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Energy Rebate Is Taxable Income

Chad news

Story Created: Sep 1, 2008 at 9:40 PM AKST

Story Updated: Sep 10, 2008 at 4:54 PM AKST

Some Alaskans may find their $1,200 energy rebate whittled down to nothing.
The one-time cash payout is being combined with the Alaska
Permanent Fund dividend in a single payment and, like the dividend,
it's subject to federal taxes and garnishments.
That means people who have fallen behind on student loans or
child support, for example, will have money taken out to pay back
the debt.
Families who haven't established residency in time to be
eligible for a PFD payment won't be getting the resource rebate
either.
The rebate is intended to assist Alaskans with the high cost of
fuel this winter. It was proposed by Gov. Sarah Palin and passed by
the state legislature in early August.
The first payments are due out in mid-September.

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