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Shaffer: Dividend "relief" may create tax headaches

SITKA, ALASKA Alaskans will start seeing permanent fund dividends deposited into the financial institutions of their choice tomorrow (Fri 9-12-08).
This is earlier than usual, and also more than usual: besides the actual dividend of $2,069 dollars, Alaskans will receive an additional one-time rebate of $1,200 dollars.
While lawmakers refer to the rebate as “energy relief,” for tax purposes, it’s considered the same as any other income. Come tax time next April, Alaskans – including children – will see significantly higher federal tax bills thanks to the combination of the dividend and the rebate.
KCAW’s Robert Woolsey recently talked with CPA Brad Shaffer about some of the tax pitfalls of this year’s dividend, and how to avoid them:
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