If you owe money to the IRS, will they take your stimulus money to be repaid?
One of my co-workers said that the IRS told her daughter that they will be taking her stimulus money, due to the fact that she owes back taxes. I thought the money is ti stimulate they economy, not the government.
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July 27th, 2010 at 4:33 am
That wouldn’t make any sense. Your logic seems correct, if they take it for tax payments then it wont be spent.
July 27th, 2010 at 5:21 am
Yes.
July 27th, 2010 at 6:03 am
The IRS is not a credit card company. If you owe them money, they will take it. That’s the government for ya.
July 27th, 2010 at 6:13 am
You owe back taxes, and you’re worried you might not get you’re money so you can spend it.
July 27th, 2010 at 6:54 am
Yes, the IRS can take practically anything, even IRAs and 401Ks which cannot be touched by any other government agency, they’ll take your shorts if you don’t hide them.
July 27th, 2010 at 7:44 am
They made it clear, it’s for people who paid taxes. If you didn’t pay taxes “all” you will not get a check.
July 27th, 2010 at 8:04 am
Yes, it will be captured to pay the debt. It does “stimulate” her personal economy by reducing her debt! The government is going to get their money one way or another and the IRS always keeps refunds if you owe them.
July 27th, 2010 at 8:09 am
IRS will take the rebate. IRS has to take the money since one owes and has not full paid account. Which is a good thing because one get closer to paying off the debt.