Economic Stimulus Act of 2008

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Economic Stimulus Act of 2008

Legislation in the United States that paid tax rebates to certain households, provided tax incentives to small businesses to encourage hiring and investment, and allowed Fannie Mae and Freddie Mac to purchase mortgages above previous limits. The act was intended to avert a recession, but it did not, and the U.S. entered a serious financial crisis later the same year.

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In essence, the Economic Stimulus Act of 2008 provides for a credit against the 2008 tax liability but seeks to provide for advanced receipt of the credit in the form of an immediate rebate.

Tax rebate checks as Economic Stimulus: consequences of the Economic Stimulus Act of 2008 for individual taxpayers

Although the Economic Stimulus Act of 2008 provides only a few incentives for businesses to purchase additional equipment, it provides the much-publicized rebate checks for individuals.

Economic Stimulus Act of 2008; Analysis of major provisions

Checks from the Economic Stimulus Act of 2008 are just now beginning to arrive in taxpayers' bank accounts, but surveys and studies suggest that a majority of the recipients won't be rushing off to the mall to make the economy boom once more.

Spend or save? Stimulus may reduce debt, spur investments

In addition to the politically ballyhooed rebates for individual taxpayers, The Economic Stimulus Act of 2008 includes two major provisions for businesses.

How much boost will Washington's stimulus provide?

Much of the acceleration was accounted for by cash rebates from the federal government under the Economic Stimulus Act of 2008.

Director's message

Future income tax rebates will also be affected if they are worded similarly to the Economic Stimulus Act of 2008.

Rules clarified for claiming the exemption (and related tax breaks) for children of divorced parents

On January 30, the Senate Committee on Finance reported the Economic Stimulus Act of 2008, which contained provisions not included in the House bill.

Economic slowdown: issues and policies

(53) joint Committee on Taxation, Estimated Budget Effects of the "Economic Stimulus Act of 2008" as Passed by the House of Representatives and the Senate on February 7, 2008 (JCX-17-08), February 8, 2008, available at www.house.gov/jct/x-17-08.pdf.

The Economic Stimulus Act of 2008

The Small Business and Work Opportunity Tax Act of 2007 (SBWOTA) (1) and the Economic Stimulus Act of 2008 (2) have increased the amount that businesses can deduct under Sec.

General business provisions

A sharp acceleration in current-dollar DPI reflected a sharp acceleration in personal income and a sharp downturn in personal current taxes; both primarily reflected the rebates to individuals provided by the Economic Stimulus Act of 2008. (4)

GDP and the economy: advance estimates for the second quarter of 2008

The IRS has issued rules for individuals to follow to claim their rebate checks under the Economic Stimulus Act of 2008, P.L.

Rules issued for rebate checks for individuals with no tax liability

First-quarter profits reflected the effects of the Economic Stimulus Act of 2008 (see "The Effects of the Economic Stimulus Act of 2008 on Corporate Profits" on page 4).