Tax Time Warnings - NBC 5 Dallas-Fort Worth

Tax Time Warnings

Stiumulus checks are not taxable.



    Tax Time Warnings
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    When you file your taxes, make sure you are not being taxed on your stimulus check.

    Taxes are due on April 15th, but scammers are trying to get an early start.

    The stimulus check that went out to taxpayers in 2008 is causing some confusing when filing taxes. An NBC 5 viewer says the person she hired to prepare her taxes told her the stimulus check was "just a loan".

    "That was not a loan. It's a one time payment from the IRS and the federal government to stimulate the economy, you do not have to pay that back, it is not taxable." said Jeff Felton with Jackson Hewitt.

    Mistakes can also slow down your tax return. Felton said people going to a tax professional for help should come prepared with a W-2 statement, and any statements from earned interest.

    Tax Refund Scheme

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    Some North Texans say they're being taxed on the stimulus checks.
    (Published Monday, Feb. 2, 2009)

    "If you think you need to bring it in, bring it in and we can always go through it for you." Felton said.

    Felton also added that the end of 2008 was a financially bumpy for some people, causing them to things differently with their money. He says people who filed for unemployment still need to claim the benefit. He also says some people borrowed money on their 401k plans.

    For any help or questions, check the IRS website.