taxes

So that economic stimulus check we got last year... The IRS said that you will not owe taxes on your rebate when you file your 2008 income tax return, and that your tax rebate will not reduce your refund or increase the amount you owe when you file your 2008 tax return. They were technically correct. We don't pay taxes on it, because they didn't give us money, they loaned it to us. It was an advance on our 2008 tax refund. Which means it came out of the refund we'll be getting this year (if we're getting one at all).

Remember the part where they said it won't reduce your refund? It's reducing this year's check, so it seems like your refund is reduced, but technically, you've already gotten part of your refund. So I hope you weren't counting on the same amount of money you usually get.

I don't remember hearing that it worked this way. Was this common knowledge?

Edit: Actually, I don't understand how it works, so ignore my explanation.