kimblr.com

Good news on the rebate front.
If you arranged to have your federal rebate deposited directly into your bank or credit union account, there’s a chance it may already have arrived.
The U.S. Treasury yesterday began distributing the first round of federal rebates. It’s the result of the new federal economic-stimulus law which is intended to help kick-start the nation’s slumping economy.
The first batch of rebates wasn’t supposed to go out until Friday.
But the Internal Revenue Service managed to process some of them earlier than planned.
As a result, about 800,000 rebates were deposited directly into bank and credit union accounts yesterday, said IRS spokeswoman Peggy Riley
The Treasury plans to directly deposit another 800,000 rebates today, 800,000 tomorrow and about 5 million on Friday, she said.
So if you’re eligible for a rebate by direct deposit, you may wind up receiving it earlier than you figured.
That should come as good news to consumers who are struggling with soaring food, energy and other costs –– and for those who are still paying their winter heating bills, said Mary F. Bernard, president of the Rhode Island Society of Certified Public Accountants.
“The sooner you get it, the quicker you can start to invest it, pay off debts with it –– or, as the president hopes, spend it –– to put it back into the economy somehow,” said Bernard, who is also tax principal at Kahn Litwin Renza & Co., Ltd., a CPA firm in Providence.
Edward M. Mazze, former dean of the University of Rhode Island’s College of Business Administration, said that the start of the rebate distribution “is going to help raise people’s confidence in the government’s ability to follow through on something that’s been promised, and also do something to stimulate the economy. While everybody’s talking, the government is actually doing something.”

projo.com

Today is "payday" for millions of Americans.
The first of the new economic stimulus tax rebate checks began showing up in direct deposit accounts this morning. It’s based on your social security number and many people already have plans for their check.
The original plan for the 152-billion dollars in rebates was to give you a little extra spending money for computers, big screen TV’s, maybe furniture or jewelry.
It turns out the so called stimulus plan may end up being survival money. Donna Teal of Harrisburg knows what she’ll be doing with hers.
“Either pay bills or buy flowers for Memorial Day,” said Teal.
Kathy Osborn of Johnston City says she’s going to put the money in the bank and doubts it’s going to help the economy much at all.
“I don’t think we’re going to progress from it. We’re in a recession. I don’t see how a little bit of money will help,” said Osborn.
Recent surveys show most Americans will use their rebate to help pay for sky-rocketing fuel costs, growing credit card debt or relief from the on-going mortgage crisis.
For a family that receives a twelve hundred dollar rebate that means they’ll get about twenty fill-ups at the current national average of three dollars and sixty cents a gallon for gas. It wouldn’t even get rid of the interest on the more than eight thousand dollars in credit card debt most American household’s face. And it wouldn’t cover even one month’s house payment for many of those struggling with mortgage problems right now.
“Deep down I feel like sending it back cause it’s a bribe,” said Osborn.
Osborn says in the sinking economy, she doesn’t think it will keep anyone afloat.
So when will you get -your- check?
If you got your tax refund by direct deposit your check will be deposited over the next two weeks. The first paper checks go out on May 9

wpsdtv.com

Actor Wesley Snipes was sentenced to three years in jail Thursday on charges of tax evasion.
In February, a Florida jury had found the ‘Jungle Fever’ star guilty of failing to stump up federal taxes on his hefty income — $2.7 million — from blockbusters such as Blade and Blade: Trinity between 1999 and 2004.
Snipes’ attorneys had claimed in the Florida court that he owned only $228,000.
Snipes, 45, was acquitted of three identical counts and two felony charges of tax fraud and conspiracy.
Three years in prison was the maximum sentence. Prosecutors had also sought a $5 million fine.
He was charged in 2006 along with a known tax protester and a former accountant who is said to have previously been banned from preparing tax returns for clients.

showbizspy.com

NEW YORK–(BUSINESS WIRE)–Fitch Ratings assigns an ‘AA-’ rating to New York City, New York’s (the city) $525,000,000 general obligation (GO) bonds, fiscal 2008 series L, consisting of $475,000,000 subseries L-1 tax-exempt bonds and $50,000,000 subseries L-2 taxable bonds. The bonds are scheduled to be sold on or about April 15 via negotiation, and will mature Apr. 1, 2010-2028. Early redemption provisions will be determined upon pricing. In addition, Fitch has affirmed approximately $34 billion in outstanding New York City GO bonds at ‘AA-’. The Rating Outlook is Stable.
The city’s credit strength is based on the breadth of the economy, high income levels, strong economic performance and financial operations, and exceptional budget management and controls, including a consistently demonstrated ability and resolve to close budget gaps. Offsetting factors include high and rising levels of debt and economic and revenue vulnerability to the cyclical securities industry, now under pressure, and to the real estate market.
With the continuation of several years of strong financial performance, primarily attributable to the robust performance of Wall Street and real estate, the city adopted a budget and financial plan in June 2007 that was characterized by prudent fiscal management and conservative revenue forecasting. The city used a large fiscal 2007 surplus to offset gaps in the three subsequent years of the financial plan and assumed softening in the securities industry and real estate.
The city has subsequently modified the June financial plan, most recently in January, to reflect negative financial market developments. While property taxes are projected to show relatively steady base growth, personal income tax growth is now expected to slow from 12.8% in fiscal 2007 to 1% in fiscal 2008 before dropping 5.6% in fiscal 2009. Sales tax base growth of 4.3% in fiscal 2008 is followed by a projected decline of 1% in fiscal 2009. Business tax growth has been revised downward significantly this year. Projections now show declines in both fiscal 2008 and 2009. Drops in real estate transaction taxes continue through fiscal 2011. Wall Street profits are estimated to have dropped from $20.9 billion in calendar 2006 to $2.8 billion in 2007, and are expected to rise to $9.2 billion in 2008. The bonus pool is estimated to have declined from $34.9 billion in 2006 to $31.2 billion in 2007, and is expected to fall further to $23.1 billion in 2008. Fitch believes that these forecasts are prudent given recent events, although the extent of actual securities industry losses and projected real estate declines remain an uncertainty.

businesswire.com

Yeah, Marc. It would be accurate to say there’s no record of his tithing in the returns. The site you link to at least acknowledges he may have given to causes that weren’t tax-deductible; I’m not saying he did, but if your post was appearing in a print medium with a copy editor worth a damn, that would get fixed. You’re not doing the Fourth Estate any favors when you can’t stick to the fundamentals of actual, principled journalism. They taught that thing about assuming in my Basic Reporting class. Actually, they taught it when I started working on my high school newspaper.
All that said, it’s going to be so great to see the same people who’ve been outraged about Obama attending Wright’s chuch being outraged about how he didn’t give it enough money.
And you know, you actually can just change the verbiage really quickly with this fancy-schmancy “Weblog” software, but that would be silly, and let’s face it, quite common, in the worst sense of the word. Because phrasing something almost accurately is just as good as phrasing it accurately!
If I had to put money on it, I’d bet that the returns are indicative of Obama’s regular tithing, or lack thereof, rather. But again, this kind of sloppiness masquerading as snark is fully objectionable on principle, especially when it would be so easy to get it right.

marcambinder.theatlantic.com