"Rebate madness"

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  • veritas
    Senior Member
    • Dec 2005
    • 3290

    #1

    "Rebate madness"

    Here is an excerpt I received from the state of Oregon this morning

    "The Department of Revenue has begun to receive Oregon returns with “stimulus payment” written on the top of the form and no income (or less than the filing requirement) being filed. Please remember that individuals who are only filing for purposes of receiving the federal rebate are not required to file an Oregon return unless (1) income exceeds the Oregon filing threshold or (2) they are required to file a federal return for purposes other than the rebate."

    Probably been smoking too much medical mj.
  • Roland Slugg
    Senior Member
    • Aug 2006
    • 1860

    #2
    The rule of unintended consequences

    Dear veritas

    That's yet another example of fallout I hadn't thought of, and I doubt if any of the geniuses at Treasury or Congress did either. Oh, the bad laws we get when Congress rushes to act.

    Since you like to quote Ronald Reagan, you might enjoy this favorite of mine: "My philosophy on the Cold War is very simple: We win ... they lose."
    Roland Slugg
    "I do what I can."

    Comment

    • thomtax
      Senior Member
      • Nov 2006
      • 1276

      #3
      I wonder how many of these were efiled, but the preparer did not realize that unless s/he suppressed the state, that it would file also? An easy overlook.

      LT
      Only in government or politics is a "cut in spending" really an increase. It's just not as much of an increase as they wanted it to be, therefore a "cut".

      Comment

      • BOB W
        Senior Member
        • Jun 2005
        • 4061

        #4
        Originally posted by thomtax
        I wonder how many of these were efiled, but the preparer did not realize that unless s/he suppressed the state, that it would file also? An easy overlook.

        LT
        Been there done that>>>>> but I don't care, let the state work.................
        This post is for discussion purposes only and should be verified with other sources before actual use.

        Many times I post additional info on the post, Click on "message board" for updated content.

        Comment

        • joanmcq
          Senior Member
          • Jun 2007
          • 1729

          #5
          My software doesn't file or prepare the state automatically (I don't have it set to automatically open state forms) so this would not be a problem!

          Another idiotic act by the federal government that will have the states fuming and cost lots of bucks...

          Comment

          • Gary
            Senior Member
            • Jul 2005
            • 435

            #6
            Arizona

            In Arizona, a filer with only SS can get a refundable credit for $25, so it pays to file both Federal and AZ here.

            Comment

            • PIGLEE
              Senior Member
              • Sep 2005
              • 446

              #7
              Rebate will cost Arizona.

              I realized this yesterday doing a Stimulus Return, a couple filing will get a refund Arizona Refund check of $50.00. Arizona sends it out all the time, if they get an AZ Return.

              I figured that if 2 million couples file an AZ return with the Stimulus Package, 2 million couples will get an AZ Refund of $50.00. That will cost the State of Arizona 100 million dollars. This will really blow Arizona's tight budget!!!! With all the retired people in Arizona it will probally cost the state a lot more.

              Comment

              • John of PA
                Senior Member
                • Jul 2005
                • 1104

                #8
                The worst is yet to come

                For those of you like myself who file many extensions...........well the IRS is about to send letters out to all taxpayers telling them they must file by April 15 to get the advance rebate check (or wait until next years tax return to get it). I hope I am wrong, but there may be a panic by taxpayers that they do not want to file an extension so they can get thier check.

