WKYT - Good Question - Headlines

Will the current stimulus for working people hurt us at the end of the year when we have to file our taxes?

THE STIMULUS PACKAGE SIGNED BY PRESIDENT OBAMA MEANS INDIVIDUALS WILL RECEIVE 400 DOLLARS AND COUPLES COULD RECEIVE 800 DOLLARS...ITS NOT A LUMP SUM AS BEFORE...THIS TIME IT WILL COME IN THE FORM OF EXTRA MONEY IN YOUR PAYCHECK EACH WEEK...ROUGLY 13 DOLLARS.

WE TALKED WITH THE FOLKS AT H & R BLOCK ABOUT THE POSSIBILITY OF HAVING TO PAY MORE AT THE END OF THE YEAR ON TAXES BECAUSE OF THIS STIMULUS MONEY...THE TAX EXPERTS TELL US IT IS A POSSIBILTY...IF YOU WORK TWO JOBS YOU COULD BE OVERPAID...AND IF YOU HAVE DUAL INCOMES IN YOUR HOUSE YOU COULD ALSO BE OVERPAID. THE FOLKS AT H & R BLOCK TELL US ITS BEST TO GO TO YOUR EMPLOYER AND TALK TO THEM ABOUT WHAT YOU WITHHOLD FROM YOUR CHECK...AND THEY ADVISE GOING TO IRS DOT GOV... FOR MORE ON HOW MUCH EACH HOUSEHOLD IS SUPPOSED TO GET.


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