If it seems too good to be true, it probably is.
Keep that adage in mind this tax season. There are a number of scams floating about which purport to get you more cash, faster. You should keep in mind that the government doesn’t use “middle men” to get you a refund faster or to increase the amount of money that you might be entitled to. All of those ads on sites like Facebook and others with wads of cash and Obama’s picture on them? Despite what they claim, they are not associated with any government-mandated stimulus plan. My advice: stay away from them.
If you don’t believe me, consider this warning from the FTC:
Web sites may advertise that they can help you get money from the stimulus fund. Many use deceptive names or images of President Obama and Vice President Biden to suggest they are legitimate. They’re not. Don’t fall for it. If you do, you’ll get scammed.
If you’ve already been affected, you can file a complaint in English or Spanish by calling 1-877-FTC-HELP (1-877-382-4357) or filing a complaint online. For more information, visit the FTC web site.
Taxpayer asks:
I was told by “somebody” that the stimulus checks we received will be deducted from our tax refunds for 2008? Is that true?
Taxgirl says:
Nope. The tax rebates are not taxable and will not be credited against your 2008 return – unlike the 2001 rebates which were credited against the 2002 returns. There was some initial confusion about this – even CNN reported it differently, but that has since been cleared up.
I haven’t seen the 2008 returns yet but my understanding is that you will report the amount received on your individual tax return. This is ostensibly to make sure that everyone got their fair share (insert throat clearing here). The IRS says that the 2008 tax instructions will “include a worksheet to help those who did not qualify for a payment or those who received a reduced amount determine if they can obtain a benefit when they file their 2008 tax returns next year.” My cynical take on it is that the IRS wants to make sure that everyone files – again.
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.
Have a question? Ask the taxgirl!