                Comment

                • JohnH
                  Senior Member
                  • Apr 2007
                  • 5339

                  #9
                  CHange your cutoff date

                  I usually set March 20 or thereabouts as the cutoff date for extensions. This year I'm making it March 15, or maybe even March 10. Anything that comes in after that date automatically gets an extension - if we get it done fine, and if we don't then the Apr 15 date is already off the table.
                  "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

                  Comment

                  • Jesse
                    Senior Member
                    • Aug 2005
                    • 2064

                    #10
                    Originally posted by John of PA
                    For those of you like myself who file many extensions...........well the IRS is about to send letters out to all taxpayers telling them they must file by April 15 to get the advance rebate check (or wait until next years tax return to get it). I hope I am wrong, but there may be a panic by taxpayers that they do not want to file an extension so they can get thier check.
                    Please, say it isn't so?! Really, they have to file by April 15?
                    http://www.viagrabelgiquefr.com/

                    Comment

                    • BP.
                      Senior Member
                      • Oct 2005
                      • 1750

                      #11
                      Originally posted by Jesse
                      Please, say it isn't so?! Really, they have to file by April 15?
                      Veritas gave us the link to the letter in another thread. Didn't see any mention there of a date. Check IRS FAQ page for stimulus payments. Says extension filers, or even those not on extension, will get the advance payment in 2008 if filed by 15 Oct 08.
                      Last edited by BP.; 03-02-2008, 08:57 AM.

                      Comment

                      • Jesse
                        Senior Member
                        • Aug 2005
                        • 2064

                        #12
                        Originally posted by BP.
                        Answer is on the IRS Stimulus Payments FAQ page:

                        "Q. I have not yet filed my 2007 tax return. Can I still qualify for a stimulus payment in 2008?

                        A. Yes, but you must file a 2007 tax return. The IRS encourages you to file a return even if your income is low or much of your income is tax-free. File your return, if possible, by the regular April 15 deadline. If you file after April 15, with or without a tax-filing extension, your payment will be delayed. If you qualify for a payment, you can insure that you get it by filing your return by Oct. 15, 2008."
                        Whew, as I wipe my forehead, I was sweatin'. I thought I had read this but was not sure if it was IRS info or prior post someplace, either way I will have some extensions as usual, and don't need an extra guilt trip this year for someone not receiving the rebate because they don't have their sh!t together.
                        http://www.viagrabelgiquefr.com/

                        Comment

                        • Zee
                          Senior Member
                          • Mar 2006
                          • 932

                          #13
                          Originally posted by Jesse
                          Please, say it isn't so?! Really, they have to file by April 15?
                          Here's what's posted on the irs.gov FAQ section on this issue:

                          Q. I have not yet filed my 2007 tax return. Can I still qualify for a stimulus payment in 2008?

                          A. Yes, but you must file a 2007 tax return. The IRS encourages you to file a return even if your income is low or much of your income is tax-free. File your return, if possible, by the regular April 15 deadline. If you file after April 15, with or without a tax-filing extension, your payment will be delayed. If you qualify for a payment, you can insure that you get it by filing your return by Oct. 15, 2008.

                          Comment

                          • Black Bart
                            Senior Member
                            • Jun 2005
                            • 3357

                            #14
                            "Reefer Madness"

                            is apparently over (oops; scratch that -- I mean "Rebate Madness" -- kudos to Veritas for his catchy play on words).

                            I quickly got 25 or so of these and...poof...it's over with.

                            Oh well, I got thirty bucks a pop which I thought was reasonable enough (after all, they're some trouble and we're not social workers). It was a nice little tidbit while it lasted.

                            Comment

                            • JohnH
                              Senior Member
                              • Apr 2007
                              • 5339

                              #15
                              Another wave - maybe two

                              Bart:
                              I think you'll see another rush in the near future. That first group got their info from the media and by word of mouth. The AARP Bulletin will be out in the next 5-7 days, and I wouldn't be surprised if it triggers another wave bigger than the first one.

                              Then there will be the publicity beginning around Apr 1 - "Be sure to file your stimulus return to get your rebate" emanating from government and from the chains. If this wave materializes it could be the worst, since many of the normal procrastinators will be clamoring for no extension this year at the same time you're fielding stimulus return inquiries. On top of all that you already have 25 retirees telling all their friends what a great guy you are and urging them to call you. It could get interesting.
                              "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

                              Comment

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