Rebate checks

Does anyone know if these rebate checks are just a "prepayment" on next year's refunds? I've heard some people talk about how this is just an advance on next year's returns and that we'll owe any extra above and beyond what our actual return is next year. DH and I NEVER get that much back from our returns, so I'm a little concerned about using it if is just an advance on something I wouldn't get anyways and I'll have to pay it back. I don't want a loan...
 
Liann, my understanding is that it is NOT a prepayment on next year's refund and will have NO bearing on your taxes for next year. At least that's what the documentation that we got in the mail said...
 
This is a rebate. A refund on money you already paid. It is not an advance on next year's tax refund.

That's good that you don't get too much back for the normal refunds. Means you're not loaning money out to the government at 0% interest! :)

April
 
Phew! Thanks guys! :) I was sure they would try to stick it to me somehow. Now, what to spend it on... I mean "how to best stimulate the economy". ;)
 
DH and I "stimulated the economy" (of Sweden) by buying a new IKEA bed. Oh, and we "stimulated the economy" (of Korea) by buying a new Samsung LCD tv. :p Methinks these rebate checks will not do much to stimulate the US economy... oh well.
 
>DH and I "stimulated the economy" (of Sweden) by buying a new
>IKEA bed. Oh, and we "stimulated the economy" (of Korea) by
>buying a new Samsung LCD tv. :p

I'm going to be "stimulating the economy" of Belgium and Paris when I use my rebate to help pay for part of my trip this summer. ;-)
 
Well, my family will be 'stimulating the economy' when we go to Florida in June. My parents are sending us to Florida for a week as a graduation present to me and so we are going to use our rebate check as spending money while we're down there!
 
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