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2009 Tax Rebate

Tax Rebate Question? Is it true you will have to pay it back in 2009? Need info from website if you have 1?.

My understanding is that it effects my 2009 taxes. Is this true?

While the rebate depends on your 2007 income, it is actually a rebate toward your 2008 taxes. According to the proposed plan, in 2008, taxes would be cut from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers.

It's like a one time tax cut for 2008, but you get the rebate now instead of waiting to file your 2008 taxes. Because this is an advance payment on your 2008 taxes, your refund next year could be more (or less!) depending on your 2008 income when you file in 2009.

Nothing has passed Congress yet, so all details are subject to change.

The White House explanation of the tax rebate is at the link below.

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	TurboTax Deluxe Federal + e-File + State 2010 - [Old Version] List Price: $59.95
	Description TurboTax Deluxe was designed to make it easy for you to get the biggest tax refund possible, checking for accuracy and uncovering 350+ deductions and credits. Includes free Federal Efile and TurboTax State for completing your state taxes...

	Sage Peachtree Complete Accounting 2012 List Price: $299.99
	Description You need ease and efficiency to keep your business growing. Sage Peachtree Complete Accounting 2012 can help you be more productive with robust core accounting and advanced features like job costing in-depth inventory capabilities simplified dashboards and the automation of key tasks including purchasing and shipping...

	TurboTax Deluxe Federal + eFile + State 2009 List Price: $59.95
	Description If you own a home, made donations or have medical expenses, TurboTax Deluxe will easily get you every tax deduction you deserve. Get Your Refund Fast: Efile Your 2009 Taxes with TurboTaxHere's how efile works: Start your return and efile with TurboTax today...

Handyman Matters in CBC story about Canadian the 2009 tax rebate

$1,500 Federal Tax Credit & State Tax Rebate available in New Jersey, Pennsylvania and Delaware

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Jason Keen