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Additional Details
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jefftay25_2007 | How do I determine my tax rebate check amount? |
All I hear is up to $600 for an indivisual and up to $1200 for a couple and $300 for each dependant. Well I am married with no children and last year I only made $23000.00 since I was in and out of work. And my wife is a student and does not work. Does anyone know how I determine this amount? |
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Richard M
|
Under the terms of the tax rebate bill passed by the House, the amount of the proposed rebate depends on how much Federal Income Tax you paid on your 2007 return. If you are married filing jointly, you would be eligible to receive a rebate of up to $1200 if you paid that much in Federal Income Tax. If you only paid $750 in taxes (less than the $1200 rebate limit), you only get back $750.
Since you had over $3000 in earned income, you would qualify for at least the $300 minimum rebate.
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.
Click on the link below for an automated estimate.
Nothing has passed Congress yet, so all details are subject to change. |
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lunatic
 |
Yes.
Patiently wait until Congress finalizes and passes the bill, and the President signs it into law. Then, all the information you will need will be provided from so many sources your head will spin.
Don't spend it all in one place. |
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Judy1
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Until something is agreed to and the same bill is passed by House and Senate, there is no rebate. So there's no point now in trying to figure out what you'd get - the rules aren't decided yet, or even if there will be one and if so who will get it, how much and when. |
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chatsplas
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WAIT.
Despite all your answers here, NO ONE knows anything. It's all speculation as it hasn't been passed and signed by the PREZ yet. The House & Prez have a proposal and the Senators are debating their own. |
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Cupid
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If you and your wife file jointly, you would get $1200.. even though your wife didn't work, you would still get the $600 per individual tax payer because you file jointly. This is still a tentative rebate. Best Wishes! |
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bud68
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No legislation has been passed yet, so it remains to be seen. |
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Cantor2002
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This is not finalized yet, you are spending this money before you even know if you are getting it for sure. Right now it's just a recommedation, not a law and it hasn't passed. |
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brimir7
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There are no exceptions to what you get. It doesn't matter how much you made or even if you worked at all. This is one of the rare occasions where the government did something they didn't over think. You'll get $1200.00 (husband and wife). |
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