How is the Economic Stimulus Rebate 2008 calculated?
How is the Economic Stimulus Rebate 2008 calculated. According to the irs calculator (available in irs.gov site) for single filing its 0 & joint filing its 00. I filed jointly & with a dependent for 2007 tax returns but received only 0 towards stimulus rebate. Where can I appeal for this.
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June 3rd, 2009 at 12:43 am
You obviously DIDN'T run through the IRS calculator since it doesn't say that. You have to enter the numbers from your tax return into the web form and it will calculate your estimated refund based upon those numbers.
The rebate is UP TO $600 for singles and UP TO $1,200 for married couples. The minimum rebates are half of those amounts and depend upon your tax liability as shown on your tax 2007 return. A married couple filing jointly with one dependent child would only receive a base rebate of $600 if their AGI was less than about $26,900. To receive the full $1,200 base rebate they would need an AGI of more than about $32,900.
Therefore if your AGI was $26,900 or less, $900 is the correct amount of your rebate including the $300 kicker for your child. There is no appeal; the IRS will pay you what you're entitled to automatically. However you will show the amount you received on your tax return next year. If you would have been entitled to more based upon your actual 2008 income, you'll receive the balance as an addition to your 2008 refund that you'll receive in 1009.
June 3rd, 2009 at 12:43 am
You need to read the info closer. The government did NOT promise you $1500, it was UP TO $1500. Your portion, $600 for mom and dad was based on actual tax liability.
If you paid less than $600 in taxes, so you got the minimum amount.
There is nothing to appeal.
June 3rd, 2009 at 12:43 am
First response is sound. Go to the IRS web site for details.
June 3rd, 2009 at 12:43 am
No. It's UP TO $600 for individuals and UP TO $1200 for married filing jointly.