The Stimulus Package: Info Please

[6ftladycop]

Does anybody really know the in and out of the stimulus package that will be mailed from the government soon? There are so many different versions that I am completely confused. I figured the best place to find out about money given all of our circumstances with bankruptcy is to ask you guys.

[Flamingo]

We just got the letter they mailed out to every yesterday....doesn't give a set amount of the rebate just that it may be up to $600 for a single filer, $1200 joint; $300 for any child that is listed under the child credit (16 and under). If someone is claimed as a dependent on your tax return (except for the child(ren) I state in the previous sentence) they do not get a rebate. So my daughter in college (age 20) who we claim as a dependent but who made $11,000 last year working parttime will not get a rebate.

[funEface]

Shows the dates payments will be made

http://www.irs.gov/newsroom/article/0,,id=180247,00.html

IRS Calculator shows if you qualify and how much you should get back (provided you enter the info correctly)

http://www.irs.gov/app/espc/start.do

[6ftladycop]

Hey I just checked on www.irs.gov and put in my tax information from my 1040 2007 taxes under Stimulus Package and they informed me that based on their calculations, I should anticipate a direct deposit on Friday 5-2-08 of 1200.00. I was so excited, but what is the catch....got to be one?

[justplaintired]

Hey I just checked on www.irs.gov and put in my tax information from my 1040 2007 taxes under Stimulus Package and they informed me that based on their calculations, I should anticipate a direct deposit on Friday 5-2-08 of 1200.00. I was so excited, but what is the catch....got to be one?

No catch, were just suppose to stimulate our economy, that's why anyone filing BK should surely be allowed to keep our checks, how else are we going to help stimulate it? Obviously if we are in BK we don't have enough money otherwise to stimulate it!

[Flamingo]

No catch, were just suppose to stimulate our economy, that's why anyone filing BK should surely be allowed to keep our checks, how else are we going to help stimulate it? Obviously if we are in BK we don't have enough money otherwise to stimulate it!

Unfortunately while one is in Chapter 13, as we found out going through ours, any income or money that comes in during your Plan is under the control of your Trustee and it's up to them and any district decision as to whether or not you get to keep the stimulus check. Many will get to keep it, many won't. Unfortunately, that is just the way it is and one of the reasons Chapter 13 is not a "walk in the park." There were days we had to scrape for gas money to get to work but believe it or not, you do survive and will look back and wonder how you actually did it.