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Reasons Your Rebate Check is Less Than You Expected

Rebate Check Less Than You Expected? Here's Why

The IRS continues to update their FAQs about the stimulus checks and has now stated that If you owe federal taxes from previous tax years or have other debts you owe such as a student loan or child support, those uncollected amounts can be taken from your rebate check.

According to the IRS, everyone eligible for a check will receive a notice shortly after your payment has been issued that explains how your payment was calculated. If you're someone whose payment was reduced to offset back taxes or other debts, you'll receive a separate notice from the IRS a couple of weeks after you've gotten your rebate check and first notice. Make sure you hold on to any notice you receive for your records.


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sepoctgirls sepoctgirls 9 years
To find out how much you will be getting on your rebate check go to and use the stimulus payment calculator. If you owe anything for defaulted student loans or back taxes, do not expect your mailing or deposit date to be what the schedule says. My friend just talked to the IRS and they said that if you have an offset coming out, it does not get calculated until the day you are expected to receive your check. You will get your rebate approximately 10 to 14 days later than expected if you owe. This is what she was told by the IRS.
SWS SWS 9 years
Why did my husband and I only get $1014? We thought we would get $1200. We don't have kids or any debts including student loans!
jimmalou1978 jimmalou1978 9 years
The amount will also be reduced by the amount of child tax credit you got in 2008. Ours was reduced from $1500 to $928, and the amount it was reduced by was exactly the amount of our child tax credit. Blah. That's something that they didn't tell you would happen!
Nyrina-Windu Nyrina-Windu 9 years
I'm glad that they will be taking it from deadbeat dads and taxpayers. These people should be glad the government didn't debit $300-$600 or more out of their bank accounts or monthly paychecks. They shouldn't be complaining at all that they recieved less or nothing at all. In a way they're getting off easy with the government doing that too them.
j2e1n9 j2e1n9 9 years
Already got mine in full. Whoopie! Altho I got a good laugh out of this: "...if you owe federal taxes from previous tax years or have other debts you owe such as a student loan or child support, those uncollected amounts can be taken from your rebate check." :ROTFL: Deadbeats.
linb linb 9 years
@kythera: This is from the IRS website: What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return. Another page on the IRS website lists the following: Q. Is my stimulus payment taxable? A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment. Q. If my stimulus payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received? A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [New 4/11/08] Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008? A. No, the stimulus payment will not reduce your refund or increase the amount you owe when you file your 2008 return.
dtinah dtinah 9 years
I was one of those people who didn't read the fine print with Turbo Tax. They way it was explained to me was if I paid the Turbo Tax fees up front, I would have gotten my money by direct deposit. Because I choose to get it taken out later, it is going to be sent in the mail. Basically the "bank" (loan company) Turbo Tax uses is considered 3rd party and the IRS never sees our bank information on our filed paperwork.
lindaloo lindaloo 9 years
I really hope that the reason I haven't seen mine yet is b/c of filing w/TT and paying the fee online. I know others who did the same though and they got theirs last Friday through direct deposit! Hhhhmmmmmm....
kythera kythera 9 years
What we plan on doing with our stimulus/surplus check: Me: glasses (then finally get license!!!) paying on this damn verizon wireless bill bathing suit Husband: new computer and(he's also going to take me out to a really expensive restaurant) teehee 8)
kythera kythera 9 years
Yeah, and we also get taxed next year for this rebate check. Sounds like this isn't as good as I thought it was going to be. Go figure, what else can we expect from our wonderful *cough* government? On the other hand, it's a good thing me and my husband don't have any debts or anything like that. And yeah, our receiving date got pushed back to June. AAARRRRGGG. 8)
tiffanyfuchsia tiffanyfuchsia 9 years
What happens if you used TurboTax to complete the paperwork but then mailed it in instead of filing electronically? This would mean there was no fee. I can't seem to find the answer to this question anywhere.
ilanac13 ilanac13 9 years
i just realized that i got my stimulus check...i was wondering why my acct balance seemed high and thought that my rent check hadn't been cashed yet. :) oh well. good to have free money i guess.
phenix1 phenix1 9 years
sweetpeabrina sweetpeabrina 9 years
I got my letter today and I got the same amount that they deposited. Thanks for reiterating that I need to hang on to that letter, Savvy!
Britni_Marie Britni_Marie 9 years
I only got $300 instead of $600 aswell; but it better than nothing I guess.
dcfashionista dcfashionista 9 years
I received mine and it's going towards rent.
aimeeb aimeeb 9 years
I don't believe this affects me. :)
lawchick lawchick 9 years
I think student loans would only be taken out if you were in default
heineken67 heineken67 9 years
I got my refund deposited last week. No letter explaining the amount, and nothing taken out for student loans.
shanimalcracker shanimalcracker 9 years
Wow, I guess more and more changes with these rebate checks everyday it seems!
linb linb 9 years
I'm confused about the student loan part - I still owe about $5k for my loans. I hope they're not going to take my $600 and give it to Sallie Mae.
MindayH MindayH 9 years
still wish I was getting as someone who isn't and doesn't think that economic stimulus checks are going to help our economy at all, I am glad that the gov't is at least not giving (the full amount or any) money to people who owe in the first place.
bellaressa bellaressa 9 years
Thanks for the info Roarman, I was wondering why I have not received mine. No biggie, I can wait. Weird, I know people who received letters saying they were getting $600 and then got direct deposit of $300.
emalove emalove 9 years
Thankfully this doesn't affect me.
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