Economic Stimulus Info (tax Rebate)

[scottwvu]

here is the break down on payment info.

if you have direct deposit.

Last two SSN digits: Payment will be transmitted by:
00 through 20 May 2
21 through 75 May 9
76 through 99 May 16

paper check (non D.D)

Last two SSN digits: Payments will be mailed by:
00 through 09 May 16
10 through 18 May 23
19 through 25 May 30
26 through 38 June 6
39 through 51 June 13
52 through 63 June 20
64 through 75 June 27
76 through 87 July 4
88 through 99 July 11


the ammount will be 600 per single, 1200 per married and 300 per kid

[lorenjr83]

direct deposit will start on April 28 now not the 2nd, and paper checks will start mailing on the 9th now. its been on the news recently that thing were ahead of schedule

[wilkin250r]

So if you're married and you filed jointly, which social security number do they use?

By that schedule, mine would be early, but my wife's would be late. But it's all going to come together, since we filed one tax return together. So when should I expect it?

[GPracer2500]

Originally posted by wilkin250r
So if you're married and you filed jointly, which social security number do they use?

By that schedule, mine would be early, but my wife's would be late. But it's all going to come together, since we filed one tax return together. So when should I expect it?

Which ever name appears first on the 1040. If your name is listed on top then it will follow your SS#.

[JForestZ34]

my girl already had hers direct deposited on Sat.


James

[blacknblue#2]

how are you gonna know it was direct deposited? do they send you a letter letting you know it was or are you suppose to watch for it every day?? just curious

[bwamos]

You'll probably receive something in the mail, but I'd imagine you;ll see the deposit before you see the letter.

[KXRida]

hmm I don't think my parents filed me on their taxes, so does that mean I get $600?

[wilkin250r]

Originally posted by blacknblue#2
how are you gonna know it was direct deposited? do they send you a letter letting you know it was or are you suppose to watch for it every day?? just curious

That made me laugh...

Do you not check your balance fairly regularly? Or do you have SO much money that you won't really notice an extra $600 in your account?

[GPracer2500]

Originally posted by KXRida
hmm I don't think my parents filed me on their taxes, so does that mean I get $600?

Only if you filed a tax return of your own and meet the other eligibility requirements.

[blacknblue#2]

Originally posted by wilkin250r
That made me laugh...

Do you not check your balance fairly regularly? Or do you have SO much money that you won't really notice an extra $600 in your account?

hahaha i definitely dont have so much money. 600 bucks is gonna be great. But alot of times ill just keep a written record of what i spend and just check my account every once in a while to make sure my numbers match. I am just curious if they are gonna let you know when it goes in there or just let you figure it out on oyur own lol...............sorry wasnt trying to sound rich lol

[scottwvu]

Just log on to whatever bank you have online and check your balance that way :D

[blacknblue#2]

Originally posted by scottwvu
Just log on to whatever bank you have online and check your balance that way :D

dude, you dont understand my bank........my town still does stuff in an old school fashion. My bank dont have a website............They just recently got an atm hahahahha

93 here...great just great.

[scottwvu]

My girlfriend's last two # are 98. No joke. I just told her if she needed hers sooner, she could have mine and pay me back later (My #s are 27 and I have direct deposit;) ).

[450Rfutureracer]

im 16 and i heard that if you filed taxes in 2007 in which i did that you get the tax rebate but i also heard that the is a certain amount of money or something else you have to meet to get the money, so my question is that if im going to get a check or not?

[GPracer2500]

Originally posted by 450Rfutureracer
im 16 and i heard that if you filed taxes in 2007 in which i did that you get the tax rebate but i also heard that the is a certain amount of money or something else you have to meet to get the money, so my question is that if im going to get a check or not?

First, your parents can't have been able to claimed you on their income tax return as a dependent. The IRS says it doesn't matter if they actually claim you or not. Being an eligible dependent excludes a person from the stimulus payments. AFAIC, this is kind of a grey area. I'm not sure how the IRS will determine if a person is an eligible dependent but not actually claimed as a dependent.

Second, if you had at least $3000 in earned income you'd meet the income threshold. That would qualify you to receive at least $300. Social Security payments also count towards that $3000 threshold (probably not a factor for anyone around here).

