Tax Rebate | 1stopmom

Economic stimulus calculator and pay schedule(finally)

Mar 182008

Ok, the IRS has a “official”calculator on their site to help determine exactly how much you will be getting back for your rebate (aka Economic Stimulus Payment). You will need your 1040 tax form and it will take a few minutes to complete. But remember this is just a estimate!

There is even a pay schedule now for those of us that want to know when do I get my money? I need it now! Economic stimulus payments will be issued according to the last two-digits of the main filer’s Social Security number. People who use direct deposit also will be among the first to receive the payments starting May 2. Paper checks will be put in the mail starting May 16.

DIRECT DEPOSIT

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

PAPER CHECK

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

People who file a return after April 15 will receive their economic stimulus
payment, but probably about two weeks later than the schedule shows. A
return must be filed by October 15 in order to receive a stimulus payment
this year.

The IRS website has lots of great information to answer all the questions we all have.

Recipients of Social Security Benefits

Recipients of Veterans’ Benefits

Railroad Retirement Recipients

Low-Wage Workers

The IRS has even went as far as to give examples of different tax scenarios:

Married with Children

Married without Qualifying Children

Married Filing Separately

Single (Head of Household) with Children

Single without Qualifying Children

Tax rebate calculator

Debt, Life No Responses »

Jan 302008

I was visiting boston gal’s open wallet and found this nifty little toy. It is a tax rebate calculator, unfortunately I could not get it work on my wordpress blog. I had no problem on my other blog so here is the link.

Even more about tax rebates

Uncategorized 2 Responses »

Jan 262008

I don’t watch the news except on school mornings while I am getting the kids ready. I got up today and searched the net to see is there any more news about the tax rebate. This is what I found, I am not sure how much is true but I got the info from AOL news .

Some taxpayers will start getting their checks as soon as May.There are a lot of rules concerning who would qualify for what. The Treasury Dept. wants to give money to people who are most likely to go out and spend it.

The whole things seems very confusing. If you worked last year and at least made $3000, you would get a rebate of $300. You would get this money even if you did not pay any taxes in 2007.

If you learned less than $3000 you will not qualify to get the rebate. Included in this group are the wealthy and older people who live soley on Social Security.

If you made more than $75,000 and are single or made more than $150,ooo as a couple you would still get a rebate check. It just would be smaller.

You do not have to be working to get a rebate check. If you are retired and living on a pension or unemployed you may qualify to get a check.

If you are middle class, it seems a little less confusing. Individuals would get $600, couples would get $1200. The rebate will up $300 for each additional child.

People who made less than $75,000 would get a rebate that is the same amount as they paid in taxes. Couples who made less than $150,000 may get as much as $1200. If you made more than $3,ooo and owed no taxes or very little. You will get $300 or $600 if you are a couple.

Whewww! This is just too confusing! It seems like the only people getting left out are the rich and senior citizens. That does not make any sense to me. The seniors should get a little something right?

You can read more at AOL News Boy does my head hurt