May 22, 2008

Q & A: Stimulus Rebate Offset Legal??

QUESTION: What is the authority granted to the IRS which allows them to take a federally mandated rebate if you owe the IRS money on previous years taxes?

ANSWER: The Economic Stimulus Act of 2008 includes a provision that states if a taxpayer owes balances from a prior tax year, then any rebate the taxpayer is eligible for will be applied to the past due balance. More proof that it's hard to escape the long arm of the IRS!

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