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RE: When did you get your economic stimulus rebate? - 5/9/2008 11:52:33 AM
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GregandJenny
Posts: 274
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From: Near Seattle Washington
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quote:
on't owe any back taxes or have any debt that I know of. I did receive a refund so I was thinking if I did owe any back taxes or any other debt such as a student loan it would have come out of that. I can't get through th
I don't think the calculator is correct. The same thing happened to me but it was the opposite. We were only told we would get 600 by the calculator we got 1200.
g
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RE: When did you get your economic stimulus rebate? - 5/9/2008 11:57:12 AM
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PrincessDonna
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I think several people have gotten less than they expected back because they didn't understand how it would be figured. I'll try to explain it better than the IRS. 
You must make more in 2007 than $3,000 to qualify, and I believe less than $75,000 if filing single, twice that for married. If you're not between those numbers, you get nada. Sad, but true. Also, if you are someone else's dependent...nada.
Look at your tax return. You need to know what your tax liability is...how much did you pay in federal taxes for 2007? This includes amounts already taken out of your paycheck each week, as long as you don't get those back on your return. If you had no tax liability, the amount you will get back is reduced to $300 for single, $600 for married. If you had tax liability over those numbers, I believe you get whatever you paid in up to $600 for single or $1,200 for married. I *think* you can get an amount somewhere between those numbers with the right amount of tax liability, but since I'm not in that group, I can't be sure.
Add to that $300 for each dependent (I believe under 17...again, I didn't focus on this because all of ours are under 9, so the top age didn't affect me).
And just as with regular tax returns...if you owe back child support, have defaulted on student loans, or owe back taxes, Uncle Sam will take that out before you see any of it.
< Message edited by PrincessDonna -- 5/9/2008 12:04:57 PM >
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RE: When did you get your economic stimulus rebate? - 5/9/2008 1:51:09 PM
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stateofgrace
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We are supposed to get ours today, but the IRS web site says it has no information on when we will get ours. Aarugh! The only thing I can think of is that we did file taxes (electornically) close to the April 15 deadline (like April 12 or 13) but our return was processed quickly and wihout a problem. It's not a problem but I'll have to shuffle money out of savings if it doesn't arrive early next week, and then shuffle it back in when the rebate gets here.
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RE: When did you get your economic stimulus rebate? - 5/9/2008 2:31:45 PM
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VisitorinWaiting
Posts: 755
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I actually got through to the IRS today...FINALLY. They said that even though they started early, and news stories are saying that everyone's will come early, the dates on their website are still the dates to go by. So...I guess we'll have to wait until next Friday and see what happens. I was able to get ONE of the two automatic payments shifted, the least of the two, unfortuately...still working on the other one. Sad...no money for a Mother's Day outing on Sunday. My daughter and her surgery was more important anyway... :)
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RE: When did you get your economic stimulus rebate? - 5/9/2008 3:09:46 PM
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Consecrated2God
Posts: 4759
Joined: 4/4/2005
From: Jesus Land
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quote:
What would happen to anyone who had that money allocated and then the congress and the president decided that they didn't need to send the money? it wouldn't be a good situation unfortunately for many.
I seriously doubt that would happen, being an election year and all.
VisitorinWaiting, I'm glad you were able to get one of your automatic payments shifted, anyway.
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RE: When did you get your economic stimulus rebate? - 5/9/2008 3:40:50 PM
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VisitorinWaiting
Posts: 755
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I got both payments worked out. The second, the one that was the higher payment, was actually not due until NEXT MONTH! Well, that's all great news. So, now, whenever it comes is whenever it comes. Of course, I'd rather it be sooner than later, but I have no control over it...so nothing I can do will help....
