Is the economic stimulus tax rebate based on 2007 tax liability?

Question

if so..just wondering what our refund will be..

my husband and I filed married filing joint..on our 1040A form tax liability (line 28?)is showing to be 1093.00..we also have one child..will the total amount be the 1093. or 1093+300 for the child? Is this right or am i totally wrong in how i'm figuring..i've heard so many conflicting things about how the rufund is determined..my husband is under the impression that we should get the full amount for our family which would be 1500...i've heard it goes by the amount of your tax liability..

Answer 1

For you and your husband it is the amount of your tax liability after the child tax credit. Then the $300 is added for your child. If you paid $1093 in tax, then your check should be for $1393 total.

Answer 2

yes, it's based on your 2007 return.  If you didn't have any credits on your return other than the child tax credit, you should get $1093 for the two of you, plus $300 for you child.  If you DID have other credits, like maybe an education credit, that would subtract from the amount.  Look at line 35, and add back line 32.  That would be the amount for the two of  you, with a minimum of $600 and a max of $1200  - plus $300 for your child.

From what you say, you aren't eligible for the max of $1500 but might get as much as $1393

And by the way, groovykarma is clueless.

Answer 3

You are looking at the wrong line.  Use line 35 and add line 32 back.  If *this* amount is $1093, you get $1093 for you and your husband.  If line 32 was $1000, you also get $300 for your child.

Answer 4

The irs government web site has all the information.  You filed married and jointly? If so you are receiving 600. for him, 600 for you. You claimed one child? if so you are receiving 300 for the child.

It is not by your tax liability; there isn't enough room to put all the information here and you aren't really interested; if you are go to the irs web site for all the information.

If you received earned income credit; then you will receive less money (300 instead of 600). If you owe back taxes to your federal, state or social security, child support= they get there cut first.  This hasn't been put in the papers; but it is a fact.

You can also check the irs.gov website and click on 'where's my check'  to check the status of your check.