Expert: Terry Leeders - 3/31/2008

Question
One of the other lawyers stated that as of right now, it is unclear whether or not the stimulus payment we are all receive this summer will be considered income on the means test and schedules I & J.  What is your opinion on this?  Is this something that will probably vary from district to district?

Thanks

Answer
Hard to say.  I thought that I read that this is just a tax credit for 2008 tax year, but are paying it early to help stimulate, hence not income.  I admit that I didn't read much of the details of the exact funding. If it is income,  I doubt it would skew many figures, as the means test is a 6 month budget analysis.  I am sure the US Trustee will post something on their website regarding this issue.