Why was my tax rebate $300 when everyone seems to be getting $600?

Question

I'm single but my single friends got $600.

WTF? Where's the love, Uncle Sam??

Answer 1

i got $600, my brother also got $600 we are both single and NO kids. but my parents only got the $300. so im not sure how they decided who got what

Answer 2

I'm single.  I also received $300.

Answer 3

I think it varies based on your salary

Answer 4

Your tax rebate was only $300 because you didn't have any tax liability which means you didn't pay the IRS anything. If you make less the $12,000 or around that if  you are single and somewhere around 22,000 or so with a child you didn't pay anything in federal taxes or got everything back that you paid in federal taxes and you would only get $300. If you did have tax liable you would have gotten $600 or a prorated amount depending on how much you paid to the IRS. The same goes for people that made to much. The rebate starts to phase out for  Single people  who make 75,000  and married people who make more than $150,000.

Answer 5

It went by how much your tax liability was. If you had to pay $

0-300 you received $300, if you paid more than $300 then you received $600. Also ones who had dependents got an additional $300 per eligiable dependant, up to two, I believe...

I hope this helps you out! It all depends on how much in taxes you had to pay in. Basic equation to figure out how much you paid in would be... Total Federal taxes paid in for the 2007 year minus the refund recieved after filing.

Answer 6

The dollar amount of the Stimulus Rebate was based on the amount of tax you paid.  To get $600.00 you had to have paid $600.00 or more tax on your return.  If your return had no tax then you got the minimum $300.00.  Hope this helps.

Visit the IRS web site at www.irs.gov.  There is all the information on the Stimulus program.

Answer 7

It depends on how much you made as well as how many kids you have.

Answer 8

The rebate payment is equal the amount of tax liability on the return (tax liability on the return Form 1040 line 46 or Form 1040A line 28) with a minimum amount of $300 and a maximum amount of $600 for individuals.  

If you do not receive full amount of $600 now, then you may get the balance amount when you file your 2008 return, and you become eligible for the tax rebate.

For information on stimulus tax rebate read: http://taxipay.blogspot.com/2008/02/are-...

Answer 9

Do your friends have a child? If not, then something is wrong and they got too much. They should probably contact the IRS and ask them about it, because if it is found out that there was a mistake, they will be billed for it. ;-)

Answer 10

Geez, if you really thing everyone else is getting $600, you should read more of this board - there's somebody every hour asking this.

Your stimulus payment is based on your net federal income tax for 2007. If your tax was between $300 and $600 on your return, you get back everything you paid. If your tax was less than $300, you get an even better deal, and get $300, even MORE than you paid in. If you paid over $600 though, your rebate is limited to $600.

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.

It sounds like your tax liability was either zero, or was less than $300, so you'd be eligible for $300.

Answer 11

its based on how much you made and how much taxes you owed. my son made less than me, but owed more taxes and got a bigger check than I did. A single person with no kids owes more taxes so they would get a bigger check. Parents with kids owe less taxes so their check would be smaller per person. I got $300 for me and $300 for my daughter. My son got nearly $600 for himself because his taxes were way more than me because he gets less credits.