Taxes & my Stimulating Non-Rebate

Alas, the familiar email from TurboTax. I have been accepted once again. Or, at least my electronicly filed taxes have been accepted by the Internal Revenue Service. Pardon me if I don't leap to my feet in excitement. But, well, I didn't fall to my knees and beg for mercy this year either, so I guess that's something.



Tax debt has been a major issue for us for the last several years. Okay, much of this decade so far. When my DH was laid off in 2001, we foolishly, foolishly cashed in his 401k. It was just another warning sign that should've told us how we lived financially was not healthy. We made very good money, but dang, we spent very bad money. When I think about it now, DH made a lot more a year than the both of us make combined now. However, that's not the point. The point is that it was one bad mistake after another. Lather, rinse, repeat. If I had a time machine, I'd slap myself.



So, we owed the IRS a big wad of cash. We owed everyone a big wad of cash. We did not have a big wad of cash. The IRS will kindly take payments, for huge interest and fees. So, we set up the payment plan and mailed a check each month. Then, two years later, we owed the IRS a smallish wad of cash. No worries, they will tack on payments. I resign myself to paying the IRS until I die.



Then, DS comes along and Hubby is working as contract labor until he has completed the first 3 months of work. But, we strike our deal with his employer to stay part-time contract labor if they will work around my schedule. It's totally awesome and we're excited because we don't have to use day care! But, now we have to get our hands around this tax thing. I foolishly listened to people tell me that now we have the kid, we'll have to pay a lot less taxes. Well, as DH is self employed, it didn't work that way. I think I've got enough to cover the next tax bill and I miss it by two grand! Holy Cow! I've almost got the first big bill paid off and I'm about to add another!



Then last year, when I filed our 2006 taxes, I was shocked again. Really, I thought I had done a much better job with keeping up with everything. I paid a chunk and since I'd paid off the first two installment agreements, I was able to tack on another one.



But, in the fall of 2006, DH became a regular employee. You know those taxes everyone complains about coming out of their check? We wept in joy to have them taken! It was glorious. And these 2007 taxes weren't hardly painful at all! It took less time to prepare them and the bill was $145. Yippee! Talk about glorious.



Then, I began to wonder about the Economic Stimulus Rebates that everyone is spending before they can even get their hands on it. What would happen to it? So, I dug around on the IRS website and found my answer. We will be getting a Stimulating Non-Rebate. We qualify to "receive" a stimulating $1500. But, it's a Non-Rebate for us. The IRS will keep against what we owe and I couldn't be happier! By the time the rebate kicks in, it will pay almost half of what we have left.



On the homefront:

DH did indeed clean some residual baby powder last night, including the stripe behind the door of our bedroom. However, I am not entirely pleased. In true man fashion, he brought the leaf blower inside and worked over the room-sized rafia rug in our bedroom. True, it got more out of the crevices than the vacuum cleaner did and it was far more effective that I would've guessed had I known about the plan before hand, but really? The leaf blower? He claims he blew it all out the window. Explains why I need to clean windows today.