Discussion:Is Rebate Taxable Income

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Revision as of 05:29, 7 March 2008
The Guy (Talk | contribs)
(Even its not inc)
← Previous diff		 Revision as of 17:27, 7 March 2008
Murrsg07 (Talk | contribs)
(IRS says it won')
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{{ForumReplyPost|UserID=The Guy|Date=7 March 2008|Text=Even its not included in the CA gross income, the portion we are receiving currently or in the month of May for the rebate is a 2008 estimate. So if we receive more then we should have; we don't have to pay it back, but if we receive less then we should have, we will be credited it in 2008 (the difference) }} {{ForumReplyPost|UserID=The Guy|Date=7 March 2008|Text=Even its not included in the CA gross income, the portion we are receiving currently or in the month of May for the rebate is a 2008 estimate. So if we receive more then we should have; we don't have to pay it back, but if we receive less then we should have, we will be credited it in 2008 (the difference) }}
 +
 +{{ForumReplyPost|UserID=Murrsg07|Date=2008-03-07|Text=IRS says it won't reduce your 2008 refund nor it will increase what you might owe. }}

Revision as of 17:27, 7 March 2008

Discussion Forum Index --> Advanced Tax Questions --> Is Rebate Taxable Income
Discussion Forum Index --> Tax Questions --> Is Rebate Taxable Income

CalifCPA (talk|edits) said:

7 March 2008
Although it seems that the rebate should be taxable to those taxpayer who never pay taxes, California announced today that the rebates will not be included in California gross income.

The Guy (talk|edits) said:

7 March 2008
Even its not included in the CA gross income, the portion we are receiving currently or in the month of May for the rebate is a 2008 estimate. So if we receive more then we should have; we don't have to pay it back, but if we receive less then we should have, we will be credited it in 2008 (the difference)

Murrsg07 (talk|edits) said:

2008-03-07
IRS says it won't reduce your 2008 refund nor it will increase what you might owe.
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