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    lpenek's Avatar
    lpenek Posts: 28, Reputation: 1
    New Member
    		  
    #1

    Jul 5, 2008, 11:21 AM
    No tax stimulus check for low income?
    My son earned approximately $2500 from his own business and $2500 from rental income with a total income of less than $6000. IRS said he is not eligible for any tax stimulus check. Can you explain why? A low income person would certainly spend it as they indicate they want to stimulate the economy. Thanks, Lynne Penek-Holden
    achampio21's Avatar
    achampio21 Posts: 220, Reputation: 15
    Full Member
    		  
    #2

    Jul 5, 2008, 11:26 AM
    My guess is that the government thinks that your son didn't work enough (ie pay enough in taxes to the gov) for the gov to give him any money.

    More simple version : He didn't give the IRS enough of his own money for them to even consider thinking about giving any money to him.

    Is that right? Porbably not. But it's the government. They make the rules.

    You can check here on the gov own website Internal Revenue Service

    I am giving you a direct link to the online stimulus payment calculator just fill it out and it will tell you if he shouldv'e qualified.

    Economic Stimulus Payment Calculator - Welcome to the Economic Stimulus Payment Calculator
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
    Ultra Member
    		  
    #3

    Jul 5, 2008, 11:56 AM
    Just how much did your son PAY in taxes?

    If the answer is zero, the he should not get any stimulus check.

    My wife made about the same amount of income has he did, she paid about $450 in federal tax, and she got back the exact amount that she had paid in.

    This so called stimulus check is nothing more that giving you some of your money back, not in any way a gift from the government.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #4

    Jul 5, 2008, 08:08 PM
    To be eligible, you son must have $3000 of eligible income. Rent, capital gains, interest are not included.
    Also dependents will not get rebate.
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