Posted by dannisayz
Congrats to everyone who gets one. I don't qualify. I don't know why I don't (I'm a teacher and I make no $), but the Führer, I mean president thinks I deserve nada.
Thats weird.. these samples of how much people can expect in connection to their income.
Single without Qualifying Children
In most cases, payments will range from $300 to $600 for individuals and $600 to $1200 for joint filers. Taxpayers may receive $300 for each qualifying child. Payments could be less, depending on tax liabilty and Adjusted Gross Income. Phaseout reduction begins at $75,000 for single filers and $150,000 for joint filers.
Examples of how the Economic Stimulus Act of 2008 may affect taxpayers who are single and either childless or do not have children who qualify for the child tax credit:
1) Individual with wages of $4,000, no federal income tax liability.
Individual rebate is $300
2) Individual with no wages, veterans’ payments of $2,000, social security benefits of $2,000, no federal income tax liability.
Individual rebate is $300
3) Individual with no wages, no social security benefits, veterans’ payments of $4,000, no federal income tax liability.
Individual rebate is $300
4) Individual with no wages, no social security benefits, no veterans’ benefits, AGI is $10,000, federal income tax liability is $125.
Individual rebate is $300
5) Individual with AGI is $12,000, federal income tax liability is $325.
Individual rebate is $325
6) Individual with AGI is $35,000, federal income tax liability in excess of $600.
Individual rebate is $600
7) Individual with AGI is $80,000, federal income tax liability in excess of $600.
Individual rebate is $600
Phase out reduction is ($250)
TOTAL is $350
