Bloggers and forums are abuzz over the news that TurboTax may be calculating the Recovery Rebate incorrectly. Apparently TurboTax users are getting letters from the IRS complaining that they claimed too large a credit for the rebate, and that they’ll need to pay it back. The TurboTax team has responded to explain some of the confusion, but that’s not the whole story.
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Archive for July 7th, 2009
Recovery Rebate Ruckus: Why are TurboTax Users Getting Angry Letters from the IRS?
Tuesday, July 7th, 2009California is Nearly Bankrupt — And They’re Printing Money!
Tuesday, July 7th, 2009How does an effectively bankrupt state pay the bills? By printing its own currency! California is issuing IOUs instead of paying bills in cash. In other words, instead of borrowing from people who want to lend money, and using that money to pay its bills, the state is borrowing from people who it already owes money to, and promising to pay the bills a little later (with a little interest).
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