<p>I am wondering how this money from the Government (Stimulous package -$1500 plus $300 for each child?-not sure if these figures are correct) is going to be treated with next years taxes in 2009, does anyone know? I recall them doing this a few years ago, much less money per family, I can not remember how it was handled with the next years returns. We teetle near $50,000 for income, I know with this money coming from the Government, it will Definetly push us over the edge. Which will have a big effect on the FAFSa for our family. Thank you all.</p>
<p>(I think) it will not affect your AGI and is treated as a federal income tax refund. So your AGI is still $50,000 but you are paying less tax on it.</p>
<p>Personally, I would assume that the refund (whatever its called) WILL count against your efc since fafsa and Profile have allowances built in for net taxes.</p>