watch your bank accounts!!!!

[mixedbreed02gt]

This stimulus is BS. If this was actually my tax money and not a Chinese loan I would be very happy about it. Maybe they could just let the market work and stop sticking their big greasy nose into it. If they would do that i would happily tear my check up.

BTW I am NOT spending it. I am going to put it into saving and keep hoarding my cash.:rockon:


BTW Mixedbreed is still a homo

I agree with you there...this isn't American money, it's all just loans from the Chinese and the Japanese. if they would stop allowing US businesses to outsource their work to workers in other countries, then they wouldn't have to give out stimulus checks to the population.

good point, even if we don't agree on a lot of things.

 

[svts4shawn]

that should make for a hell of a fireworks purchase. :-D

pff screw that. its paying for the suspension on my L need to call lfp before next week

 

[RDJ]

you guys enjoy that shit .. I haven't filed taxes since 2004 .. don't have to until 180 days after my last day of work in the sandbox ... will get them done at some point

 

[svts4shawn]

you guys enjoy that shit .. I haven't filed taxes since 2004 .. don't have to until 180 days after my last day of work in the sandbox ... will get them done at some point

whats the tax rules if your a contractor in iraq? isnt it something like if your there for over 1.5 years your exempt?

 

[mixedbreed02gt]

I'm thinking it's new hood time!!! :rockon:

 

[03CobraDom]

Am i the only one who got mine on Saturday??

 

[00SVT]

Looks like I won't get mine until July.

 

[BlkTacoma]

I should get mine this week then if all holds true.

 

[RDJ]

whats the tax rules if your a contractor in iraq? isnt it something like if your there for over 1.5 years your exempt?

this I had not heard of before. if you can come up with an IRS official reference I would be grateful LOL! I would LOVE it if this were true.

My latest understanding is that ALL activity on my IRS account was frozen the day I got in country. therefore there is no interest or penalties applied and my actual taxes are not due until I file my returns and they are not due until 180 days after I get home with no intention of coming back. we have to pay taxes on anything over the first 80-85K we make. (it has gone up so will vary depending on the year)

 

[mixedbreed02gt]

i thought all contractors who went over there, had tax free status for any money earned over there?

 

[RDJ]

i thought all contractors who went over there, had tax free status for any money earned over there?

nope we are subject to the same exempted income as any other U.S. citizen working overseas. We get a break on when the returns have to be filed and when the money has to be paid but other than that we are the same as anybody else.

I may be missing something but I have not found anything that says otherwise yet.

 

[WireEater]

You're just finding this out? LOL

 

[The Piper]

Am i the only one who got mine on Saturday??

Nope, rumor is...if you filed under a 1040ez form, some deposits were already made on Saturday.

 

[RDJ]

You're just finding this out? LOL

well not really. I am actually just now doing the research to be sure I am right about what I have planned. I got to thinking about what a mess it is going to be trying to file returns from 2004-2010 or so all at the same time LOL! so have been getting ready to get caught up even tho I don't have to.

 

[AllAccessLock]

overseas rules are, you have to stay out of the united states for 330 days out of 365 consecutive days to be tax exempt

 

[RDJ]

overseas rules are, you have to stay out of the united states for 330 days out of 365 consecutive days to be tax exempt

not necessarily. there are a number of things that affect this.

there are two tests ... one is the Physical presence test which is 330 days out of 365 consecutive days. those are 365 ROLLING days. so they are not limited to a calendar year.

The second test is the residence test. that is where one has to spend an entire tax year outside of the U.S. Vacations and business trips back to the U.S. are allowed

Under both of these rules you can maintain a residence inside the u.s. without compromising your eligibility for the exclusion.

Edited to add: I can qualify under both tests .. too bad one is not preferable over the other

 

[HYBRED]

Perfect, mine will come in 4 days before my insurance payment is due!

 

[SNCBOOM]

Imagine the idiots that have heard the news months ago and already spent that check on credit. It was a bad idea and will have no major impact.

 

[roadwarrior60]

i should be getting mine on friday:banana::banana:
and on saturday........i'm heading to my local gun shop and buying myself a new toy:-D i think its time for a new handgun.........

 

[canibus]

it'll pay for my iphone, nice...