You May Know This About The Stimulus Payment BUT I thought we all were going to get $600 each!

[1776Forever]

The letter that came in the mail today from the IRS was one I was sure was just going to say my husband and I were going to get $600 each in our checking account - WRONG! It said we as a couple were getting $600 and that was $300 each. So I got on the phone and made a call to the IRS number it gave for questions. A very nice man answered after 15 minutes of being on hold and said he must have been asked about this over a hundred times today and all the people there who were answering phones had been asked mostly the same question.

OK - As I said some of you knew this so please just ignore if you did:

http://www.irs.gov/irs/article/0,,id=177937,00.html

If you did NOT pay any income tax (you received a rebate) for 2007 you will receive $300 and if you did pay IRS taxes for 2007 you get FROM $300 to $600!

Note: We don't have any minor children so I am not sure about them.

I thanked him and said I wish his Manager would call CNN/ABC/CBS etc. and tell them to say that on TV as I and others in my family had thought that everyone was going to get $600!

The man said this just didn't make sense to him because he knew the people who really needed it were getting the lesser amount. Hope this will help some out who thought they are going to get $600 when they will only get $300.

This kind of made me think of what HRC and McCain were trying to say about the gas tax Holiday! It is just a gimmick in some way - I am glad for the $600 but was hoping for $1,200 to help pay our home insurance and house taxes as I have been unable to find a job for over a year here in Florida.

Blessings! We could all use some:)

:hi:

[DJ13]

1. Yep, my wife and I are only getting $600 total as well

Im on permanent disability, my wife works, so we qualify for the $600.

I tried it five ways to Sunday with the IRS stimulus calculator, including my non-taxed disability income (as the IRS suggests that entitles a disabled people to get $300) and it came up the same no matter what.

Oh well......

[1776Forever]

4. Best to you! We know how you feel - hugs!!!!

:pals:

[DesertFlower]

2. sorry you're not getting more.

i think it's "up to" that throws people off.

we're not getting anything because we made too much money. i'm not complaining. i rather see it go to people who really need it, which seems to be quite a few people.

[1776Forever]

3. Thanks - Somehow we will be OK - Just hope I can get a job!

:hi:

[chknltl]

5. So how are the homeless getting checks?

Or don't they count??? (Even if they vote?)

[Yael]

7. No -- youhave to have owed. It just depends on the reason

that you have a refund coming. Mine was straight line (overpaid in withholding as opposed to tax credits/deductions) so this doesn't apply to those like me who are in that position.

[chknltl]

9. So the homeless are not getting anything...

...how stimulating. What if the homeless offered to buy cake with it??? (do I really need the sarcasm thingy???)

[Yael]

12. No, they are not being 'stimulated'.

Only those who paid into the system -- and there is no ceiling. Everyone who paid in qualifies.

:eyes:

[BigDaddy44]

19. Oh there's a ceiling

Make over about $150K and no check for you!

[ikojo]

22. If I made over $150k I don't think I'd need $300

from the government...don't people in that income bracket already benefit from write offs and such?

[Yael]

23. I hadn't heard that -- THANK YOU for that correction. I feel better knowing that.

[Pastiche423]

18. "No -- youhave to have owed"

is incorrect. I haven't owed taxes in over 15 years. I e-filed mine for 2007, owing zippo and got a direct deposited check on Friday.

[Yael]

24. So, what are you doing next March

and can I hire you?

:evilgrin:

[Pastiche423]

25. WTF does that mean?

[Yael]

26. It means that I want you doing my taxes if you are available.

Nothing nefarious.

LOL!

[Pastiche423]

27. No, I'm not available

LOL!

[WillowTree]

28. Wrong.

You don't "have to have owed" (as in when you filed your 2007 return), you have to have paid taxes for 2007, whether you paid in the course of the year through employer withholding or made quarterly payments or paid with your return. Big difference.

[Yael]

6. This is not for all cases.

I overpaid in withholding in 2007, and got a rebate. I got burned one year, so don't claim any exemptions any longer so I always get back because I paid in too much. Not because of tax credits or deductions (I rent, so I don't itemize) and I am getting $600.

It depends on the reason for your refund.

[1776Forever]

11. I am sure there will be many "special" cases - I just thought it was one amount for all

:shrug:

[Yael]

13. I am not sure what the exact figures are or how they are calculated

I just know that I am getting the full $600 even though I received a refund. Not knowing the circumstances of OP's filing, I thought I would share my example. My refund this year was about $500 -- all overpayment as my taxes are very simple (I file a straight 1040 with a K-1 as we are an employee-owned company).

