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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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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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