If you owe 2007 taxes, will you still get a stimulus check?

Answer by  Poster2 (17)

The taxes from year 2007 were used to calculate the amount of stimulus checks. If you owe money for your 2007 taxes the Internal Revenue Service will send you a stimulus check. Instead they will apply the amount of the check to your taxes owed. In other words, you will not receive the check because it wil go the IRS.

Answer by  BookMonger (147)

Depends on how much you owe. Basically, your stimulus check will pay what you owe, and you get the leftovers, if any.

Answer by  tamarawilhite (17883)

You must file a return to get any stimulus funds. And if you owe income taxes, the stimulus money received will go against any tax debt that you have. It can also be used to pay federal student loans and child support debts.

Answer by  flamiss22 (5081)

They will decrease your check with the amount of money that you owe and if there is anything left then they will send it to you. However if the penalty is large you may not want to wait for tax time, call the IRS and make arrangements now.

Answer by  Hewitt302 (1720)

No. All stimulus money is over. The government has cut back and if you owe 2007 taxes, Pay them right away, cause that includes three years of interest penalties.

Answer by  tamarawilhite (17883)

The stimulus was simply a reduction in the income tax rate for the first 10,000 dollars of taxes owed. It was not free money, just a rebate on income taxes when the rates dropped for that year. The reduction in taxes, "the stimulus check", will more than be offset by the interest and penalties owed for not filing.

Answer by  Kbrece (107)

At this point, you would not. The 2007 tax return had to be filed by October 15, 2008. You owe, but did you file, is the question.

Answer by  BrianSJ (524)

That depends on the rules of any further stimulus programs, but as things stand, you will receive a stimulus check even if you have back taxes.