$600 Less!

[TooBrokeToJoke]

ok, this really ticks me off. we were told by my agent that we'd be getting the full $1500 for me, my husband and my daughter.

we got our stimulus payment today...$900! what the heck. i checked the irs page and it said they could take money for federal loans such as student loans, well we have one, in my husbands name, totaling $7500...why did they only take $600? can they only take his amount?

this really makes me mad because we were using this to pay the lawyer who ironically costs $1500, i hate the government!

if they did pay the loan, there is no reason, we don't owe anything till september, so we're not behind, i really cannot think of any other reason to be missing $600, we qualified for all the money.

[Keebler]

I got a mailing from the IRS a week after my rebate and it explained the amount of the rebate and how it was calculated.

Hopefully you'll get one soon and it'll answer your questions.

[Cali]

The IRS site said up to, not you will get this exact amount. Be happy you got something, many people didn't get that much.

[JRScott]

I only got 585 dollars ....heh only 15 dollars less than I expected but there it is , hopefully we do get explanations

[momof5]

It sounds like you got the $600 minimum for the two of you and $300 for your daughter. You would only get "UP TO" $1200 if you paid that or more.

[Keebler]

It sounds like you got the $600 minimum for the two of you and $300 for your daughter. You would only get "UP TO" $1200 if you paid that or more.

I don't think that's right... my refund was the full amount.

I got the FULL amount for each adult and for all the children and I can tell you this... my original Federal Tax Refund was already several hundred dollars more than they took out of my paycheck all year long. Before the Tax Stimulus Rebate I was already operating at a profit.

[Cali]

I know of several people that didn't get the full amount.

My stimulus was 6 times more than my tax return.

I don't think that's right... my refund was the full amount.

I got the FULL amount for each adult and for all the children and I can tell you this... my original Federal Tax Refund was already several hundred dollars more than they took out of my paycheck all year long. Before the Tax Stimulus Rebate I was already operating at a profit.

[momof5]

my original Federal Tax Refund was already several hundred dollars more than they took out of my paycheck

If your refund was more than the actual taxes you paid out of your paycheck then I can guarantee you that you got the minimum for the stimulus. The stimulus was based on how much taxes you were responsible for. I dont know how much you made or what your final tax was or if you got the earned income credit or child tax credit.
I can give you an example because I originally thought we were getting $1200 because technically throughout the year we paid alot more than that $3500 to be exact... we did our income tax and received a $7000 federal refund. So even though we paid tax we still got it back,plus the additional child tax credit...the way the IRS looks at this is though you paid no taxes. The amounts can very but if you got a refund for more than they took out then you got all that money back.
You then only qualify for the minimum of $600. (married filing joing)

[WhatMoney]

Sounds like your 2007 tax liability was less than $1200, so you only received $600 for a married couple filing jointly, plus $300 for your child.

From IRS site:

Many, but not all, taxpayers qualify for the maximum basic payment of $600 for singles or $1,200 for married couples. Many parents are also receiving an additional $300 for each qualifying child, born after Dec. 31, 1990.

Your payment may be less than the maximum for one or more of the following reasons:

You are single and your net income tax liability is less than $600. If you file Form 1040 net income tax liability is the amount shown on Line 57, plus the amount on Line 52.
You are married and your net income tax liability is less than $1,200.
You are single and your adjusted gross income (AGI) is more than $75,000. On Form 1040, AGI is the amount on Line 37.
You are married filing a joint return and your AGI is more than $150,000.
You owe back taxes.
You have non-tax federal debts such as unpaid student loans or child-support obligations.

[Keebler]

If your refund was more than the actual taxes you paid out of your paycheck then I can guarantee you that you got the minimum for the stimulus. The stimulus was based on how much taxes you were responsible for. I dont know how much you made or what your final tax was or if you got the earned income credit or child tax credit.
I can give you an example because I originally thought we were getting $1200 because technically throughout the year we paid alot more than that $3500 to be exact... we did our income tax and received a $7000 federal refund. So even though we paid tax we still got it back,plus the additional child tax credit...the way the IRS looks at this is though you paid no taxes. The amounts can very but if you got a refund for more than they took out then you got all that money back.
You then only qualify for the minimum of $600. (married filing joing)

CAN'T BE TRUE because the TOTAL Federal Tax withheld from my paycheck was less than $200 (I Didn't claim enough allowances to get it all the way down to zero.) I don't Itemize and don't have any special credits or anything beyond the Child Tax Credit. My Federal Tax Refund was a bit less than $500. (More than they withheld!)

Even with all of that, I got the full $600 Rebate for each adult and $300 for each child in the household.

I CAN say that the tax on my income from the tables on the tax forms was GREATER than the Tax Stimulus Rebate I received. So, it may be true that your rebate needs to be less than your tax liability. But it was the Child Tax Credit that paid my tax bill with more than enough left over to earn me a refund.

For 2007 my total tax refund and rebates are now nearly 5% of my total gross income for the year and my Federal Tax liability has been zero. I'm operating at a profit as far as Federal Income Tax goes! (And with no State Income Tax here I'm doing good on that front as well.)

[TooBrokeToJoke]

I read a little more, and i guess i made under the $1200, but my tax guy should have known that when this was happening. Thanks for the input, I appreaciate it.