$600 IRS Rebate Check

[LeighD]

Anyone been payign attention to this? I know half the board is probably too young to even qualify for this.

The basis of this $600 check is that in order to just-start the economy from entering a recession, every person or couple filing in 2008 for paying taxes in 2007 will each be sent a check for $600 per person or $1,200 per married couple, 4300 for each child living at home. Tax payer must have earned at least $3,000 but less than $75,000 ($150,000 for married couples) in adjusted taxable income to qualify.


This bill is said it will be passed without a problem. Anyone have more details on it?

EDIT:
Here's a link to an article about the checks.
usgovinfo.about.com/od/incometaxandtheirs/a/rebates2008.htm

news.yahoo.com/s/ap/20080129/ap_on_go_co/economy_stimulus

[Cult Member BriGuy]

instead of spending it, everyone should just save it

[fair2flair]

They did this before and it was $300 in 2001 now it is $600. That is great. I will be sending my $600 to RSC for figures!!

[T R W]

Well, most people should apply it to their debt. In reality, people will buy new DVD players and tvs with it instead.

[D-Rock]

wait i made like 8 grand last year...does this make me non-eligible?

[T R W]

derr71290 said:

wait i made like 8 grand last year...does this make me non-eligible?

I would imagine so, since you didn't even make enough to pay income tax. You should be getting a full refund.

[D-Rock]

wait what???explain please, this was my first year working and im totally lost.

[T R W]

If you only make a small amount of money, most or all of the tax money you paid during the year will be refunded when you file your taxes. However, because you technically will have not paid any taxes, you will not qualify for the $600 rebate.

[LeighD]

I know know most people will spend their money on luxury or frivolous items (which is exactly what the government wants people to do, but my wife and I will save ours.

[D-Rock]

so im getting NO MONEY BACK?!!!!?

[LeighD]

derr71290 said:

wait i made like 8 grand last year...does this make me non-eligible?

I think the cut off is $3,000 or whatever the standard deduction is, $5,300.

[T R W]

derr71290 said:

so im getting NO MONEY BACK?!!!!?

Re-read what I typed, or have your parents explain it to you.

[D-Rock]

ok man, thanks

[amxfiles]

thehurricane2 said:

Well, most people should apply it to their debt. In reality, people will buy new DVD players and tvs with it instead.

I have no debt, so DVDs and Neo Geo games here I come

[Kliquid]

I thought this was only for people with children / other dependents under 18 in their home.

But that's good that I should be getting more back from taxes.

[addam]

thehurricane2 said:

Well, most people should apply it to their debt. In reality, people will buy new DVD players and tvs with it instead.

i'm going to buy 60 $10 hookers.

[T R W]

addamblaze said:

thehurricane2 said:

Well, most people should apply it to their debt. In reality, people will buy new DVD players and tvs with it instead.

i'm going to buy 60 $10 hookers.

I prefer 6 $100 hookers. You get what you pay for my friend.

[hammerzeit]

kliquid said:

I thought this was only for people with children / other dependents under 18 in their home.

But that's good that I should be getting more back from taxes.

It is, only couples with dependents or those in a high tax bracket qualify, no one here is going to be getting any free money.

[addam]

thehurricane2 said:

addamblaze said:

i'm going to buy 60 $10 hookers.

I prefer 6 $100 hookers. You get what you pay for my friend.

i already have herpes, i'm not paying extra for it.

[amxfiles]

hammerzeit said:

kliquid said:

I thought this was only for people with children / other dependents under 18 in their home.

But that's good that I should be getting more back from taxes.

It is, only couples with dependents or those in a high tax bracket qualify, no one here is going to be getting any free money.

Tax rebate checks will be sent only to persons with Social Security numbers who paid federal income tax in 2007. In general, if you earned income in 2007 and pay taxes on it, you will qualify for a rebate check.


As the bill stands now, individual taxpayers would get a checks for up to $600. Married couples would get up to $1,200, plus $300 per dependent child. All of the rebate amounts would gradually be reduced for individuals with adjusted gross incomes over $75,000 and couples reporting over $150,000 in adjusted gross income.