Talk about confusion, I just recently received a letter from the IRS informing me that I would be receiving my stimulus check for $1323. and some change on the 13th of June. The letter arrived on June 13th, and since I had included my checking account routing number and account number on my return, low and behold there was no deposit in my account on the 13th. What a surprise, no not really. You see you have to read all the details of the stimulus program completely, and understand who will actually be receiving these too little too late checks. What's even more confusing is that according to the tax software I used to prepare my taxes, the amount I was to receive was $1181. and some odd change. According to the guidelines we should be receiving $1500. as we filed jointly with one eligible dependent. Since we were to receive a refund of $389. I figured that it was deducted from the amount of the stimulus check. Now with the letter I received from the IRS, you can see where the confusion comes into play. If you add $1323. plus $389. it totals over $1700. so where does that total come from, I'm not sure.
As to why I haven't received the check, I can only assume that since we owe the IRS for back taxes, and have been paying them on an installment contract that they have decided to put the money towards what we owe, which combined would mean that they would only owe us a total of a little over $100. It seems the only way I am going to know for sure is to contact the IRS and speak with a live person and find out. However, since we have been paying them $100 a month in accordance with our agreement, I don't understand why they wouldn't at least release the stimulus check to us. I can see them applying the refund towards that balance, but since we have a contract in good standing with them it dumbfounds me as to why they would keep the stimulus check since it is intended to stimulate the economy now. It's bad enough that I and many Americans believe it's too little too late, but something is better than nothing. I intend to use the money to pay off debts and to catch up on already past due payments, not to get further into debt or squander the money foolishly.
It was also my understanding that we had to declare the money as income on next years tax return, but not so according to the letter I received. It clearly states that we do not have to declare the stimulus check as income on next years return. Again talk about confusion. I guess the best place to check for the real scoop is the IRS website itself, and not all the media hype about these checks. I am so tired of all the nonsense and misinformation circulating around these checks, and now on top of everything we have to watch out for scammers looking to literally steal this money from us hard working stiffs, just trying to catch up, and maybe get a little bit ahead. The last thing we need is for someone out there who is nothing more than a thief getting a hold of money we could use to accomplish the task of paying down our debt or even in some cases getting out of debt completely. For those of you out there who are still waiting for your checks, check out the IRS website they even allow you to find out the status of your rebate checks, and if they cannot tell you the status they give you addresses and phone numbers you can write or call to find out more information about them.
I know none of us like to pay taxes, or even have any contact with the IRS, but in this case it would behoove you to do so, especially if you are expecting enough of a check that it would really help you pay off or reduce some of your outstanding debt. I cannot tell you how much a $1300. plus check would help us out right now, I might even be able to come close to catching up on my past due car payments and avoid repossession.
