April 2, 2008
Economic Stimulus Plan Is Already Working…. for some.
The income tax rebate checks from the U.S. economic stimulus plan require filing a 2007 income tax return, required to be filed by most no later than April 15th.
An accountant we know told us that he is absolutely swamped right now — to the point that he is currently unable to take any new business. He is even getting paperwork from people and businesses whose tax filing dates are later in the year.
Since he’s busier than he normally is during tax season, it makes sense that other tax preparers are as well — getting a bit of a boost in business as a result of people wanting to make sure they get their checks.
Comments on "Economic Stimulus Plan Is Already Working…. for some." »
teeni @ 10:44 pm
Hmm - interesting. I can’t find the link now but I thought I also read somewhere that some of the checks may be sent out late so people shouldn’t spend the money as if they have it already.
Mike Goad @ 6:18 pm
I think most folks that file a tax return can count on it. But, you’re right. There’s no telling when it’s going to arrive. Spending anything before you have it often results in it going on a credit card, so what you bought ends up costing more, since most people don’t pay down their balance each month. Of course, the spending would be great for stimulating the economy, but I think most folks are going to be a little careful in spending their rebates. I don’t think the economy will get as big a boost as the lawmakers are saying.