Can i refuse the stimulus payment?

is this payment something that i can refuse, for own personal reasons? what are the payback terms and conditions?

CAN IT BE REFUSED?

You can't refuse the check.
Go ahead and cash it.

If you want to "refuse" the stimulus check, you can send it to The Bureau of the Public Debt. And they can use it to reduce the government's debt.

But it will lower the public debt with the same impact, and save us from that disaster of runaway government spending that draining a drop of water will lower the ocean levels, and save us from that disaster of global warming.


BTW, if you want to use the stimulus payment to help the American economy, a friend of mine just emailed me this:

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How to Use Your Government Rebate :


As you may have heard, the Bush Administration announced recently that almost every one of us taxpayers will get a nice rebate check soon from the U.S. Government: $300 to $600 for individuals, and another $200 for each dependent child.

The declared purpose of this rebate is to stimulate the American economy when we all go out and spend it.

However, if we spend that money at Wal-Mart, all the money will go to China.

If we spend it on gasoline, it will all go to the Arabs.

If we purchase a computer it will all go to India,

If we purchase HD TV's, stereos, or other electronic crap, the money will all go to Taiwan.

If we purchase a good car, it will all go to Japan or Korea or Germany.

Shoe and clothing purchases will go to China , Indonesia , or Viet Nam .

Even if we buy food, the fruit and vegetables proceeds will all go to Mexico, Honduras , and Guatemala , and beef proceeds will go to Argentina -- and of course, none of
it will help the American economy!

We need to keep that money here in America !

So the only way to keep that money here at home is to spend it on prostitutes and liquor,
since these are, apparently, the only businesses still left in the US.

:-)

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I think you should just keep it and put it in a savings account or even a cd to grow interest if you dont want to spend it. And when you do your taxes next year, if you end up owing, then you can use it to pay back, plus you will make a little of interest :)
But I am sure you could refuse it if you wanted to. Call the 1-888 IRS # and find out. So, if you are able to refuse it (which I have not heard anyone say that ) when you file your 2008 taxes the answer will be "no" to "did you receive your stimulus check?"

No, you cannot refuse it. However if you wish you may make a donation to the Bureau of the Public Debt. That will put it back in the government's coffers.

Don't simply discard the check. If it never clears, the IRS will eventually cancel it out and cut a new check for you. That may take a year or more, but it will happen. I lost a small tax refund check a number of years ago and forgot about it in the shuffle for a cross-country move. 2 years later, I received a replacement check out of the blue and it took a couple of calls to the IRS to figure out what it was for.

When you get the check, just tear it up and throw it away. If you're getting direct deposit, just withdraw it and throw it in the trash.

It's easy to do whatever you have to do for your own "personal reasons." Nobody says that you have to keep it.

Deposit it in your account and then take the money out in cash.

Go to a place where homeless hang out in your city, and give each person 20 dollars as long as it lasts.

Note: the homeless where I live are not dangerous...but they may be in your area. In that case, donate the money to a local charity.

Put your money in the bank and get some interest. If you do not want it, send it to me. Here is a better question to think about. Why give everyone a tax rebate in the first place? These rebates only tell me that our government is taking too much taxes. I rather have permanent tax cuts than get an once awhile rebate check.

Why would you do that? It doesn' have to be paid back and won't be taxed next year. I suppose you could just shred the check instead of cashing it, but that wouldn't make a lot of sense.

The IRS website states this will not affect your 2007 or 2008 taxes at all. It won't need to be paid back.

I guess you could mail it back after you receive it. There is no pay back on it, it's yours free and clear

It does not have to be paid back.