The excise rebate Stimulus bunch?
Will i get $300 or $600. I am claimed by my parents, I compensated a little over $700 dollars into federal taxes and am getting a $300 federal rebate. So what should i grasp?
Answers: If your parents claim you as a dependent, you will be ineligible for the rebate, but you may still benefit under the plan.
While the rebate depends on your 2007 status and income, it is if truth be told a rebate toward your 2008 taxes. According to the Economic Stimulus Act of 2008, taxes would be cut in 2008 from 10 percent to nil percent on the first $6,000 dollars of taxable income for individual taxpayers.
So if you have taxable income within 2008, you will see a tax cut when you folder in 2009.
You will not take anything because you were claimed by someone else. Now your parents might take 300.00 if you were underneath 17 by end of closing year. Check out www.irs.gov for more info.
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Answers: If your parents claim you as a dependent, you will be ineligible for the rebate, but you may still benefit under the plan.
While the rebate depends on your 2007 status and income, it is if truth be told a rebate toward your 2008 taxes. According to the Economic Stimulus Act of 2008, taxes would be cut in 2008 from 10 percent to nil percent on the first $6,000 dollars of taxable income for individual taxpayers.
So if you have taxable income within 2008, you will see a tax cut when you folder in 2009.
You will not take anything because you were claimed by someone else. Now your parents might take 300.00 if you were underneath 17 by end of closing year. Check out www.irs.gov for more info.