Stimulus Tax Refund Question...?

Question

With the stimulus tax refund my wife and I (who filed jointly) only received $600 total. I thought the stimulus tax refund was suppose to be $600 each. Everyone that is married that I know got $1200 total. Is there a reason why we only got $600 or is there something wrong?

Answer 1

No nothing is wrong It's "Up" to 600.00 per person read the fine print.

Answer 2

Your stimulus payment is based on your net federal income tax for 2007. If your tax was between $600 and $1200 on your joint return, you get back everything you paid. If your tax was less than $600, you get an even better deal, and get $600, even MORE than you paid in. If you paid over $1200 though, your rebate is limited to $1200.

The payment is UP TO $1200 for a couple filing joint, not $1200 regardless of whether you paid tax or how much you paid.

Answer 3

The amount of refund is $300-$600 based on your tax liability. so for example if you and your wife had $0 tax liablity then you would get $300 for you and $300 for spouse for a total of $600.

Answer 4

No nothing is wrong.  It is up to $600 per person but it is based on your what your tax burden is.  I thought the same but checked the website of the IRS and found out it was correct.  You may want to check there to be sure.

Answer 5

The rebate is a "rebate" of between $300 and $600 per person based on your tax liability (normally found on line 46 of your form1040 tax return.  If you have less liability than the minumum of $300 each they give you the minumum.  So everyone that you know must have paid more tax in 2007 than you did.