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anyone know anything about the new obama stimulas? i was told by hand r block that we would be getting 1000 dollers in a few months on top of our tax return are they correct??

do you know where i can find out and if its really true he sending out extra money to us like last year??

Answer Question
 
Ilovemyson51508

Asked by Ilovemyson51508 at 11:47 PM on Feb. 4, 2009 in Politics & Current Events

Level 1 (0 Credits)
Answers (11)
  • I haven't paid much attention to any of it but I happened to catch a little on the news less than an hour ago that it has not been signed off on yet. I guess there is a possibility that IF he signs the bill that COULD be the amount but nobody knows for sure until it is signed.
    LifeGoesOn08

    Answer by LifeGoesOn08 at 12:08 AM on Feb. 5, 2009

  • I think you might have a problem if your taxes are done by "hand r block".

    And no there is no guarantee you'll get $1000 dollers (sic)
    Anonymous

    Answer by Anonymous at 12:08 AM on Feb. 5, 2009

  • Not true!
    Ginger_07

    Answer by Ginger_07 at 12:29 AM on Feb. 5, 2009

  • I did my taxes on Turbotax and it did tell me I would be eligible for it this year, IF it were to pass.
    AriMicSun

    Answer by AriMicSun at 12:47 AM on Feb. 5, 2009

  • If this bill passes intact and is signed, you may get a tax credit, but as of today, no.
    NotPanicking

    Answer by NotPanicking at 1:05 AM on Feb. 5, 2009

  • what is a tax credit? i have been hearing this but it confuses me...
    JuLiAnSmOmMy317

    Answer by JuLiAnSmOmMy317 at 1:09 AM on Feb. 5, 2009

  • It's a dollar amount deducted from the taxes you owe for the year. If you paid in $500 for the year, and you owe $1500, a $1000 tax credit makes you break even. If you paid in $500 and you owe $1000, with a $1000 tax credit you'll get a $500 tax refund.
    NotPanicking

    Answer by NotPanicking at 1:23 AM on Feb. 5, 2009

  • tax credit is money you get back. Ex. Earned Income Credit.. if you are in a low tax bracket you get earned income credit if you have children.

    op- this is only if the package is passed. But it is a possibility.
    xxhazeldovexx

    Answer by xxhazeldovexx at 1:34 AM on Feb. 5, 2009

  • I wouldnt hold my breath.
    Anonymous

    Answer by Anonymous at 6:57 AM on Feb. 5, 2009

  • a tax credit is a dollar for dollar amount
    a tax deduction is a percentage off the dollar amount
    Anonymous

    Answer by Anonymous at 12:23 PM on Feb. 5, 2009

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