Why was my stimulus check only $321?

Question

The original letter I got said that I would receive $600. Then I got another letter saying it would only be $321, and sure enough when my check came, it was $321!

The letter they sent attempted to explain, but to be honest, I still don't get it.

Everyone else I've talked to has received the full $600.

Why was mine so low?

Any help here?

I'm 22 years old, worked all last year, and got married in April of this year, if that helps.

(By the way I'm not complaining since it's still extra money, just curious.)

Answer 1

The original letter did NOT say that YOU would receive $600.  It said "individuals who qualify may receive as much as $600..."and that is very different from saying you will get $600.

You got $321 either because

- that's what your tax liability was for the year so that's all you are eligible for

- you made over $75,000 for the year so your payment was reduced, or

- you owe back taxes, overdue child support, or defaulted student loans, so some of it was taken for that.

By far the most likely reason is that $321 is all the tax you paid.  If you still have that first letter, read it again, including the back which shows how the payment is calculated.

Answer 2

Go back and reread the first letter.  It said if you qualified you'd get $300.  If you actually paid more in tax, you'd get more (unless your income went above $75,000), but the most would be $600.

Your tax bill apparently was $321, so that's all you got.

Don't feel bad.  Most taxpayers seemed to have missed the "up to" part.

Answer 3

Either you had a tax liability that was too small, or an adjusted gross income that was too large.

If you filed a form 1040, add lines 57 plus 52.

If you filed a form 1040A, add lines 35 plus 32.

If you filed a form 1040EZ, look at line 10.

If the answer is $321, then your tax liability was too small to get the full $600 and that explains the reason.

If those lines are more than $600, then your may have earned too much money.  Look at the bottom line on the first page of your 1040 (or 1040A).  This is your AGI or Adjusted Gross Income.  If it is:

($600 - $321) / 5% + $75,000 or $80,580, then you made too much money to get the $600.

Either way, the remaining amount may still come to you.  Next year when you file your 2008 tax return, remember that you got only $321.  They will ask you what you and your husband each got.  Add you $321 to his whatever.  Chances are you may get the remaining $269 (no promise).

Answer 4

The IRS is tapped out due to many illegal immigrants taking the money. In fact I have not recieved mine. The letter explains mine has been delayed. And says to call in 60 days if I dont recieve anything

Answer 5

It has something to do with taxable income..... In form 1040 you get the greater of line 52+57 or $300, up to 600 with an addition 300 for each child.... this however does have an income phase out.....

*Line 52- Child Tax Credit.......Line 57- is tax

I do believe the stimulous is just an advancement on a one time credit for the tax year of 2008...... you will take this credit in 2008 and if you received more from the stimulous check  then you still keep the difference...free money... so you may be able to take the additional $279 credit on your 2008 taxes if you qualify.... This will not count as taxable income..... and will not have any outcome on most peoples taxes next year