Stimulus Payment Schedule for Tax Returns

[Disney8704]

Well we are DEF. WAY under $150,000. DH is the only one who works. I stay home. Last year I did go to college, and we claimed that on the taxes. DH only makes a little over $17,000 a yr. Which gives you the perfect example - military does not get paid enough! However, the calculator still says we're only getting $600! So Im really praying its wrong and we are getting that $1200!

Correct - the maximum income threshold for receiving ALL of your rebate check (for married couples filing jointly) is 150,000. After 150,000 adjusted gross income it will start to go down in terms of total rebate received eventually capping out to nothing after 175,000 (and this means if you make jointly 175,000 and have 10 kids you get nothing).

 

[truedisneyfan]

We are in the last batch. I just wish they would have done it according to when you filed. We had to wait on the IRS to open since we had everything in the software ready to file before they started accepting them.

 

[kimbac3]

Well we are DEF. WAY under $150,000. DH is the only one who works. I stay home. Last year I did go to college, and we claimed that on the taxes. DH only makes a little over $17,000 a yr. Which gives you the perfect example - military does not get paid enough! However, the calculator still says we're only getting $600! So Im really praying its wrong and we are getting that $1200!

I'm with you! we are way under $150,000 too. Same deal DH works and I'm a stay at home mom. Here's Pixie dust that we'll both get more than the calculator says

Kimba

 

[Anjelica]

military does not get paid enough!

I am 100% behind you there. You do get paid a little more when you are in the middle of a combat zone but that's pretty small as well.

 

[Anjelica]

it does say "up to" so maybe it doesn't mean full refunds so I am not sure exactly what that means:

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.

Single filers with AGI below $75,000 will get rebates of as much as $600. Couples with AGI below $150,000 will receive rebates of up to $1,200.

In addition, parents will also receive $300 rebates per child under 17; there is no cap on the number of qualifying children eligible.

 

[disneygirl_wdw]

I unfortunately will not be getting anything this year. Even through I met most of the qualifications, the letter that came in the mail says since I was filed as a dependent for 2007 I don't qualify. Which that doesn't make much sense, since I am over 17 my mom can't even get anything more on me. I think I might be able to next year. My husband is also getting $600, so that will help some. I really wanted to go on a cruise this year through or at least pay off my credit card.

 

[Lisa06468]

it does say "up to" so maybe it doesn't mean full refunds so I am not sure exactly what that means:

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.

Single filers with AGI below $75,000 will get rebates of as much as $600. Couples with AGI below $150,000 will receive rebates of up to $1,200.

This is where everyone has been mislead. It reads to be eligible for a full rebate...below $75k.... well, DH made below $75k and we are not getting the full rebate. He was out on comp for 5 months. Had he worked the whole year - thus making his income higher on the tax return (but a little less than $75k) - we would have gotten the whole amount. Now, we are only getting about $1660, instead of $2100. Big difference in my eyes!!

 

[Jalva22]

Anyone know how much longer a paper check mailing will take than direct deposit? Mine would be in my account by mid-May according to the schedule with direct deposit. However, I owed this year and submitted my return before seeing the advice about including direct deposit info on the return even if you owe. So mine will be by paper check.

 

[Disney8704]

See thats a big condriction (sp?). How can it be both ways? Its either full rebate or up to $1200. One part cant say that joint filers will be eligible for full rebate and another part says up to $1200. So which is it?

it does say "up to" so maybe it doesn't mean full refunds so I am not sure exactly what that means:

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.

Single filers with AGI below $75,000 will get rebates of as much as $600. Couples with AGI below $150,000 will receive rebates of up to $1,200.

In addition, parents will also receive $300 rebates per child under 17; there is no cap on the number of qualifying children eligible.

 

[disneychrista]

If you only owed $490 you will only get a rebate of $490, not the full $600. Same for joint if you only owed/paid $1076, you will only get $1,076. Plus the full $300 for each dependent under 17.

If you did not owe/pay ANY tax but had at least $3,000 in income you only get $300 regadless of married/single and the $300 for any depedents under 17.

 

[Disney8704]

But we didnt owe anything in taxes. Infact we got $791 back in taxes this year.

If you only owed $490 you will only get a rebate of $490, not the full $600. Same for joint if you only owed/paid $1076, you will only get $1,096. Plus the full $300 for each dependent.

 

[Anjelica]

See thats a big condriction (sp?). How can it be both ways? Its either full rebate or up to $1200. One part cant say that joint filers will be eligible for full rebate and another part says up to $1200. So which is it?

I wouldn't say its a big contradiction because it says for the 600.00 portion "as much as".

As for the explanation the user gives regarding the partial rebates even if you don't meet the threshold actually makes sense. That is why the calculator is more extensive then "put your adjusted gross income in and bam".

 

[disneychrista]

But we didnt owe anything in taxes. Infact we got $791 back in taxes this year.

But did you get back ALL that you paid in? Paying taxes does not mean you write out a check. You are paying through payroll deductions. I paid $1,206 but I also got back a refund because I paid in over that amount through my PR deductions.

 

[LisaNJ25]

But did you get back ALL that you paid in? Paying taxes does not mean you write out a check. You are paying through payroll deductions. I paid $1,206 but I also got back a refund because I paid in over that amount through my PR deductions.

yep, what you said make sense...I was also wondering why mine was a little less. We paid $1073 for federal (not owed in addition like I think the other poster that responded though was ment). When I did the calculator online it says we are getting back 2273 which now makes sense

 

[Disney8704]

DH paid out $796 in federal income tax withheld and he got back the $796.

But did you get back ALL that you paid in? Paying taxes does not mean you write out a check. You are paying through payroll deductions. I paid $1,206 but I also got back a refund because I paid in over that amount through my PR deductions.

 

[disneychrista]

DH paid out $796 in federal income tax withheld and he got back the $796.

Since you did pay/owe any tax you get $300 for earning income. I am guess since you are married you are each getting the $300.

 

[timandlesley]

How does this work if you are married filing joint and one person makes the income and the other only made around 3000 not paying many federal taxes on that little amount? I am so confused!
Lesley

 

[LisaNJ25]

How does this work if you are married filing joint and one person makes the income and the other only made around 3000 not paying many federal taxes on that little amount? I am so confused!
Lesley

I made 0 and we still got the correct amount.. just a little less like I put in the previous post. I believe its as long as the total payed into federal is over 1200 you get the whole 1200. It doesnt matter which one or you did or if it was combined

Did you try the link for the calculator where you go off your 1040?

 

[angwill]

We made way under the max as well and infact owe $800 over the thousands we paid in taxes. We are only getting $300 per adult as well so $600 total for adults and $300 for our son. WooHoo I will get a whole $100 after I pay the $800 we owe. lol I thought that would be a good thing if we have to claim the rebate year like our account is telling us we have to but some here are saying it is not taxable?

 

[ktnystrom]

Just in time for WDW vacation....woohoo!!!`