Do I catch a rates rebate check (new stimulas package) if i'm on disability?
from the new stimulas bundle that president bush announced last weekAnswers: I lately had one and the same question dude.
I come across this answer to a question totally similar to yours on the ABC News website:
"As it stands now, the rebate are tied to earned income and federal income taxes compensated. If you pay no taxes and have no earned income contained by 2007, then you would not qualify for the rebate.
The knob questions for you: Do you recompense federal income taxes on any disability benefits you receive? Or are any of your benefits classified as earned income?
Earned income is unsophisticatedly money earned on the errand or in a business. That's why the communication coverage talks mostly roughly "workers." Earned income does not include investment income, pension payments, job loss benefits or Social Security payments.
According to IRS rules, however, earned income does include long-term disability benefits received in the past retirement age. Not knowing exactly what kinds of benefits you receive, I can't vote if your disability benefits would qualify for a rebate. But if they qualify as earned income or you retribution federal income taxes on those benefits, you may be eligible."
Do both race hold to be working to qualify for brand new tariff rebate?
To qualify for $1200 marital rebate, do both culture have to be working?Answers: Not 100% sure, but from my elucidation by sample rebate done on a couple news site--if one spouse is working and is eligible for the $600, his/her spouse is also eligible for $600 even except employed as long as they file a amalgamated return. So in essence, as long as one spouse works, a married couple can gain the full $1200 rebate. And an additional $300 per child up to a sure amount.
Don't jump the gun! There is NO REBATE YET. Congress is debating one but NOBODY know what the outcome will be until they are done with it AND Bush signs it into directive. A LOT can happen between presently and then.
Anyone who claims to know what it's adjectives about is GUESSING and blowing smoke. PERIOD.
How much income tax money do you get for a child but the parents are not married?
Answers: Only one parent can claim the child as a dependent. If both parents claim the child, State and Federal tax refunds will be held up and/or denied. In order to claim the child, he/she must have lived with you for more than half of the year.
The Child Tax Credit is $1000 per child. If you paid for child care, you can claim up to $3000 in expenses for one child, $6000 for two or more. Also, when you have a child, you are generally eligible for the Earned Income Tax Credit (EITC), which varies depending on the amount you earned during the year. Depending on all of the above, you can expect around $1500-$2500.
Their are too many variables to be able to answer your question correctly. Why not prepare a tax return with the correct information and answer your own question.