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Hebrews 11:13,16 "...They said they were like visitors and strangers on earth...they were waiting for a better country, a heavenly country." (NCV)
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RE: When did you get your economic stimulus rebate? - 5/9/2008 6:08:59 PM
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devinevessel
Posts: 332
Joined: 8/28/2006
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quote:
ORIGINAL: PrincessDonna
I think several people have gotten less than they expected back because they didn't understand how it would be figured. I'll try to explain it better than the IRS.
You must make more in 2007 than $3,000 to qualify, and I believe less than $75,000 if filing single, twice that for married. If you're not between those numbers, you get nada. Sad, but true. Also, if you are someone else's dependent...nada.
Look at your tax return. You need to know what your tax liability is...how much did you pay in federal taxes for 2007? This includes amounts already taken out of your paycheck each week, as long as you don't get those back on your return. If you had no tax liability, the amount you will get back is reduced to $300 for single, $600 for married. If you had tax liability over those numbers, I believe you get whatever you paid in up to $600 for single or $1,200 for married. I *think* you can get an amount somewhere between those numbers with the right amount of tax liability, but since I'm not in that group, I can't be sure.
Add to that $300 for each dependent (I believe under 17...again, I didn't focus on this because all of ours are under 9, so the top age didn't affect me).
And just as with regular tax returns...if you owe back child support, have defaulted on student loans, or owe back taxes, Uncle Sam will take that out before you see any of it.
Well you have seem to hit the nail on the head. You do explain it so much better. I got through a hot line number and my rebate was reduced "either due to your income or your tax liability". I know it was due to my tax liability. I guess it boggled my mind that my parents who make over 6 figures together got $1200 dollars. Some thing is definetely better than nothing!
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RE: When did you get your economic stimulus rebate? - 5/10/2008 8:47:49 AM
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Consecrated2God
Posts: 4759
Joined: 4/4/2005
From: Jesus Land
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quote:
ORIGINAL: VisitorinWaiting
I got both payments worked out. The second, the one that was the higher payment, was actually not due until NEXT MONTH! Well, that's all great news. So, now, whenever it comes is whenever it comes. Of course, I'd rather it be sooner than later, but I have no control over it...so nothing I can do will help....
Good for you! I'm glad to hear it. 
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RE: When did you get your economic stimulus rebate? - 5/10/2008 9:07:32 AM
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redeemedsaint
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I haven't gotten mine yet. Still waiting.
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RE: When did you get your economic stimulus rebate? - 5/12/2008 10:50:40 AM
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stateofgrace
Posts: 2211
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We still haven't gotten ours, and both the IRS web site and the automated phone system say that they don't have any information on when we'll get it. We should have gotten it last Friday according to the schedule.
I'm wondering if folks that used TurboTax and direct deposit have gotten their rebate yet? How about folks who filed fairly close to the deadline?
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RE: When did you get your economic stimulus rebate? - 5/12/2008 1:16:23 PM
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VisitorinWaiting
Posts: 755
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We still haven't gotten ours either. None of our family either. Strange. Anyway, we used the Turbo Tax Free Edition that we found through the IRS website because our income fit in the category for the free edition. We also had to file a 1040X because we got a W-2 sometime in late February...but our address had changed and we didn't notify the employer...anyway, I'm wondering if our filing a 1040X had anything to do with it...even though it didn't change our tax liability at all...it was a small amount of income on that particular W-2.
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Hebrews 11:13,16 "...They said they were like visitors and strangers on earth...they were waiting for a better country, a heavenly country." (NCV)
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RE: When did you get your economic stimulus rebate? - 5/12/2008 2:01:47 PM
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stateofgrace
Posts: 2211
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We didn't do anything unusual. We did get a larger than normal (for recent years) return, because both my husband and older daughter had taken classes where the tuition qualified for a deduction. And we did file close to (but not over) the April 15th deadline. Our return came in quickly.
