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BigBoyToys
Pisces
HDF Supporter
Chillin' in the Pacific Northwest
  
Spokane, WA
Posts: 5,940
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Posted: Jan. 29 2009,8:32 pm |
Post # 1 |
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Here's your Government at work with YOUR money.
Did you know that if you haven't owned a home within the last 3 years and purchased one between April 2008 and July 2009 you can get an extra $7500 back on your income tax? Catch is, as it is currently written, you have to pay it back (I think like $500 per year at tax time). However, the NEW Stimulus bill says that if you buy it before June 2009, you DO NOT have to pay it back.....ever.
So, here is what is happening all over the place. My son is an accounting major in college and working for a National Income Tax prep company. People are coming in SAYING that they are going to be buying a house on a certain date, before the deadline mentioned above of course, they qualify for the $7500, and are laughing all the way to the bank without ever buying a house.
I was down there talking to my son the other day and a fella that my sons boss knows came in and said he was buying a house (Although the boss knows that is BS), the guy, who only made $16k last year, walks out of the office with a $10k income tax rebate check. He then proceeds to WALK across the street (Guy didn't own a car), and he BUYS a truck at the car lot across the street with his new found wealth!
What is the IRS gonna do? In a few years they send you a letter that you didn't buy a house and you have to pay it back? So, you are working at a fast food joint and you cut a deal with the IRS to pay back $2000 of it at the rate of $30 per month
 OBAMA=OneBigAssMistakeAmerica |
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GoFastRacer
HDF Supporter
V-Driver For Life!
  
Big River, Ca
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Spectra20
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Posted: Jan. 30 2009,4:43 am |
Post # 8 |
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With my luck if I tried to pull that off, they'd catch me in 6 months!..   
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GoFastRacer
HDF Supporter
V-Driver For Life!
Big River, Ca
Posts: 62,729
APPD 7.90
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Spectra20
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Posted: Jan. 31 2009,5:15 am |
Post # 18 |
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| Quote (BigBoyToys @ Jan. 30 2009,9:02 am) | | Quote (GoFastRacer @ Jan. 30 2009,4:43 am) | | With my luck if I tried to pull that off, they'd catch me in 6 months!.. Â Â |
Me too. Â But... Where my son works, they offer this deal that for an additional $30, they will "Insure" your tax return for up to $5000 in taxes. Â So, if the IRS Audits you and finds you owe them $$, this company will pay for up to $5k of it  Â Â $30 sounds like a deal to me  Â |
That's a pretty good deal, as long as they stand behind it!..
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WATERDOG
Gemini
HDF Silver Supporter
Don't Bother Me, I'm in Havi
MENIFEE, CA
Posts: 10,292
APPD 1.60
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ELIMINATOR EAGLE
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Posted: Jan. 31 2009,8:31 am |
Post # 19 |
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| Quote (GoFastRacer @ Jan. 31 2009,5:15 am) | | Quote (BigBoyToys @ Jan. 30 2009,9:02 am) | | Quote (GoFastRacer @ Jan. 30 2009,4:43 am) | | With my luck if I tried to pull that off, they'd catch me in 6 months!.. Â Â |
Me too.  But... Where my son works, they offer this deal that for an additional $30, they will "Insure" your tax return for up to $5000 in taxes.  So, if the IRS Audits you and finds you owe them $$, this company will pay for up to $5k of it   $30 sounds like a deal to me  |
That's a pretty good deal, as long as they stand behind it!.. |
Smoking deal. Most company's around here are charging upwards of $250 for a simple turbo tax filing.
"Damn you sure know how to fock things up."-GFR
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shueman
Libra
HDF Gold Supporter
Born To Drive...
Alta Loma CA
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APPD 2.27
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NADA
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Posted: Jan. 31 2009,6:46 pm |
Post # 21 |
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I was thinking about buying a place...  does that count...  I need the deduction...
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BigBoyToys
Pisces
HDF Supporter
Chillin' in the Pacific Northwest
Spokane, WA
Posts: 5,940
APPD 0.75
Post Rank: 12
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Posted: Jan. 31 2009,9:48 pm |
Post # 24 |
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| Quote (Purple Jurk @ Jan. 31 2009,8:24 pm) | | Where do you go or do to get this check? |
Claim it on your income tax. It is part of the Current (and also on the new proposed) stimulus. If you buy, or say you are going to buy, a house between 4/8/2008 and July of 2009, you can claim it on your tax return and get an additional $7500 back. It is on the 1040 form.
There are some restrictions, such as first time home buyer OR have not owned a home within the last 3 years. A few others too but nothing major.
I have heard of more than a few people SAYING that they are going to buy a home, with absolutely no intentions of doing so....and they are getting the $7500 extra in their refund check.
Of course, IF your intentions are all good, and you PLAN on buying a home before July, but the deal falls through and you end up not buying it....what's the IRS gonna do? Send Geithner (Owed Over $30k in back taxes before being appointed as Treasury Secretary/Head of IRS) or Tom Daschle (Current proposed Health and Human Services Secretary, Recently paid over $100k in back taxes after being appointed) after you????? These guys in DC are crooks and getting away with it for YEARS not paying BIG taxes, until they want a high paying high profile job in the Obama administration. Why not let the little guy get a tax break for a change?
OBAMA=OneBigAssMistakeAmerica |
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