Rebates: What you need to know

[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'

[orange-n-brown 365]

Good info!

[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".

[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?

[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