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RE: When did you get your economic stimulus rebate? - 5/12/2008 2:09:19 PM
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becomingworthy
Posts: 30
Joined: 8/13/2006
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If you filed with Turbo Tax, even if you did direct deposit or paid through EFT, the IRS looks at it as a check, and you will receive your rebate in check form on the days stated for check releases. The see a 3rd party in there with the direct deposit/EFT with Turbo Tax (and any of them, I guess).
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RE: When did you get your economic stimulus rebate? - 5/12/2008 2:15:45 PM
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stateofgrace
Posts: 2211
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I just found the answer on the Turbo Tax web site.
ANYONE WHO USED TURBO TAX AND HASN'T GOTTEN YOUR ECONOMIC STIMULUS REBATE PER THE IRS DIRECT DEPOSIT SCHEDULE, SEE BELOW!
Basically, check to see if you used the "refund transfer" service of Turbo Tax. This is a service that allows you to pay for your tax e-filing from your refund amount instead of using a credit card. What happens is that Santa Barbara Bank & Trust sets up a temporary account to receive your return and then forwards it to your bank. Under this system, the IRS does not directly receive your bank account information. Therefore, those taxpayers will be getting their checks through the mail.
Anyone who did a "refund anticipation" loan when using a tax preparer service will be treated the same.
Edited to add: BecomingWorthy, I guess we cross-posted, since I see you have posted the same info.
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<-- Moonlight memorial photo. Vampire characters tend to have long lives...unless their television series is on CBS. :(
Blog: CrossCommentary
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RE: When did you get your economic stimulus rebate? - 5/12/2008 4:40:05 PM
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VisitorinWaiting
Posts: 755
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Since we did the Turbo Tax Free Edition, we didn't have to pay any fees to them... What I have read says that if you had your fees deducted from your refund amount for Turbo Tax, that you will fall under the check sent in the mail...
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Hebrews 11:13,16 "...They said they were like visitors and strangers on earth...they were waiting for a better country, a heavenly country." (NCV)
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RE: When did you get your economic stimulus rebate? - 5/12/2008 5:05:45 PM
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stateofgrace
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Yes, that takes us from the May 9th date to late in June. Bummer.
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<-- Moonlight memorial photo. Vampire characters tend to have long lives...unless their television series is on CBS. :(
Blog: CrossCommentary
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RE: When did you get your economic stimulus rebate? - 5/12/2008 5:07:24 PM
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Galilee
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I just found out that I get my money on Friday. I checked about 10 hours ago, and it wasn't there then.
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RE: When did you get your economic stimulus rebate? - 5/12/2008 10:37:41 PM
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VisitorinWaiting
Posts: 755
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Every time I go to "Where Is My Stimulus Payment?", it would tell me that there was no info available at this time. Tonight, we checked, and it FINALLY said that we were due to get ours on May 16th, the originally scheduled date. I don't know why there was so much hub-ub about them coming early... Anyway, we got $600 less than we were thinking we were going to get, and $600 less than the calculator said. I'm really not upset about it. I understand now why that was, and the thing we wanted it for the most, it will take care of...so I'm happy about it. It took a little longer than expected, but oh well...that's the way it goes sometimes, huh?
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Hebrews 11:13,16 "...They said they were like visitors and strangers on earth...they were waiting for a better country, a heavenly country." (NCV)
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RE: When did you get your economic stimulus rebate? - 5/13/2008 12:45:48 PM
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JazTek
Posts: 31
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WE got ours May 9th....
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RE: When did you get your economic stimulus rebate? - 5/15/2008 10:30:29 AM
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danas_mom
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Ours is scheduled for the 16th, and is also going to be $300 less than the original calculator said. 
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RE: When did you get your economic stimulus rebate? - 5/16/2008 8:52:29 AM
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VisitorinWaiting
Posts: 755
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We got ours today...the original scheduled date...$600 less than we expected and what the calculator said...oh well... It's still very beneficial.
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Hebrews 11:13,16 "...They said they were like visitors and strangers on earth...they were waiting for a better country, a heavenly country." (NCV)
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