What is net income tax liability?

Question

Can someone help me understand things better? I was expecting $600 for my stimulus check and only received $300. I went onto the IRS website and it tells me the factors are due to my net income tax liability on line 57 of my tax return. I checked line 57 and it says NONE. I didn't owe any money and I actually received a little more than a grand back on my return. Why would I only receive $300.00 and not the basic $600 that others got? What the heck is net income tax liability..in everyday terms..lol. Thanks so much in advance!!

Answer 1

Net tax liability is the actual amount of taxes you were charged by the IRS.  From what you said, you paid zero taxes - hence you got more than a grand back from the IRS.  Because line 57 is zero, you only got $300 back in rebate.

Pretty good deal if you ask me - you did not pay andy taxes, and you got $300 from George Bush and friends.

Answer 2

Your net income tax liability is one of the following depending on which form you filed:

· On Form 1040, the amount shown on Line 57 plus the amount on Line 52;

· On Form 1040A, the amount shown on Line 35 plus the amount on Line 32; or

· On Form 1040EZ, the amount on Line 10.

If that amount is $300 or less, then you get $300 as long as you are eligible at all.  You only get the $600 if your tax liability was $600 or more.