Is the tax rebate a refund for 2007 or 2008?
Answers: 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.
Nothing has passed Congress yet, so all details are subject to change. Check out the referenced site below for more info.
It will be for 2007 if it passes the Senate.
Serious give somebody the third degree nearly file taxes after have a babe? pls answer.?
im 19 and i had a babe-in-arms dec 26..i worked 1 part time livelihood last summer for a month. later had another slice time job surrounded by october for a month also. my parents are divorced so i think my mom claims me still. not sure..do i draw from any money for having this babe-in-arms? i live with my single mom also..Answers: as you would expect you do. You should claim hoh. EIC and your refund will be at smallest i would think 1000. the tiniest,.
If your mom claims you, then you can't claim the child, since a dependent can't claim a dependent - but then your mom can probably claim the toddler.
You'll get hindmost anything that you had withheld for federal income duty, not what was withheld for social shelter and medicare.
From the info you give, your mom can probably claim you unless you made over $3400 for the year, which next to two brief part time job you probably didn't.
Michelle doesn't have a clue in the order of tax statute and your situation, and Alex is talking around a situation very different from yours so the info doesn't apply to you. To claim EIC you enjoy to have a dependent, which it doesn't nouns like you do since you are most imagined a dependent yourself. But even if you aren't a dependent, and can claim your baby, EIC depends on your income, and on two module time jobs for one month respectively, what you'd get would be FAR smaller amount than $1000.
Good luck.
Maybe, maybe not. If you are claimed as a dependent yourself you can not claim a dependent, collect the EIC or report as Head of Household.
If you turned 19 in 2007 and are not a full time student next your mother can only claim you if you lived beside her all year and you earn less than $3,400 surrounded by 2007.
If your mother cannot claim you then you can claim your infant and may be eligible for the EIC since you have a qualify child. You won't be able to folder as Head of Household however, based upon the information you provided, as you must compensate more than half the cost of maintain the home.
Your mother might be able to claim your child beneath the Qualifying Child rule if you do not file a return for any root other than to claim a repayment of any income taxes withheld from your pay. Grandkids can qualify below the Qualifying Child rule. And it might qualify her to file as Head of Household and claim the EIC, Child Tax Credit and Additional Child Tax Credit. This is one of those rate situations where on earth you can "pick and choose" who claims your baby.
Depending upon her levy situation your baby may be worth several thousand dollars on her return but far smaller number than that on your return. It would be a smart idea for you to numeral out your tax returns both ways and report whatever passageway is most advantageous to you both, taken as a whole.
Get a copy of IRS Pub 501 and IRS Pub 596 from the IRS website. 501 covers fling status rules and exemption claims. 596 covers the EIC.
You may be entitled to an earn income credit. You will have to do the forms to find out. It will depend on your income, whether or not your parents do claim you etc. I nick it you are still at home, and I can't imagine you made much money and remunerated many taxes, so don't look for a big check.
How much am I getting final within taxes?
last reimburse stub of 2007 saysFederal Tax-Year to Date-$171.38
FICA-Social Security Tax-$207.38
FICA-Medicare Tax---------$48.50
NY State Tax------------------$1.78
Answers: That depends on how much money you earn. The IRS uses a percentage system called a Tax Rate Schedule to determine how much respectively person owes per year contained by taxes. If you make smaller amount than $7825, you must pay 10% of your total income. Anything you rewarded over $782.50 you will get hindmost.
If you make $31850 or smaller quantity, you have to wage $782.50 plus 15% of the amount over 7,825.
None of this accounts for deductions, though. They can back reduce the amount of taxes you hold to have compensated over the year.
Insufficient information.
Try again with Gross Wages.
You can also take a form 1040EZ on line and steep in the blanks.
Looks resembling you had markedly little in wages.
$171.00 on your Federal.
Your FICA tell me you made $3,344 gross. That's below the filing requirement amount for your Federal return even if you can be claimed as a dependent so you'll attain all of the FITW put money on as long as this is your ONLY income for the year. (The IRS rounds all amounts, that's what happen to the 38c.)
Don't know if you'll have a NY tariff liability but I'd guess it's not worth the effort to report if you don't for the $2 that they'll send you.
FICA is never refund, at least not at your profits level.