Check out some similar questions!

Piggley Winks · May 10, 2008, 08:44 AM

Hi,

I am from Texas. Tax filed with my 1040

With my education tuition deduction, I paid 0 tax and got all tax withholding back.

Yesterday, an amount of $300 was deposited into my a/c from the IRS. Is it the tax rebate? Am I eligible for it even though I do not need to pay tax? Is the amount correct, or I deserve more?

Thanks!

-Piggley

Fr_Chuck · May 10, 2008, 08:48 AM

OK, did you not pay tax all year from your pay check, this is such a silly ID that people have that they don't pay tax if they don't write a check at the end of the year. You pay tax every week in your pay check, at the end of the year, you either get some back, get nothing back or have to pay more money.

progunr · May 10, 2008, 08:58 AM

The stimulus check is based on several factors, one being your taxable income.

If you are below a certain level, the $300 amount is correct.

I think Fr_Chuck mis read your question and didn't notice that you said you had taxes withheld, but received all or maybe more than your withholding in the form of a refund.

I'll see if I can find the income cap for the $300 and get back or perhaps someone else already knows what it is?

Piggley Winks · May 10, 2008, 09:58 AM

Yes, progunr. You're right. You caught my point.

Thank you very much, both!

-Piggley

MukatA · May 10, 2008, 10:31 AM

Originally Posted by Piggley Winks

Hi,
I am from Texas. Tax filed with my 1040

With my education tuition deduction, I paid 0 tax and got all tax withholding back.

Yesterday, an amount of $300 was deposited into my a/c from the IRS. Is it the tax rebate? Am I eligible for it even though I do not need to pay tax? Is the amount correct, or I deserve more?

Thanks!

-Piggley

The rebate payment will equal the amount of tax liability on the return (tax liability on the return Form 1040 line 46 or Form 1040A line 28) with a minimum amount of $300 and a maximum amount of $600 for individuals.

If you do not receive full amount of $600 now, then you may get the balance amount when you file your 2008 return, and you become eligible for the tax rebate.

For information on stimulus tax rebate schedule, the eligibility and how much rebate you will get read: Your U.S. Tax Return: Are You Eligible for 2008 Stimulus Tax Rebate Payment?