Does the tax stimulus “rebate” affect ones estimated taxes for 2008?
Answer from AICPA member Irvin F. Diamond: No. The stimulus rebate checks will be issued in May 2008, a month after your first estimated payment is due for 2008 (April 15th). The Internal Revenue Service will not keep your check and apply it to your June 15th payment either. This is a completely separate program and will have nothing to do with your 2008 income taxes.