2008 Bush Tax Rebate

China said it has raised tax incentives on more than 600 export items, with some up to the maximum level possible, as it stepped up efforts to help businesses ride out the global economic slowdown. From June 1, export tax rebates on products including shoes, toys and furniture have been lifted to between five and 17 percent, the finance ministry said in a statement posted on its website. Exports such as sewing machines and air conditioners have been given the full tax rebate of 17 percent, while rebates on items like juice, furniture and toys have been raised to 15 percent, according to the ... Read Full Story

When can you expect your money? That is one of many questions being asked about the 2009 economic stimulus rebate check. There are so many topics to consider. Let’s start with eligibility. Did you receive an economic stimulus check in 2008? Did you receive the full amount? If you answered no to either of those questions then, you may still have a chance to get a check into your pocket. If you did receive a rebate and can’t remember the amount, you can go to the IRS website to find out. Did you know this year it is called the Recovery Rebate Credit? We ... Read Full Story

Stimulus amendment puts tough limits on executive pay An amendment in the $787 billion economic stimulus package passed by Congress Friday would severely restrict bonuses and other forms of compensation for top executives at companies receiving federal bailout money. The amendment by Sen. Chris Dodd, chairman of the Senate Committee on Banking, Housing and Urban Affairs, would impose wide-ranging restrictions on how — and by how much — top executives at companies receiving federal bailout money can be compensated. The measure would cap bonuses — already often far more lucrative than base salaries for top executives — and could require executives at companies that ... Read Full Story

Last year the IRS was besieged by telephone calls regarding treatment of the 2008 economic stimulus payments. Complicating matters even further was the fact that some people who did not get a stimulus payment may still be due one, as this article by Anthony Ventre explains. It remains to be seen whether the Obama administration’s attempt at a stimulus will cause similar confusion, but it’s interesting to see how messy and complicated income taxes have become. There were so many questions stemming from the 2008 Bush administration economic stimulus package that the Internal Revenue Service had to detail extra people to answer the barrage ... Read Full Story

How to Correctly Claim the Recovery Rebate Credit on your 2008 Return The IRS sent taxpayers nearly 119 million economic stimulus payments last year. When filing a 2008 federal tax return, taxpayers will need to know the amount of their stimulus payment to properly determine if they are eligible for a recovery rebate credit. Here are [...] Read Full Story