I’ve been getting a lot of email questions about the rebates that imply that all taxpayers are entitled to the full rebate. This is not the case. Here are some guidelines that might answer many of your questions…
You may receive a rebate if:
1, You have a valid Social Security number.
2, You file a 2007 tax return.
Your rebate amount may be reduced if:
1, You owe back child support.
2, You have prior federal tax liabilities (meaning for years 2006 and before).
3, You owe other federal liabilities such as overdue student loans.
4, Your AGI is over $75,000 for a single taxpayer or over $150,000 for married taxpayers.
5, Your net income tax liability is less than $600 for a single taxpayer and $1,200 for married taxpayers (check line 52 of your return).
You will not qualify for a rebate if:
1, You don’t file a 2007 tax return.
2, Your net income tax liability is zero and your qualifying income is less than $3,000. Qualifying income includes wages, net self-employment income, nontaxable combat pay, Social Security benefits, certain Railroad Retirement benefits and certain veterans’ payments.
3, Your AGI is over $87,000 for a single person or $174,000 for married taxpayers.
4, You are can be claimed as a dependent on someone else’s return (so yes, college students still being reported on your parents’ tax return, this means you).
5, You do not have a valid Social Security Number. ITINs are NOT sufficient.
6, You are a nonresident alien.
7, You file any of the following returns: Form 1040NR or Form 1040NR-EZ, Form 1040PR or Form 1040SS.
For more information about rebates, see the lists in the sidebar or search for “rebate” using the nifty lijit feature.
Great post!!! I understand what’s happening with the rebate. You have a great way with words.
JJ 😀
Thanks!
Great Post on the rebates! As a money person, we wanted to let you know P.U.B. [Publishers Union of Bloggers] has pending inquires to Widget Providers concerning how they generate their income and what percentage of this income goes to the Blog Publisher making the critical decision to allow a Widget on their site for their readers. In addition we are requesting transparency on the critical issue of how the private statistic from Publishers’s Blogs are being used, hopefully with the Publisher’s permission!
Will publish these results on http://www.blogpublishersunion.com to keep the community of Blog Publishers informed on this critical component of Widgets on our Blogs. Thanks again for this informative site!
Sincerely,
Barney Moran
Founder, P.U.B.
So Kelly, if we owe back taxes, I assume the rebate will be applied to them, yes? Will we receive any notice of that fact?
Anne, yes. You should receive a statement – but it might be after the fact.
thanks kelly, I’m not holding my breath 😉
this rebate seems 2 B a Govt. sting 2 rake in those indebt
Paul, you’re definitely not the first person to suggest some variation on a theme.
I think it’s mostly good PR for the administration but I have questioned “other” reasons…
http://www.taxgirl.com/money-for-nothing-and-your-checks-for-free-is-there-something-more-to-tax-rebates/
Ok riddle me this. We check the IRS website and nothing showed for my social or my wife’s (got the standard can’t find it message). This morning I check and mine is still nothing but I checked the wife’s and it shows a deposit set for May 9 but only 1 qualifying child. Both of our children are 4 and 7 years old both under 16. So we got shorted $300 and for the life of me I can’t figure out why they deted one child with 4 dependents claimed on my 2007 return. Wish me luck seeing that other $300.
I think it is bull because they didn’t say anything about if you claimed less then $3000 then you dont get a check, and if you are married then you are supost to get $1200 regardless and we are only getting $600 and single are only supost to get $300 and they are getting $600, i hate to say this but our goverment sucks for not getting there stuff straight and screwing the working man again. they always do this, tel us one thing and do another and i am sick of it, if they didn’t let our country get so bad then we wouldn’t be in this position, but no we can ship tons of money to other countrys to help them out of dept and us barrow money from other countrys and us going deeper an deeper in dept to help out countrys that have there own money, and they wouldn’t help us if we needed the help, no they just bomb us and we go over there and blow them up and say oh we need to rebuild there houses and economy and say screw ours. about 7 or 8 years ago we were almost out of dept and then here comes BUSH someone that cant run our country and screw us all up, screw him, i cant wait until he is out