Bidioits stimulus money

[jedi]

From what I understand the money is sent separate from the tax return. The state tax return doesn't have a line item for the surplus.

Do you have any additional info on this?
I recall back in the late 90s I got a check from Indiana for $32 which was back of the state giving back surplus money.

Will it be something like that expect maybe direct deposit this time around?

 

[Leo]

In the 1988 presidential election a guy named "Pete" Dupont was running on flat rate tax and ending subsidies.

I was against a whole lot of Dupont's other views, but I still would like to see a flat rate tax. It could be filed on a 1/2 sheet of paper. How much did you make? Multiply by the flat rat percentage for how much you owe, include check if you paid less than that.

I have been through the whole W2 wage slave, unlimited partnership, limited partnership, small corp, rental property and self employment tax filing. I am tired of my tax paperwork being thicker than a Master's Thesis. And 1/2 the politicians that owe huge sums are never required to pay.

I know a man my age that has NEVER filed his taxes. He always works for a company that takes taxes out of his wages. He says the bean counters are supposed to get the numbers right, it s not his job to correct them. He has never been audited. A different view than most, but I really do not blame him.

 

[DoggyDaddy]

From what I understand the money is sent separate from the tax return. The state tax return doesn't have a line item for the surplus.

Ah, thank you! I didn't realize that. I thought I heard on the news that people would be getting larger state refunds (or less tax burden if no refund) because of it this year. They may have been wrong or I may have misunderstood. I've slept since I heard it.

 

[jedi]

Didn’t get a child tax credit

???
So your $1400 3rd stimulus check is being taxed? How so?

There is no line item under the income side to put the $1400 you got.

Granted everyone's tax will have to go up eventually as thr .gov will need to recover that money at some point. But that is a whole different topic

 

[1nderbeard]

Do you have any additional info on this?
I recall back in the late 90s I got a check from Indiana for $32 which was back of the state giving back surplus money.

Will it be something like that expect maybe direct deposit this time around?

The $125 refunds would be sent by direct deposit or check depending on how the taxpayer files their state tax return, the governor’s office said. Those payments are anticipated by May 1 to taxpayers who meet the 2022 tax return filing deadline of April 18.

Indiana officials plan $125 refund to taxpayers from surplus

INDIANAPOLIS (AP) — Indiana officials are working on a plan that the governor’s office said Wednesday would result in taxpayers receiving $125 refund payments from the state’s growing budget surplu…

wgntv.com

this looks like some kind of automatic direct deposit/mail to taxpayers this year.

 

[Leadeye]

Tax accountants and law firms would all go hungry if taxes were uncomplicated. They are among Chuck Shumer's chief contributors.

Always follow the money