So...what you gettin with your stimulus check?

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My Dad just told me some interesting news on the stimulus package. Apparently the $300 or $600 you are going to get is an ADVANCE on a tax credit that is going to be applied to the 2008 tax year. He said this means that for anyone in my shoes, if you aren't getting a check because you were claimed as a dependant in 2007, you WILL get an additional $600 back (or owe $600 less!) if you are not claimed as a dependant in 2008 when you do your taxes in the beginning of 2009. I'd assume this means you'll also get the extra $600 in 2009 if you make less this year for some reason.

So for those of you actually getting a check - don't worry, you won't owe any more money than you would've without this package. Its just an advance on an additional one-time credit that you will now not be able to claim for the 2008 tax year.