2009 Stimulus Check & 2010 Stimulus Check

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Stimulus Package

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Cash For Appliances

Tuesday, January 5th, 2010

There is a new federal stimulus program that began Jan 1, 2010 called Cash for Appliances.

This new stimulus program is similar to the Cash for Clunkers that ran throughout 2009 where you traded in your junker car for a new one with better gas mileage and reduced CO2 emissions.

The new Cash for Appliances program running in several states lets you trade in your appliances for a discount on a new one that is more energy efficient.

You can get up to $100 rebates on washing machines, $75 on a refrigerator and $50 for a room air conditioner.  This rebate works on nearly any new energy star appliance in your household.

Check the new federal site for more information on Cash for Appliances

http://www.energysavers.gov/financial/70020.html

Posted in Stimulus Package | No Responses »

President Obama lowered expectations in 2010

Tuesday, January 5th, 2010

In 2009, President Obama set some mighty high goals for his first year in office.  To his credit, he hit most of them.  The big winners were the multi billion dollar stimulus package, making progress for financial reform, lowering unemployment rates and dealing with terrorist threats.

Since this is a blog about the Stimulus Check, I won’t go over the points from the other achievements President Obama has made.   The Stimulus Package that he signed into law shortly after coming into office created many opportunities and hope for businesses and individuals.

Not everyone can agree on how they see eye to eye on if what Obama did was the best, but it did work.  He got money into the hands of most of the people who needed it most.

Most of the plans from the stimulus package about helping those that are currently employed remain in effect through 2010.  For those currently not working and retired, there will more then likely be a 2010 stimulus check coming your way this spring/summer.

Posted in 2009 Stimulus Check, 2010 stimulus check, Obama, Second Stimulus Check, Stimulus, Stimulus Check, Stimulus Package | No Responses »

Will the $250 2009 stimulus check have to be paid back?

Wednesday, July 8th, 2009

Question: Will the $250 2009 stimulus check have to be paid back?

Answer: It depends. But mostly likely no, you do not have to pay back the $250 2009 stimulus check that you received this year as part of the 2009 stimulus package.

Instead of explaining why you would not have to pay back the 2009 stimulus check it is easier to explain why you would have to pay it back to the government.

There are currently 2 ways that you would have to pay back the 2009 stimulus check that you received in the mail or via direct deposit.

  1. If you are on social security and receiving social security income and received a $250 stimulus check because of that AND are also working at a job you will have to pay back the $250 stimulus check.  By working at your job you will be eligible for the $400 tax rebate that is adding additional funds to your paycheck each week.  Since you can’t double dip, you will have to repay the $250 come tax time in April 2010.
  2. If you are on social security receiving a check like the first point AND also received a military pension or other form of military check each month AND received a $250 stimulus check from both sources, you will have to pay back one of the $250 stimlus checks.  The military went through the records and tried to exclude anyone already in this category from receiving a second stimulus check in 2009.  It is possible that not every had their 2nd stimulus check not sent out.

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Posted in 2009 Stimulus Check, Second Stimulus Check, Stimulus Check, Stimulus Package | 7 Responses »

2009 Stimulus Check

Saturday, May 30th, 2009

In the recent stimulus package passed by President Obama earlier this year, otherwise known as the American Recovery and Reinvestment Act of 2009, Obama provided many forms of stimulus and stimulus checks to provide the economy.  The only mentions of a 2009 stimulus check for the American public were in two places in the recently passed Stimulus bill.

The first is a 2009 stimulus check for those on social security incomes, military pensions and railroad pensions.  This is a $250 2009 stimulus check that is a one time payment similar to the 2008 stimulus check that President Bush issued last year.  To qualify for the 2009 stimulus check you had to have already been on social security by the end of 2008 to receive your 2009 stimulus check in May 2009.  If you started your social security income January 1, 2009 or later you do not qualify for this years stimulus check.  However if there is a 2010 stimulus check similar to how the 2009 stimulus check worked you would qualify next year for that stimulus check.

The second part of the 2009 stimulus check is a tax rebate that amounts to $400 if you are single or $800 if you are married over the course of 2009.  Starting in April 2009 the government is lowering the taxes withheld from your paychecks to the amount of about about $20/week so that over the course of the year it would amount to $400 (or $800).  This is the only 2009 stimulus check that is available to those that are working.  The 2009 stimulus check is essentially a $400 check paid over the course of the year.

This 2009 stimulus check that is being paid out weekly via a tax rebate will be in effect for 2010 as well.  The amount of the money making up the 2010 stimulus check on a weekly basis is less then this years $20/week because it is spread out over the course of the entire year instead of 8 months.

There is not a singular 2009 stimulus check for those on employment, it is split up into several incentives.  President Obama provided the following ways to help those on unemployment through the 2009 stimulus package.
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Posted in 2009 Stimulus Check, Obama, Stimulus Check, Stimulus Package, Unemployment | 59 Responses »

Will the american taxpayers receive a stimulus check for 2009?

Thursday, May 28th, 2009

Will the American taxpayers receive a stimulus check for 2009?  How will the mortgage modification program outlined work if and when some lenders refuse to cooperate with the stimulus package?  Will there be any other sort of 2009 stimulus check given out this year? Will there be a 2010 stimulus check?

Only a small percentage of Americans will be eligible and benefit from the 2009 stimulus package for a stimulus check in 2009.  Americans that are on social security and other retirement incomes will receive the 2009 stimulus check.  All other Americans that are working will receive an increase on their paycheck in the form of of a tax credit totaling $400 for 2009, about $13 per paycheck.  Those on unemployment benefits have a few benefits as well from the stimulus package.

The mortgage modification program does not apply to everyone nor is everyone qualified for the program.  Those that do meet the requirements for buying their first house and in the certain time period that it is bought will get the benefits of the mortgage program.

This is the only stimulus check sent out in 2009  for those on retirement incomes.  If you didn’t get one yet and you weren’t eligible to receive the one sent out you will not be receiving one.

As of this time there is no information on if there is a 2010 stimulus check or how it would work.

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Posted in 2009 Stimulus Check, Obama, Stimulus Check, Stimulus Package | 20 Responses »

$2,500 Tax Refund from 2009 Stimulus Package

Monday, May 18th, 2009

With all of the talk about the $250 2009 stimulus checks going out recently, there is a way for many of you to save money and get back a large refund this next April from this recently passed stimulus package.

One of the parts of the stimulus package was to provide a $2,500 tax credit, per student for this year.  It isn’t a stimulus check but the value of it much greater then the $250 stimulus check going out this year or the $600 / $1200 stimulus check from last year.

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Posted in Stimulus, Stimulus Check, Stimulus Package | 13 Responses »

First Social Security check was in 2009

Tuesday, May 12th, 2009

If you ware one of the many people who are on Social Security and wondering if you are getting a 2009 stimulus check it will depend on when you started receiving your social security.  The 2009 stimulus checks are for those who have started receiving their social security checks by the end of 2008 so that as of Jan 1, 2009 they were already in the system.  Even if you started up in Nov or Dec of 2008 you would be eligible for a 2009 stimulus check just like Vice President Joe Biden who started getting his Social Security checks in Nov 2008.

If your first social security check was sometime starting in 2009, even Jan or Feb 2009 you are not eligible for a 2009 stimulus check.  The way the rules were written for the 2009 stimulus package that was created and signed into law by President Obama stated that only those already on social security by the end of 2008 would get a 2009 stimulus check.

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Posted in 2009 Stimulus Check, Obama, Stimulus, Stimulus Check, Stimulus Package | 13 Responses »