Does 2008 Stimulus payment effect your tax returns?

Most people while filing for 2008 tax returns, when filing all the income they made, start to wonder if they should include the stimulus money they received during 2008 (bush administration).

The answer is; is should NOT be included as income (- IRS)

Here is the information relating to this topic extracted from IRS.gov.

"Most people received the maximum Economic Stimulus Payment in 2008. However, some people may be eligible for a first time credit or for a larger payment than they were eligible for last year.

This amount is called a Recovery Rebate Credit . You'll need to have the amount of your Stimulus Payment from last year so you can figure out whether or not you're eligible to receive this credit.

How Can I Find This Amount?
To use our secure online tool to find the amount of your Economic Stimulus Payment from last year, you'll need the following information from your 2007 tax return:

* Your Social Security Number
* Your 2007 Filing Status
* Number of Exemptions claimed on your 2007 tax return

Take me to How Much Was My 2008 Stimulus Payment? "

Economic Stimulus, rebate calculator

Recovery rebate calculator is to be available on IRS website soon. The link to check back is http://www.irs.gov/individuals/article/0,,id=187383,00.html

Goverment grant for tax payers: EXPOSED by aP

Deemed important to address today, so called highly-attractive and seemed-viable for the time being issue relating to possibility of receiving a portion of the recent Economic Stimulus package, we discussed on our last blog post.

With ashPresentom we try to educate the public about certain scams and plots in our Exposed series. Today’s post like wise mentioned earlier will be focused on the Government grant scam.

According to the site Scammer-alert.com website (01) if you are an American citizen you should be qualified for a government grant or part from the economic stimulus package. Although I found it hard to understand why government would want to give grants, which does not require a repayment, for the US citizens. Here is an example of one of the sites that promise you government money “grantsearch.securemediabox.com”(02) Along with dozens of these websites some seemed very apparent from the look of the site that there lies no credible background for those websites. This scam has also been heavily advertised on blog posts as well followed with comments mentioning the truthfulness of this program. This makes it extremely hard to identify whether they are lying or if it actually deem infallible. Govteconomicstimulus.com (03) is many of those blog websites.

Disclose the scam as it progress
According to consumeraffairs.com (04), scam take place explaining that there are several grants and a CD or an access code will give you the access to an online database containing these grants. Also suppose to help finding-grant process easier using this CD, had to be purchased from their sites for a small payment of $1.99. Seemed quite credible so far, the next step in the process is what urges this business or the scam, your credit card will not only be charged for $1.99 but also other fees which as said to be membership fees which you might not have exude in receiving at all. (04) Website provides greater resource of testimonies from people who had to experience this scam act.

With dozens of sites advertising these fake govt. grants it was difficult finding a website that actually spoke the truth. AshPresentom is hoping to cover important progresses in the economic stimulus package, which as of now will start rebating taxes starting from May 2nd. Please do check back our blog for these updates. Until then feel free to use the comments section for your thoughts and feedbacks.

01. http://www.scammer-alert.com/govt-grants.html?t202id=859&t202kw=government%20grant
02. https://grantsearch.securemediabox.com/?file=index_v6.html&affiliateid=EFNGFS01&sub_affiliateid=MA
03. http://www.govteconomicstimulus.com/about-me/david-brown/#comment-140
04. http://www.consumeraffairs.com/scam_alerts/grant.html

What ashPresentom's analysis and predictions of the $790B Economic Stimulus package

I am sure you are delighted to hear that on top of tax returns you will also be receiving another tax rebate from the IRS. But will it truly mean anything to the country’s troubled economy?

Specs of the last economic stimulus package $168B, January 2008 under Bush administration.


With the current economic stimulus plan in the process of being approved has a structure that holds these sections.


Tougher times as oppose to 2008 have certainly being taken into consideration in Obama’s stimulus plan. “Tax cut would be scaled back from $500 for most workers to $400, with couples getting $800 instead of $1,000.” – Associate Press.

Timely concern of these tax rebates put into action by the Treasury; during the previous stimulus package which was approved to operate in January 2008, began sending payments starting from May. So we could expect a two months drag before tax payers will be able to receive the rebates. IRS will be using the 2008 tax return to determine eligibility and calculate payment amounts. As the previous time, there IRS will have a web page deem to provide detailed information regarding tax payer’s eligibility and status check.

On the previous occasion once the plan was passed, stock market showed a relatively interesting joy while found itself hard to maintain for a long time. Here is a graphical representation of 2008 plan and its effects.

Green area represents the immediate impact after Jan 22nd, the expectations of consumer spending and expected increase in profits for companies. But the Yellow area shows the length of this high-tone of stock market. Right after that it dropped on a continuous basis.

Given this economic stimulus package has a higher value and enclose more aspects in supporting troubled assets, it might mean to the overall country’s economy more than four or five months of stimulus.

Once the plan is approved and in place, be sure to check back ashPresentom and we will post more detailed niceties and useful links.