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Now that we are happy with our tax rebate or whatever it is


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Why would you have to pay in April?

 

This is an elimination of the tax of the first $10,000 of income. A one time deal. It isn't really an advance of what you would normally be receiving in a refund.

 

We usually make it to pay nothing owe nothing.

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anyone adjusting their w4 so you will break even and not have to pay extra next April?

 

 

No need to adjust anything.

 

From the IRS notice: "You will not be required to report the amount of your stimulus payment as taxable income on your 2008 federal income tax return. If you receive any federal benefits or federally financed benefits, those benefits generally will not be affected by any stimulus payment you receive."

 

and

 

"Note: You will not be required to report the amount of your stimulus payment as taxable income on your 2008 federal income tax return."

 

The same info is available on irs.gov

 

HTH

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