Third, to receive more than $300 ($600 being the max per individual) you'd need to have had an income tax liability of more than $300. Whatever your tax liability was up to $600 is what you'll receive. For example: You gross income was $12,250 and the income tax liability on that income was $350. $350 is what you would receive as a stimulus payment.

Note: The amount of your income tax liability is independent of any refund or balance due shown on your return. Don't let that throw you. Your income tax liability could have been fully paid for through the withholding on your paychecks (or more than payed for in cases where your return showed a refund). But that doesn't mean you didn't pay income taxes on your wages.

Clear as mud?? ;)

Bottom line: You'll get between $300 and $600 depending on how much money you made as long as you made at least $3000 and are not a dependent.

[gojk]

Originally posted by GPracer2500
First, your parents can't have been able to claimed you on their income tax return as a dependent. The IRS says it doesn't matter if they actually claim you or not. Being an eligible dependent excludes a person from the stimulus payments. AFAIC, this is kind of a grey area. I'm not sure how the IRS will determine if a person is an eligible dependent but not actually claimed as a dependent.

Second, if you had at least $3000 in earned income you'd meet the income threshold. That would qualify you to receive at least $300. Social Security payments also count towards that $3000 threshold (probably not a factor for anyone around here).

Third, to receive more than $300 ($600 being the max per individual) you'd need to have had an income tax liability of more than $300. Whatever your tax liability was up to $600 is what you'll receive. For example: You gross income was $12,250 and the income tax liability on that income was $350. $350 is what you would receive as a stimulus payment.

Note: The amount of your income tax liability is independent of any refund or balance due shown on your return. Don't let that throw you. Your income tax liability could have been fully paid for through the withholding on your paychecks (or more than payed for in cases where your return showed a refund). But that doesn't mean you didn't pay income taxes on your wages.

Clear as mud?? ;)

Bottom line: You'll get between $300 and $600 depending on how much money you made as long as you made at least $3000 and are not a dependent.

There is an upper cap also, right?

I think if you made more than $80k, then you do not receive anything. Correct me if I am wrong. Just what I have heard.

[my88r]

Originally posted by gojk
There is an upper cap also, right?

I think if you made more than $80k, then you do not receive anything. Correct me if I am wrong. Just what I have heard.

i hope you dont get any money. if you make that much.:grr:

[D Bergstrom]

Originally posted by gojk
There is an upper cap also, right?

I think if you made more than $80k, then you do not receive anything. Correct me if I am wrong. Just what I have heard.

$75,000 is the upper cap to get the full $600 back. For every $1,000 over, you get back $50 less. So anything over $82,000, you get nothing back. Yeah, I get nothing back, that is how I know this. (This is if you are single, for married people, the upper cap is $150,000 combined to get the full $1,200 back. Not sure how it works if you are married and make over $150,000.)

Doug

[D Bergstrom]

Originally posted by my88r
i hope you dont get any money. if you make that much.:grr:

Bull****. Just because I make good money I do not deserve anything? I pay my taxes just like everyone else. If you saw how much I paid in taxes it would make you sick.:eek2: I worked hard and struggled with school and working my way up to where I am now. (Trust me, I ate alot of Top Romin and Chef Boyardee in college because that was all I could afford.) Does not really matter, I would have probably just spent it on gas anyway.:(

Doug

[gojk]

Originally posted by my88r
i hope you dont get any money. if you make that much.:grr:

So because I make more than you, I don't deserve anything?

$80k/year is still not even what I would consider the upper tier of middle class.

I am not saying I do or do not make this much money, but I work almost 60+ hours a week, and I am sure I pay more in taxes than you would care to imagine.

This may not be the case, but you seem like the typical person that puts in as little effort to things as you possibly can, yet expect just as much as the person putting in the time and effort to be successful. I work with plenty of people like you, that could care less to make themselves more marketable, yet they don't want anyone else to make more money or do better than them. Matter of fact, alot of people I work with would rather see other people fail than see themselves succeed. It is a sad world we live in.

