I'm a mother of two, and i made 30,000 last year. But, i didnt pay any federal taxes,will i qualify?
Answers: $900 rebate.
Under the compromise bill passed by the Congress, you would be eligible to receive a rebate of $300 since you had earned income of at least $3000. Since you qualify for a rebate, you would get an additional $300 for each dependent child.
While the rebate depends on your 2007 income, it is actually a rebate toward your 2008 taxes. According to the proposed plan, in 2008, taxes would be cut from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers.
It's like a one time tax cut for 2008, but you get the rebate now instead of waiting to file your 2008 taxes. Because this is an advance payment on your 2008 taxes, your refund next year could be more (or less!) depending on your 2008 income.
Qualify for what?
You may end up owing some money if you paid nothing, but with two kids and relatively low income, you will qualify for EIC and probably the additional child tax credit. You may end up getting a small amount back, but there are too many variables.
What you need to do is make sure you fill out your W-4 correctly next time and have taxes taken out of each paycheck so at the end of the year you don't have to worry about things like this.
i have been told as long as you earned income. So I dont know.
I am not getting my hopes about this rebate until I got a check in my hand.
I'm the same I earned income but didnt pay any taxes all year. My grandma watches the news like all day every day and she tells me I will still get a rebate.
You may be "qualified" for a Tax Audit and or charges for failing to file a tax return. That's about as far as qualifying is concerned. (See latest news info on actor Wesley Snipes)
How could you earn 30K though and not pay taxes? Were you "paid under the table?"
My recommendation is, schedule an appointment with a tax officer at the IRS. Let them review your situation, pay your outstanding taxes so that come Feb' 09 you can claim a hefty return on the taxes you paid, plus with having 2 kids as dependents, you get $1,000 for each of them.
Even if you didn't have to pay any taxes, you should be filing a return. I don't understand how you can possibly earn $30,000 and not have to pay any taxes. Did you get a W-2? Didn't your employer take any withholding out of your pay?
Will folks on Social Security, SSI and retired folks on pensions be eligible for the forthcoming tax rebates?
Answers: At first when the introduced the rebate, they said that even retired people could get the rebate if they had earned income of at least $3000 but that those on social security could not. Now however that has changed and the Democrats tacked onto the bill a measure that would allow even folks solely on social security to at least get a $300 rebate. Congress just passed it today and now the President is expected to sign it tomarrow.
So after all the info I have been reading on it, YES, those on social security (not sure about SSI) and disabled veterans definitely will get the rebate now.
No. I believe you have to have income that you earned at a job.
Good question.
At one time they were trying to tack that on, but I believe it fell through. Maybe when it is actually passed and signed we will get more info. Until then it is all guesswork.
Help! please: math problem.?
Math Problem Help!!?Use the information provided on this chart: http://i30.tinypic.com/51ylwh.jpg...
suppose the husband has $29000 taxable income and the wife have $31500 taxable income:
If they file separately, their total charge due is:
Answers: that box is for married filing as one
No homework.
I did my homework, so you can do yours.
Hint, use the right table, find the tax for hub, find the import tax for wife and add them together. It's INCREDIBLY assured.