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Government

Submission + - US Tax Rebate...or not? (cnn.com)

mgrussin writes: "Interesting line from this article on CNN regarding the tax rebates, http://www.cnn.com/2008/POLITICS/02...ulus/index.html. I had asked my wife sarcastically if the government would be taxing the tax rebates and I guess this is the answer... "The checks are an advance on next year's refunds, and most, if not all of the money, will be deducted from taxpayers' refunds in 12 months' time." Now, last time I checked rebate, http://en.wikipedia.org/wiki/Rebate_(marketing) meant that you get money back that you already paid, but in this case we get money back, but have to pay it back next tax year..."
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US Tax Rebate...or not?

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