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Now you guys better get out there on a spending spree once that "big" windfall is in your hot little hands....Gotta stimulate the economy ya know, so us folks in Canada don't go down the economic sewer with you.....LOL
Ok, I'm a bad person and have not yet filed my 2006 return. There was a rebate due then, too. Will I get it when I file? Husband was unemployed the entire year so we'd qualify. I only worked PT that year. One of the reasons I didn't file was..well life was sort of a mess. I filed proper extensions and then an incomplete return.
We still owe some from 2001. I need this rebate to make a dent!
My understanding from all I have read is that you not only have to file a 2007 return to get the rebate, BUT you have to have EARNED INCOME. In other words, wages. If you file(d) a return but your income came only from interest and/or dividends and/or distributions from an IRA (which is my situation), you are not going to get the rebate... because the requirement is to have EARNED income. Passive income doesn't qualify.
I find it ironic that many of the people who would be helped by the rebate check (middle and lower income retirees who are a year or two short of qualifying for Social Security) are excluded from receiving it. Not only have we seen our incomes cut in half by the Federal bailout of irresponsible lenders and borrowers (rate cuts) but to add insult to injury we aren't even thrown the bone of the few hundred dollars' rebate check.
Anyone who files taxes for the 2007 income taxes is eligible to get the 1-time rebate. If you made less than $75k (I assume that's the aggregate gross income, but not sure about it), then you get $600. If you made more, you get a smaller rebate check. I think, but again am not sure, that everyone will at least get a rebate (albeit less than $600), even millionaires.
This will be a separate check sent in addition to the normal tax rebate you may receive. Those who owe taxes from previous years may get some or all of the tax negated and used to pay off prior taxes. Those who do not file a tax return will not get any rebate. So even if you don't owe money or are due any money, file a return unless you don't care about getting up to $600 from the gov.'t.
No, millionaires don't get a rebate. You don't get anything if you have an adjusted gross income of $174,000 or higher, if filing jointly. You lose $50 for every thousand above $150,000.
No, millionaires don't get a rebate. You don't get anything if you have an adjusted gross income of $174,000 or higher, if filing jointly. You lose $50 for every thousand above $150,000.
You're right; I was mistaken on that old post. My post at #19, dated 3/3/08, has a link to more accurate and thorough info.
There are quite a few inaccurate posts on here, so I wanted to clarify....
not everyone will be receiving a tax rebate check. A single must earn less than 75,000 and a family must earn less than 150,000. Nothing needs to be done, just file your taxes and you will automatically receive a tax rebate check if you qualify. We received a letter from the IRS yesterday stating those numbers.
We earn over the $150,000 and are not eligible, which is absurd in my opinion. Just another example of the government punishing those who earn more and rewarding those who earn less.
Last edited by Davachka; 03-21-2008 at 11:58 AM..
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