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Old 02-29-2008, 11:14 AM
 
3 posts, read 6,035 times
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Okay, here is my question. What amounts would my husband and I get if we filed seperately with a dependant child? Also, the money we do recieve will it have to be reported on our 2008 taxes as income? I was told that if you recieved $3000.00 on your tax return last year and you recieve a tax rebate check for $1200.00 this year then your 2008 tax return would be only $1800.00 because you basically have to pay it back to the government. Is this correct?
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Old 02-29-2008, 02:04 PM
 
Location: Utah
5,042 posts, read 14,749,439 times
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I think you and your husband would each get $600 as long as each of you earned at least $3,000 in 2007. Whichever one of you claims your dependant would get an additional $300.

I fould this on a USA Today webpage:
Quote:
Though the rebate will be based on your 2007 income, keep in mind that it's actually a credit against your 2008 taxes.
It doesn't appear as though these tax rebates will count as income, but they will reduce the amount of refund you might be eligible for when you file your 2008 taxes.

Evey once in a while (don't know why) I can't post links. This appears to be one of those times. Here's the web address to the article:

http://www.usatoday.com/money/perfi/columnist/block/2008-02-11-rebate_N.htm
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Old 02-29-2008, 03:34 PM
 
Location: Sugar Grove, IL
3,131 posts, read 10,624,647 times
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all i know is that to be eligible for any money, you MUST file a 2007 tax return. However, in my opinion, no matter how much money they send out, it can't solve the problem. they want people to "spend" our way out of this mess, i personally think it is all the extra spending and charging that got people into a mess! I say, that if you receive a rebate check, no matter whether it is $300, or what, if you have credit card debt, you should pay that first. that will give you a better chance at long-term financial freedom, not just buying a few pair of jeans and shoes!
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Old 05-27-2008, 03:35 PM
 
1 posts, read 1,351 times
Reputation: 12
Default tax rebate

About the 600 per person tax rebate.

Unfortunately, the information everyone has gotten in the past doesn't reflect the new information I have just learned that if you had any deductions (ex. from self employment which affect the amount of tax liability), even though you earned the stated amount of income eligible to recieve the full 600 rebate per person, you will get dinged.

My husband and I are only receiving $600 total, not because we didn't fit the criteria for the amount of income earned but because of the self employment income deductions reducing our tax liability. It is based on whether you have a net tax liability of $600 or more, and earnings of 3,000 or more up to the alloted amount. For $600 net tax liability or more AND falling within the income limits you will receive the full $600 each, but if your net tax liability, after deductions, falls below $600 you will receive less. Even if you earned the amount which was originally stated that you would get 1200. SO, check that out to see if this applies to you.
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Old 10-26-2008, 12:45 PM
 
1 posts, read 1,276 times
Reputation: 10
Cool Checks

I see a lot of people that earn more money then the low income people complaining about not getting a check. You seem to think it is unfair for the people who earn more money to not get a check in the amount of around 300-1200. Why is it so unfair? You have hard working people like myself that works 40 or more hrs. per week as a single parent that doesn't collect ANY government help but earns under $10 per hr. Just because we are the people that you never even notice who does all the dirty/hard/physical work yet earn a lower income that a check once ever what 5-10 yrs. for usually under $1200 to us is a life saver and to the higher income is maybe enough to pay one payment on there BMW? NO one who receives welfare all yr. long gets the checks! It's only for the lower income working class that spend there working days cleaning toilets/serving food at a drive thru/sweeping floors and other nasty dirty jobs that get the $. To people like myself it is a lifesaver!!! I would hate 2 C how bad the upper middle class & the classes above that would like to if they could live on a budget of under $1500 per month bring home!! To even get an EIC you have 2 earn under $35,000 per year and have children living at home & under 18 or in school.

So PLEASE stop complaining!
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