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-   -   Stimulus Clarification (https://www.askmehelpdesk.com/showthread.php?t=183892)

  • Feb 14, 2008, 12:33 AM
    digitalbliss
    Stimulus Clarification
    I just need some clarification as to the stimulus plan, so here are my details -

    I was laid off last year(2007).
    My wife and I filed jointly for 2007.
    My Gross Adjusted Income was about $9000.
    $3000 was Earned Income(Jobs), while the rest was Unemployment.
    Totally, we paid $651 in federal taxes.
    We have one child that was claimed as a dependent on our 2007 return(Age 2).

    Where I need clarification -
    I'm unsure as to whether it is a flat rate or if we'll only be eligible to get what we paid in(In this case, $651).
    I'm also somewhat curious if our federal pay-in will be separated due to the Unemployment or, as I've heard, they're going solely by the Gross Adjusted Income number.

    I know we'll be given the extra $300 for the child able to be claimed in 2007, but my wife is pregnant and the child will be able to be claimed for 2008. Will that child be counted in as well, or will that be taken care of during the actual filing of the 2008 taxes(at the beginning of 2009)?
  • Feb 14, 2008, 08:44 AM
    MukatA
    This is from the IRS web site:
    "Most taxpayers just need to file a 2007 tax return as usual. No other action, extra form or call is necessary. This Web site will be the best information source for all updates and taxpayer questions.

    In most cases, the payment will equal the amount of tax liability on the tax return, with a maximum amount of $600 for individuals ($1,200 for taxpayers who file a joint return)."
    So you will get $651 plus $300 for child.

    Child must be born on or before Dec 31, 2007 to be dependent on 2007 tax return.

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