Economic Stimulus – Bush Scams Us

I have a bit if unfortunate news for many people who are waiting on their stimulus payment from the Bush administration. Big surprise, they failed to provide the public with vital information that would become crucial in making life decisions.

Did anyone read the fine print? I just did. You see we were wondering when we would see the money so R went to the IRS website. It turns out that if you happen to be one of the millions of Americans who owe on student loans, child support, or taxes you won’t be getting that package after all. The money, instead of coming to you, will be applied to your debt. So, personally as a person who has student loans, I’m screwed. How about you?

Here’s how you can know whether or not you’ll actually see any of that promised gold. If you have received a written notice from the IRS then you should be good to go; otherwise…forget it. The following is an excerpt from the IRS website in regards to the stimulus package – read it and weep people.

Some taxpayers may receive smaller economic stimulus payments than they anticipated. By law, the stimulus payments are offset to satisfy past-due taxes, student loans, child support and certain other debts.

The IRS will send notices to taxpayers who have already filed a 2007 tax return and who are eligible for an economic stimulus payment. This notice will serve as an important recordkeeping document and should be retained by taxpayers. By keeping people informed, the IRS hopes to reduce calls to customer service representatives who are still busy helping taxpayers complete tax returns

http://www.irs.gov/newsroom/article/0,,id=181972,00.html