Tax Relief 2

I think I get it now. The $600 check we got in August was a tax credit prepayment and does represent a net gain of $600 over tax year 2000. So the money doesn't come out of our refund after all, we just got it early. Anybody who didn't get a tax credit check last summer will be able to deduct it on their 2001 taxes in April, anybody who did get a check and tries to take the credit again will be screwed. My wife and I both thought the check was a repayment of taxes that we paid in 2000. Our friends all thought the same thing. I look forward to seeing mass confusion and ager this tax season.

in states that you deduct federal taxes then compute state , you now have a state tax to repay on it. nothing is free from you know who. he wanted instant approval and now he should get instant disapproval.

We have no state income tax in Washington, so I was unaware of that. It'll be kind of like a terrorist blowing himself up on accident when this goes off in Bush's face. I'll enjoy watching it. The news channels here are beginning to report on the confusion over the prepayment checks already, so we shouldn't have to wait long.

The $60,000 check the guy in the limo got was just the first of many. It's the smallest he'll get, too.