Does college student who files return but is claimed as dependent on parents return, take the $600 rebate??
student is 21 and made more than $3000 in 07 but singular paid $438 surrounded by federal withholding. If he claims himself on his return he will get full repayment ($438). Will he still be eligible for stimulus rebate??Answers: Regardless of whether your parents claim you as a dependent, under the jargon of the compromise bill passed by Congress, you also would be eligible to receive a rebate of up to $600 if you paid that much within Federal Income Tax. If you only rewarded $350 in taxes (less than the $600 rebate limit), you just get posterior $350. Since you had earn income of at least $3000, you would carry at least the minimum rebate of $300.
While the rebate depends on your 2007 income, it is in truth a rebate toward your 2008 taxes. According to the proposed plan, in 2008, taxes would be cut from 10 percent to nil percent on the first $6,000 dollars of taxable income for individual taxpayers.
It's like a one time export tax cut for 2008, but you get the rebate very soon instead of waiting to file your 2008 taxes. Because this is an finance payment on your 2008 taxes, your settlement next year could be more (or smaller quantity!) depending on your 2008 income.
Use the calculator below to compute your rebate.
If he's a dependent it doesn't look like he'd be eligible. The parents would receive $300 for him though.
Are they taking your 2008 Rebate check if you owe IRs, Student Loans, or Child support?
Answers: I would say yes.I have also heard that this is not a free check that it will be deducted from next years tax refund but I am not sure of the validity.The person who talked about it on the radio cites CNN as the source.
I just found this on a webiste:
Under the advance tax payment rebate plan in 2001, outstanding debts owed to the government, such as back taxes, delinquent federal student loans or child support payments were deducted from the rebate checks. Do not be surprised if a similar deduction is applied to this round of rebate checks.
Hope this helps..
why do people assume we who owe IRS arent paying taxes? Duh. I owe as my spouse died years ago and it all had to do with improper advice on retirement rollovers, etc. and I file religiously. But am i , who is needy, going to get a rebate? probably not. And not because I did anything wrong personally. So chill everyone who thinks we should pay, pay pay, etc... we do.. and you know who you are...
Married filed joint, but my husband owes back child support. will the state give full refund or keep his part
Answers: I hope they keep it all.dead beat dad's...how sad
Since you filed joint, the entire refund will be held, however, you can file Form 8379 to protect the innocent spouse.
Form 8379
The taxpayer uses Form 8379—not Form 1040X —to file the injured spouse claim. If the joint return hasn't yet been filed, you should attach Form 8379 to the joint return and write "Injured Spouse" in the upper left corner of the return. If the joint return has already been filed, you should mail Form 8379 by itself to the Internal Revenue Service Center where the joint return was filed.
If you take appropriate action and secure your proper share of a tax refund from which the offset was made, the IRS must request that the Treasury Department's Financial Management Service (FMS) deduct that amount from amounts payable to HHS or the state.
You HAVE to file an injured spouse claim 8379 in order to keep the child support agency from taking your share of the tax return. If you do not file this form, they will not care if part of the return is yours, if the arrears are high enough they may take it all. You can file this form all by itself, if you already filed your tax return. The IRS will hold any offsets for at least 3 months just in case an injured spouse claim is filed. So if you don't file this form and the arrears are more than the amount of taxes you are getting back then you will get nothing. But, if you don't file this form and the arrears are less than your tax refund, the IRS will take what child support wants and send you what is left.