Ask the taxgirl: Will the rebates affect my tax due?
Taxpayer asks:
We thought we’d get an early start on taxes this year, but it didn’t happen. My husband and I used Turbo Tax to do our taxes (we also have two young children) and at first, it said that we owed $1200 or something like that. So, we waited until last minute to redo the taxes and now we’re getting $300 back. Is the stimulus economic refund check the reason we’re now getting a refund back? Not sure if this stiumulus refund check can affect us for this tax season already? Pls advise.
Taxgirl says:
Um… I’m not sure what happened but it is not be related to the rebate. The rebates will not affect your 2007 liability - you can read my prior post on 2007 liability and rebates here.
I’d run an error check and confirm your information - a $1500 difference is quite a difference if you didn’t change anything. But the difference is not related to your rebate.
Your rebate, assuming that you have no issues that would affect the amount, should total $1800.
Like any good lawyer, I need to add a disclaimer: Unfortunately, it is impossible to give comprehensive tax advice over the internet, no matter how well researched or written. Before relying on any information given on this site, contact a tax professional to discuss your particular situation.
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1 opinion for Ask the taxgirl: Will the rebates affect my tax due?
Craig
May 16, 2008 at 12:14 pm
Hi Taxgirl .I too use turbo tax .I love it I call the IRS they told me the 19th of May , it came and gone , Now they say What ? may 30th I can’t wait that long .
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