Economic Stimulus Checks are Not Taxable

A large majority of taxpayers received economic stimulus checks in 2008. If you have looked at the 2008 tax forms you will see that you are being asked to report the amount you received. This information is being collected to determine eligibility for the new Recovery Rebate Credit. Another payoff to the taxpayer of money that already belongs to us, but that is a discussion for another day.
You will not pay federal tax on the rebate you received but make sure to report the amount so you can get in on the next round.
If you have questions about this or any other tax matter don’t hesitate to call the office at 678-624-4775 or send an email to