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Re: Art?



At 08:21 AM 6/13/2001, you wrote:

> > When are they going to announce?  Prices from US to Europe are
>phenomenally
> > low and GW Bush is sending $600 our way in the next few months!!!!  I
>can't
> > stand the waiting!!!
>
>Jeff:
>
>I wouldn't count that money quite yet. Check out the Citizens For Tax
>Justice website and see what they have to say about your chances of getting
>a full rebate.

Guess I hafta wade in here . . . (sorry about the non Who content but I 
figure I'm pretty good about shutting up or staying on topic most of the 
time so I'm allowed once in a while<G>)

1) It's NOT a rebate!!! - it's an advance refund and you WILL have to 
subtract it from whatever refund you come up with at the beginning of next 
year when you figure out your 2001 taxes.  And if you don't have a refund 
you will have to repay it.  This ain't free money!  (yes I'm upset at the 
way it's characterized in the media)

2) I'm guessing that many people on this list will get the full amount.  2 
things have to occur for that to happen.  First, you have to have had at 
least $6000 ($12,000 if MFJ) on your "taxable income" line of your federal 
return - the line number varies based on what form you file but it's ALWAYS 
called "taxable income."  Second, the "total tax" line must be over $300 
($600 if MFJ).  If BOTH things are true you will get the full amount.  If 
only ONE is true you are limited to the smaller of 5% of the first thing or 
100% of the second.  For an explanation (IMO) not colored by politics I 
suggest http://www.irs.gov/ind_info/apinfo/index.html


Kathy

If you like Roger Daltrey visit my web site:
http://kathy.hispeed.com/index.html