year it was taken RIGHT BACK OUT! Don't be fooled that this was a gift to stimulate the economy, it was a loan against your taxes for this year... Not a gift!!
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        Guest

        Guest 

        answered 10 months ago

        Yes you have to pay it back. If they would have better explained it, I would have never even taken it.
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        Guest

        Guest 

        answered 10 months ago

        Try hard to understand, "tax professional"
        .
        The stimulus payment was an advance on your 2008 return.  
        If you were going to get $2000 back for your 2008, and you were already given $1200 of it,  you end up with $800 on your refund; that is not paying the money back, that is just getting the rest of your money.
        I think you should seek other employment.
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        Guest

        Guest 

        answered 10 months ago

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