IRS spending rebate cash for some filers

April 1, 2008

Wow! Talk about Big Brother. American Public Media’s Marketplace radio program reported today that the IRS is making sure rebate money gets pumped into the economy.

Afraid that some taxpayers will take the checks and — gasp! — save the money or use it to pay down debts, the IRS has instituted a special "product in lieu of rebate check" program. So instead of receiving the check that so many of us are anticipating, the IRS is sending a select few filers retail goods
in relative value to what their check would have been.

Window_air_conditioner_2
The story talks to a Phoenix couple who got an air conditioner, as well as to the IRS employee — whose title is Debt-To-Purchase Ratio Assessor — who decides who gets what instead of a check.

You can read the story here. There’s also a link on that page where you can listen to the piece.

And, just in case you got this far and are freaking out about whether you’ll get a toaster oven instead of cold, hard cash, take a deep breath. Then look at the calendar.

Sorry, but as I was half-listening to Marketplace this afternoon, this story actually sucked me in for a moment. So I had to share it with y’all before April Fools’ Day ended.

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Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.

But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.

The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.

And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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