Explaining the $400 stimulus tax rebate
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Loading ...By Zack Stein @ February 25, 2009
Some folks may be a little confused as to how this latest stimulus rebate works. Congressman Alan Grayson spoke with WDBOs Zack Stein recently to clear up any confusion.
Grayson says, basically, the stimulus rebate is already happening for you.“That’s something that went into effect the moment the president signed the bill.”
Now, it’s not a check like most of us got last year.
“The way it works is that it offsets your Social Security and Medicare payments under your payroll taxes.”
Grayson says you’ll be refunded the money up to $400 - which for most people can be reached within the next $6000 you earn. And if you aren’t seeing any money put back into your check?
“What you can do is increase the number of exemptions and make it happen that way.”
