I believe that most of us assumed that the stimulus checks we received earlier this year were considered to be “tax free.” But I was surprised when I read through my new Oregon Tax booklet that we must deduct the stimulus amounts from our federal tax liability before figuring out our Oregon taxes.
This would mean, based on a 9% tax rate, that a family of four would deduct the $1800 they received from their liability that they would either owe, or have their refund reduced by, an additional $162 in taxes this year.
I doubt many of us expected that to happen. It seems the state just couldn’t let that federal money slip by without getting their 9% portion of it.
A web site explaining this is here:
http://www.oregon.gov/DOR/PERTAX/faq-fedrebate.shtml
Dan Thompson
This article appears in Jan 8-14, 2009.
MAKE LOCAL JOURNALISM HAPPEN
Republish our articles for free, online or in print, under a Creative Commons license.
Expect to see more of your money dissappear with the Demorats in charge!!!
His dad tried to cure the 1990 recession with the smoke-and-mirrors trick of cutting WITHHOLDING to put more money (temporarily) in people’s pockets. Surprise, surprise… a nasty one at that, as folks discovered that they hadn’t had enough withheld to cover their taxes.
You have to claim your tax refunds every year. This is no different.
“Expect to see more of your money dissappear with the Demorats in charge!!!”
Pleeeaaase Jed, call up your republican buddies and have them return all the money that has been scammed and wasted on the war in Iraq. The country could certainly use it. I think that the people that put the Bush regime in office should shoulder the debt of the war and those of us that voted otherwise be left out of the finacial debacle the Repugs have created.
Let’s just say that the state could have followed the lead of other states, like Iowa, and make the rebates un-taxable…..
dodgebalz: Those of us who helped elect Bush already pay the majority of the taxes paid in this country. Bush helped to keep this country safe, lets see how Obama does.