[Tunkamerica]

8. Hmm, they have a calculator on IRS.gov

and that said I'd get $600. Did you use that? If so, what did it say?

[1776Forever]

10. I received the letter today but received $600 for both my husband and I on Friday.

Hope you do get $600!

[Subdivisions]

14. We only got $600 too. Were thinking we'd get $1200.

I don't remember this stimulous package being sold to us like it's turning out. Whaddya wanna bet the entire package is way less than the $150 Billion we were sold? Remember at first the amount was announced to be $100 Billion?

[jsamuel]

16. It is a rebate for 600, if you didn't pay 600 in taxes in 2007, you won't get 600 back

the least you will get (if you make over 3000) is 300. So a married couple making over 3000 a year will get at least 600. If you paid between 1200 and 600 in taxes in 2007, you will get that amount back in the rebate. So if you paid 989 dollars to the IRS in 2007, you will get 989 back. If you paid 3000 dollars to the IRS in 2007, you will get 1200 back.

If you make too much, your amount will be reduced, but you have to make over 75k (single) or 150k (married) for that.

Also note that this applies to your 2008 taxes. So if you owe 3000 in 2008, you will have to claim the 1200 or whatever as a rebate and will only be able to deduct down to 1200 dollars.

[HiFructosePronSyrup]

15. Our tax preparer said we'd get the full $1200.

She ain't know dummy. So if we only get $600, boy they really mislead people.

[1776Forever]

17. If you paid a tax payment you will get more then if you got a rebate....

Rebate equates to $300 for each. That is the way I understand it - and if you paid in it will vary. Go figure!

[RockaFowler]

20. I just used the calculator and I'm getting $1200

I don't understand how they calculate it, though.

[OffWithTheirHeads]

21. First mistake, you believed Bush

When are you finally gonna get it? Everything out of his mouth is a lie!

[goclark]

29. I live with my Mom, I was shocked when she received &600

I'm still waiting for my rebate.

I had to pay $450.

[HughMoran]

30. I'm getting a rock

:(

$0

[Blue Belle]

31. Well at least you got a check...

I paid my taxes in January, did it online and got direct deposit, and I still haven't got my check. I have $6.27 in the bank until it comes and I ran out of coffee - so I desperately need it.

[1776Forever]

32. This will tell you when to expect it by your SS last 2 digits..........

http://www.freep.com/apps/pbcs.dll/article?AID=/20080317/COL07/80317039/

If you file your return on time and request that your federal income tax refund is directly deposited, the stimulus payments will directly go into your bank account by May 2 if the last two digits of your Social Security number are 00-20.

If the last two digits are 21-75, the date to remember is May 9.

If the last two digits are 76-99, you’d get that money by May 16.

But if you do not use direct deposit to get your federal income tax refund – or you are paying taxes owed when you file that 2007 return – you’re going to get your tax rebate check later. The rollout times are more complicated, too.

If your last two digits of your Social Security number are 00-09, you could expect that rebate check to be mailed by May 16.

It’s by May 23 if the last two digits are 10-18.

It’s May 30 if the digits are 19-25.

It’s June 6 if the digits are 26-38.

It’s June 13 if the digits are 39-51.

It’s June 20 if the digits are 52-63.

It’s June 27 if the digits are 64-75.

It’s July 4 if the digits are 76-87.

It’s by July 11 if the digits are 88 -99 and the person did not use direct deposit of a refund this year – or if you wrote a check to cover money owed for the 2007 tax year.

[Blue Belle]

33. Thans for this information.

It's great that you posted it. Looks like I should be paid on the 9th if all goes well.

[RebelOne]

34. I paid $293 in income taxes this year through TurboTax

and I am certain TurboTax told me that I would be receiving $600.

[jasmine621]

35. Funny, I don't remeber Obama calling this is gimmick and the amount of

money is little more than $30 a month and the revnues WON'T be put back into the treasury. I guess it's all a matter of what Obama is for and what he is against that counts the most. Had he proposed the gasoline tax holiday, it would have been the greatest thing yet.

[1776Forever]

36. The only thing I said about this was the "way" it has been handled was gimmicky!

I was glad to get the $300 but thought it was handled poorly! I was not the only person who thought everyone was going to get $600 each.

AND by the way, I wouldn't have encouraged the ridiculous gas "holiday" no matter who put it out!