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Rebates: What you need to know
Posted: Sat Feb 09, 2008 1:50 pm
by LICKING COUNTY FAN
To be eligible for a full rebate, single tax filers must have 2007 adjusted gross income (AGI) below $75,000 and joint filers must have AGI below $150,000.
http://biz.yahoo.com/cnnm/080208/020808 ... insurance'
Posted: Sat Feb 09, 2008 2:00 pm
by orange-n-brown 365
Good info!
Posted: Sat Feb 09, 2008 5:41 pm
by caglewis
In 2001, when there was a similar tax rebate, taxpayers received checks between July and October. If the check received by a taxpayer exceeded the amount of credit a taxpayer qualified for, then the taxpayer was permitted to keep the excess, according to the Congressional Joint Committee on Taxation.
WRONG - I was anticipating a tax refund of around $100.00 as is usual for me [fixed income, no dependants or deductions].
Then Bushy Baby gave me a "rebate" of $300.00. And the next April it turned out that I OWED $200.00 to the IRS!
When/if you get that "rebate" check in the mail, put it straight into a savings account and don't spend a penny of it - they'll want that money
back sooner or later, and they'll still brag about "giving" it to you and "cutting taxes".
Posted: Tue Feb 19, 2008 7:57 am
by BUCK I
We have a 17 year old that we still claim but will be 18 in May, and a 22 year old that still lives at home and just graduated college as a full time student we still got to claim on the 07 return,but they both have income over 3000.00,so how much will we get?
Posted: Tue Feb 19, 2008 12:14 pm
by Sweet Pea
buck
if you both make less than $75k you will get $1200 for a couple
AND
you will get $300 per child - since you are claiming both on 2007 returns.
total: 1800
late,
sweetpea