[my88r]

Originally posted by gojk


but you seem like the typical person that puts in as little effort to things as you possibly can, yet expect just as much as the person putting in the time and effort to be successful. I work with plenty of people like you, that could care less to make themselves more marketable, yet they don't want anyone else to make more money or do better than them. Matter of fact, alot of people I work with would rather see other people fail than see themselves succeed. It is a sad world we live in.

you do not need to take it that far on the internet. you do not know me. that is know where near me.
:rolleyes:

[my88r]

Originally posted by D Bergstrom
If you saw how much I paid in taxes it would make you sick.:eek2
Doug


i hope you half to pay high taxes. if i made over 100,000 i would expect to pay alot. i also would try to help out my community. thats just my opinon though.
:macho

[gojk]

Originally posted by my88r
you do not need to take it that far on the internet. you do not know me. that is know where near me.
:rolleyes:

You are right, I don't know you, but when you make comments like that, that is what how you come across.

[wvspeedfreak]

Nobody should be penalized for working their arse off to get up the ladder.The ones that are sitting around collecting welfare or disability that don't really need it are the ones that need cracked down on.

[trick450r]

so every single person over the age of 18 gets the $600?

[Mxjunkie]

Originally posted by trick450r
so every single person over the age of 18 gets the $600?

I was wondering the same thing because a friend of mine works under the table so what happens there? I'd rekon he gets nothing right?

[GPracer2500]

Originally posted by trick450r
so every single person over the age of 18 gets the $600?

No.

[GPracer2500]

Originally posted by Mxjunkie
I was wondering the same thing because a friend of mine works under the table so what happens there? I'd rekon he gets nothing right?

You have to file a 2007 tax return to be eligible to receive anything this summer. Since the payments this summer are actually advanced payments on a new one-time credit for 2008 returns, he might be able to get it next year depending on the circumstances.

[ohsobad_chevy]

My parents claimed me as a dependent......does that mean that I will not receive a check?

[Quad18star]

Originally posted by ohsobad_chevy
My parents claimed me as a dependent......does that mean that I will not receive a check?

Just chimming in from another contry with different rules ... but from what I've read ... that is correct , you'll get nothing .

In return, the result of your parents claiming you as a dependent, probably means they'll have to pay less in taxes , or they'll receive a bit more money if anything is comming to them.

We follow pretty much the same guidelines up here in Canada as you guys do , and this is generally how it works.

My $0.02 for whatever it's worth.

[bwamos]

Here's a calculator to estimate your tax rebate.

http://www.irs.gov/app/espc/

[SRH]

hmm i had my income tax direct deposited but have not seen a stimulus check yet, anyone else in the same boat, i should of recierved mine by the 16th according the the original thing posted, anyone got any info?

[ohsobad_chevy]

My girlfriend was supposed to get 600 bucks but she only got 423 or some crap.....wonder whats up with that?

[<DRS>GPF]

i only received money for me, my wife and son, but not my 17yr old daughter.(whom i claim as a dependent)

it mostly seemed clear until then.. thanks for giving me back a pinch of my almost 35% of paid income tax george..

TAX RANT ON
i wouldve rather they just lower all tax tables and cut back on allowed exemptions to everyone, especially business exemptions, leveling the taxable playing field for all.

if everyone was evenly taxed on their gross income, with no exemptions, regardless of how much or how little income, then a persons value to the economy would be no more or less than the next person.
allowing businesses to claim phone, utilities, miles, maintenance, vehicles, etc. etc. is unfair to every other taxpayer who has the same needs to survive, but get no "breaks" for. sink, swim, or turn the lights off and go get a real job.

-im for a flat tax, or a consumption tax.. no freebees(including subsidies) for businesses or persons of any kind..
-welfare/public aid recipients should not be allowed to file for or receive a tax return of any kind.
-seniors shouldnt be taxed on any non-employment income, nor should they need to file or receive tax returns.
-kids 17yrs old or less shouldnt be taxed whatsoever.
-only those filing for taxes should be allowed to vote.

TAX RANT OFF

[SRH]

i hope there not trying to dick me

[jcv400ex]

Originally posted by SRH
hmm i had my income tax direct deposited but have not seen a stimulus check yet, anyone else in the same boat, i should of recierved mine by the 16th according the the original thing posted, anyone got any info?

If you're like me, I had direct deposit, but I had my tax filing fees deducted from my return, so that means I will now get a paper check, instead of the direct deposit.....BULLCHIT!!! if you ask me anyway...:ermm: