Toledo Talk

Stimulus Payment?

Hi, we got a stimulus check last year, are we supposed to get one this year? I already filed my income tax for this year and have my refund. I just wondered are we supposed to apply for the stimulus again or is it just going to start appearing in our paychecks?

created by ilovetoledo on Apr 14, 2009 at 10:57:31 am     Comments: 18

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I think the relief was to be in withholding.

This year was MUCH better than last for me and taxes... thank god.

posted by toledolen on Apr 14, 2009 at 11:02:41 am     #  

Yes, the tax credit is to withholdings which should be adjusted by your payroll department, otherwise you could receive it as a lump sum payment when computing your 2009 income taxes. Should check with your payroll department to ensure that they are managing the issue correctly as a dollar today is worth more than a dollar a year from now (if the dollar is worth anything a year from now).

posted by JJFad on Apr 14, 2009 at 12:00:41 pm     #  

You should start to see your 13.00 a week! But remember, you will probably loose it when Obama allows the Bush tax cuts to expire.

posted by KraZyKat on Apr 14, 2009 at 12:22:01 pm     #  

Unless you have capital gains or dividends, then the expiration of the tax cuts would have no effect on a person next year. So, there will be no loss of the tax credit by most people.

The tax cuts that expire in 2011 would hit many people, but I doubt that those tax cuts that expire in 2011 and relate to child credit, marriage standard deductions, etc. will be taken away since it is before an election year.

posted by JJFad on Apr 14, 2009 at 12:32:10 pm     #  

Or you can be one of the luck stiffs like me who work nearly 40 hours a week at a minimum wage job who now are screwed because we make so little that Federal taxes are no longer taken out of our checks. The fun part is that I make so little, yet at this rate will make approximately 15K this year. Won't that be nice to report on my taxes next year? 15K without a penny of federal taxes take out of it! BITE ME OBAMA!

posted by justsimplyholly on Apr 14, 2009 at 03:47:26 pm     #  

I guess I am missing something. Why would you WANT Federal taxes taken out?

posted by Ryan on Apr 14, 2009 at 03:57:05 pm     #  

How is the matter of taxes not being taken out of your check Obama's fault? Wouldn't you put aside some of your earnings knowing that you may have a tax bill at the end of the year?
I do not have taxes taken out of my earnings because I choose not to give the government an interest free loan. At the end of the year I have to ante up a portion of what I earned.

You're bitching about this why?

posted by JJFad on Apr 14, 2009 at 04:18:48 pm     #  

A quick computation on the tax software shows that you would owe $608 at the end of the year if you are single, not head of household and paid no federal taxes. Is it really that difficult to stash away $11 a week?

posted by JJFad on Apr 14, 2009 at 04:25:18 pm     #  

^^^ based on the 15,000$/year wage

posted by JJFad on Apr 14, 2009 at 04:26:37 pm     #  

Or you could have your employer bump up your withholding.

posted by prairieson on Apr 14, 2009 at 05:33:18 pm     #  

I've already seen mine and it amounts to $50 extra a month in my pocket. lovely. just when I get back into Magic: The Gathering, lol.

posted by nana on Apr 14, 2009 at 08:57:57 pm     #  

I "want" at least a small amount of Federal taxes taken out of me so that I don't end up paying in. Although my wages only equal to about 15k, even that without federal taxes taken out isn't a good thing.

It's on Obama because he is the one that "changed it up" so that we would see more coming in our weekly pay checks, VS having it taken out. I'm sorry that I'm not a walking money bag and can't hold back the money so that when I have to "ante up" I can afford it. And I'm bitching about it because I can! Minor changes like this right now make for big problems down the road for me. Yes, my financial difficulties are my problem, but even this minor change messes things up for me. I'm not in the financial position to be able to pay out a few or several hundred dollars to the government. And even now, knowing that I'll probably have to pay in when I file next year, I still am not in a position to be able to put anything back because right now, I'm not even making enough to make my bills, so I play the juggle game choosing which bill to put off for an extra week and which one takes precedence. Yes, they all do eventually get paid, but there are days where I sit with baited breath hoping everything shuffles just in the nick of time.

For what it's worth, I'm not at all against Obama or any of the things he's done. I understand this change does put more money in peoples pockets now, which is a good thing. If you don't like my "bitching" or don't understand what my problem is, then don't read my comments, it's as simple as that. But until you're in my "shoes", you have NO clue what I'm going through or what something this simple means to someone in my position. And for what it's worth, I'm not single, and I'm not the head of the household. I'm married with children, and my spouse has been out of work for almost 8 months now, struggling like hell to find a job in an economy where everyone is trying to find a job. He's applied to everything he can get his hands on, yet because of the hundreds of others who have also applied, someone else ends up being the more qualified applicant. But we do our best with what we have. We don't have expensive car payments, we don't have credit cards or loan payments and we don't blow money on stupid shit.

And prairieson, my withholding/exemptions are set at "0" right now, so there's nothing more that they can do. My employer contacted corporate payroll to double check about the federal withholding, they've received numerous calls from employees about this and while they understand peoples fears, they're simply following the new tax rules.

posted by justsimplyholly on Apr 14, 2009 at 11:21:51 pm     #  

OK I don't have software to do "quick computations" but common sense tells me that if you're supporting a family of 4+ on $15,000, once you do your deductions on your 2009 taxes, assuming you claim the children instead of an ex-spouse or whatever doing it, you can't possibly have to owe hardly anything. Your AGI is going to be, like, almost negative dollars isn't it? Unless you've got a heck of a lot of investments earning you money or something! Even with your husband's unemployment, the first $xxxx isn't subject to tax, which is another new thing this year. (Sorry I don't recall the figure on that.) But if he's already been on unemployment for 8 months, even with the recent extensions, his benefits are going to probably run out in 2009 before he hits that amount, which sucks for your day-to-day but it should also mean he won't have tax to pay on whatever he collects during this calendar year.

The situation changes if/when your husband gets a job, especially if he a gets a good-paying one and it's during the first half of the year, because that'll affect your family's AGI and yes, then, in fact you will probably get screwed and have to write a check. If you file jointly. But in this case you might want to work the numbers next year and see if filing married-separate helps.

I'm sorry Holly. I really have been there, when indeed $11 a week WAS beyond reason or possibility to stash away. Just keep on keepin' on, doing your best, and everybody else can go to hell if they don't "get it."

posted by jmleong on Apr 15, 2009 at 02:50:06 am     #  

If you have children and you're married then there should be no reason to take out taxes on $15,000 earnings. At $15,000, married and one child you should receive a refund of almost $3900 if you paid no federal taxes. More than one child, and your refund will increase.
Let me know if someone has been calculating your taxes and showing that you owe money because I know plenty of tax people in the area that can get your taxes done correctly.

posted by JJFad on Apr 15, 2009 at 07:48:23 am     #  

P.S. The don't read the post argument is two-fold. If you don't like the reply, then don't read it.

posted by JJFad on Apr 15, 2009 at 07:54:34 am     #  

You can have additional withholdings taken out, beyond the "0".

posted by prairieson on Apr 15, 2009 at 07:59:58 am     #  

Not to be rude, but the POTUS cannot make decisions based on an individuals inability to save. He did that to HELP people, not hurt them. I like you and your posts Holly, but that one is just out there.

posted by Ryan on Apr 15, 2009 at 08:06:50 am     #  

I don't understand why anyone making less than a quarter million dollars would be upset. Largest tax cuts in history — meaning 95% of the working population — and I'll speak for myself in saying it's been a far better year versus '08. You can't please everyone, though.

posted by toledolen on Apr 15, 2009 at 07:04:22 pm     #