ReAnn Rothwell’s Money Saving Ideas, Tax & Organizing Tips

Economic Growth Act Information

The Internal Revenue Service has released additional information  about the upcoming economic stimulus payments in a specially designed section for taxpayers. Last updated March 10th.  Click HERE

IRS Facts about the 2008 Stimulus Payments and how to figure out how much you are going to be receiving back.  Click HERE

The Montana Dept. of Revenue has added updates to their website regarding the federal economic stimulus payment.  This includes a discussion on state taxability of the payments.  The link is HERE .

Look on/Google other state’s Departments of Revenue and Tax Departments for your state’s information. However, I think they are all going to be treating the Stimulus Payments pretty much the same. If you itemized all or at least part of the payment is going to be taxable. If you did not itemize on your state tax return, the Stimulus Payments will not be taxable.  

The IRS is warning taxpayers to be on the alert for scams to obtain personal and financial information, using the economic stimulus package as bait.  These scams may attempt to gather this information by advertising advance payment of the economic incentives.