My stimulus payment notice arrived

[Aleta]

Well, the dreaded letter they said would arrive came today. I say dreaded because a lot of people see an IRS letter and get the dreads. I just went to the mailbox and there it was. The notifcation from the IRS that they would begin sending the payments in May and the rules for receiving it.

They also say that all individuals receivin payments would receive a notice and additional information shorly before the payment is made. They also ive you their website to get more information.

[disneysteve]

I'm not sure if it is true, but I heard that sending out those notices cost the taxpayers $42 million. No matter what it cost, it is too much. Why send out notices? Just send the checks. Nobody will complain.

[vsjhoc]

Certain recipients of Social Security and Vets benefits qualify for the stimulus payments, but they will only get it if they file a return.

Normally, they don't need to file an income tax return, so the IRS sent a notice to the 20.5 million people who receive those benefits to let them know they must file a return.

As for the rest of us, I think the IRS is sending the notices to clear up some of the confusion. For what seems like such a simple process, there is a lot of misinformation.

[jeffrey]

And everyone beware...as with everything that involves money, it's only a matter of time before you begin receiving notifications by email and phone that you need to turn over personal information to get this rebate from scammers...

[simpleyme]

i read on another forum to expect the letter I warned my DH about it , an unexpected letter from the IRS might give him a heart attack ;-)

[vsjhoc]

They should send post cards. People might read them rather than tossing the unopened envelopes. Plus it would have saved a lot of postage and production costs.

[jc3900]

Man, this stimulus package is so stupid. First of all they are only giving back 600$-1200$ to those who make under a certain income. If they are going to give back money, then EVERYONE should get some money back. Second, if the government recognizes that giving people some of their money back spurs the economy, then why don't they just lower taxes? Third, why does all the government care about is spending. Why don't they want their citizens to save.

[project15]

1. But the richer the person is, the less likely they are to spend this money since they already have money to spend. The gov. is hoping the middle class spends it

2. lowering taxes is not the same as having 600-1200 burning a hole in your pocket. People won't be as inclined to spend money just because sales tax is lowered by 1% for a couple months.

3. Spending boosts the economy NOW which brings growth and more money. savings is more of a long term benefit for the individual

No, I don't really support this stimulus package as it's a waste of money and yes, I'm going to save mine.

[disneysteve]

why does all the government care about is spending. Why don't they want their citizens to save.

I don't really support this stimulus package as it's a waste of money and yes, I'm going to save mine.

Really, when you think about it, saving is supporting the economy, too. Unless you keep your money stuffed in your mattress, saving and investing supports the economy. The money you put in the bank gets used to make loans to other customers to buy homes and cars, renovate existing homes, purchase and expand businesses. The money supports the bank, it's employees, the building of new branches. Money you invest through brokers or mutual fund companies supports those companies and employees.

Money saved doesn't just sit there. It recirculates throughout the economy. Maybe you don't spend it at Best Buy, but the broker or bank teller or janitor might.

[aida2003]

They also say that all individuals receivin payments would receive a notice and additional information shorly before the payment is made.

Since the gov't wants us to spend the money, maybe the next notice will be instructions where to spend it.

[aida2003]

3. Spending boosts the economy NOW which brings growth and more money. savings is more of a long term benefit for the individual.

I don't really believe it will boost the economy as much as the gov't hopes. I'm sure hoping it will not create another bubble that would affect everyone long term. It amazes me how all those experts in the WH and Congress think SHORT term.

I agree with DS that saving also benefits country's economy.

[Aleta]

I'm sure that the money will help those with children starting school in August or September because it will start being sent out in May. There will definitely be people who will spend it.

Like Steve Says saving is helping the economy as well. Also, if you're in debt; the money will go into reducing the debt.

The envelope they sent was very thin and the type that you have to tear apart. It was difficult tearing it because the perforations weren't right.

[jc3900]

Ok, I just got one of these things in the mail. In this last year, I think I was put down as making some where in the 3000$ range. Does that mean that I am going to get a check?

[sweeps]

Ok, I just got one of these things in the mail. In this last year, I think I was put down as making some where in the 3000$ range. Does that mean that I am going to get a check?

If you earned $2,999, you get nothing. If you earned $3,000, you'll get $300 -- unless you were claimed as a dependent on your parent's return, then you get nothing.

By the way, the dollar sign goes before the number.

[jc3900]

Dang!