I was reading my RISMedia news this morning, courtesy of Lowes, and came across an interesting article about the Obama Stimulus Plan that has a deep affect on anyone earning a regular paycheck with taxes deducted each pay period.

Apparently, back in April wage earners started tor receive an additional $15 to $20 per week in the form of reduced withholding and this is a tax credit that does not have to be paid back.  The problem is that the credit is only good for $400 for a single person and $800 for a married couple and apparently there are a lot of circumstances where more than this has been collected by the wage earner. 

The result will be when it comes time to receive a refund, many tax payers are going to feel disappointed or even cheated (we have such a strong sense of entitlement in this country).  I guess those who traditionally receive a refund may even end up owing taxes.

Being a non-tax expert I almost feel as if I have shared too much aready - so please do yourself a favor and check ou the article and see if it applies to you, your family members or even pass it onto your clients...no one wants to have that kind of surprise.

The article can be found here: 

Stimulus Payout May Come Back to Haunt You at Tax Time  By Eve Mitchell