I am on Social Security and could not folder any taxes for the year, will I still catch a rebate check?
I am 36 with 2 kids, one is 17, and one is 15. I am on Social Security. Will I grasp a rebate check even if I didn't file homestead or taxes, because of over the decrease for Homestead and could not file dur to the certainty I am on Social Security.Answers: Unfortunately, from what i have see the plan only applies to Seniors that are on Social Security.
"Anyone beside at least $3,000 contained by earned income concluding year will get $300, as will seniors on Social Security, even if they compensated no income taxes".
The text above is from USA today, which is what the cooperation below leads to.
http://www.usatoday.com/news/washington/...
You CAN report a tax return even if your simply income is social security, you in recent times aren't REQUIRED to.
Rules on the rebate aren't finalized yet, but it's looking approaching you might have to report a tax return within order to be eligible. Check spinal column in a few weeks, and the rules will probably be more settled. But it can't hurt to database just to be on the undisruptive side.
If you don't have to record a tax return, but you get at least $3,000 contained by Social Security and want the rebate, you need to steep out a 1040A form (sample attached first link) and only swarm in the parts that aren't blacked out. It is pretty smooth and straight forward. No need to see a professional. The second join is a blank 1040A form.
How do i know if i qualify for the extra tax check in april 2008?
Answers: The "extra tax check" is the tax rebate. First, according to the IRS, the stimulus payments will go out starting in May and go through the late spring and summer.
Under the compromise bill passed by the Congress, you would be eligible to receive a rebate of up to $600 if you paid that much in Federal Income Tax. If you only paid $350 in taxes (less than the $600 rebate limit), you only get back $350. If you had earned income of at least $3000, you would get at least the minimum rebate of $300.
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.
Go to this link
http://www.iht.com/articles/2008/02/08/b...
Are you referring to the economic stimulus tax rebate plan?
*If you earn less than $3000 or if you are claimed as a *dependent on someone else's tax return, you get nothing.
*If you earn more than $3000 but not enough to be liable for federal income tax, you get $300 plus $300 per dependent child up to two children.
*If you earn more than $3000 but not enough to be liable for federal income tax and you file jointly with your spouse, you get $600 plus $300 per dependent child.
*If you pay federal income tax and earn under $75,000, you get $600 plus $300 per dependent child up to two children.
*If you pay federal income tax and file jointly with a spouse and together you earn under $150,000, you get $1200 plus $300 per dependent child up to two children.
Above $75,000 for single filers or $150,000 for married couples the rebate phases out.
There could still be changes to eligibility but if what has been proposed is passed as is this link
http://www.theolathenews.com/119/story/3...
should tell you how much if anything you should get back.
With the due rebate i merely made 2100 for 2007 will i be getting one.also will it be an acutally check ?
With the tax rebate i only made 2100 for 2007 will i be getting one.also will it be an acutally check ?or will it be depostied? this is really confusing b/c i hear it was base on 2007 taxes then i hear it was base on your 2006 taxes can someone please clear this up for me/? also i did pay federal taxes not alot but here was money remunerated in
i''ve be married for 5 years and we have 2 children i wait until the youngest was a yeasr out-of-date before i go back to work.
Answers: If you directory a joint return, any rebate will be figure based on your 2007 shared income and tax liability. If your unified income was over $3000 you'll bring at least $300 respectively, and if your tax liability for the year be over $600 you'll get any $1200 or your total tax liability, whichever is smaller. Those amounts are for you and your spouse - you'll also obtain $300 for each of the kids.
You will not be eligible for the "financial stimulus" tax rebate if you made lower than $3000 in 2007. However, if you did wage income taxes on your $2100 you will be refunded that because you are far below the poverty line.
However, if you database jointly next to your spouse you will get $1200 plus $600 surrounded by child tax credits if combined you engender under $150,000.