that tax money from bush thing

[04_edge 10+ year member]

to "help" the economy. when is it supposed to start coming in?

i dont feel like searching for the thread that it was talked about in....im asking because my income tax is finally in my bank, so im a tad bit closer to buying a motorcycle //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

Click to read more...

 

[DBfan187 5,000+ posts]

ask flip, like June or close to it.

 

[Flipx99 5,000+ posts]

to "help" the economy. when is it supposed to start coming in?i dont feel like searching for the thread that it was talked about in....im asking because my income tax is finally in my bank, so im a tad bit closer to buying a motorcycle //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

I just posted the "official" rebate schedule in the crunk times thread.

Checks begin shipping out in late May.

This in independant of your tax filings currently due.

Whether it will help or not depends on your economic persuasion. I do not believe it will help, however, I can explain some theory that says it might.

 

[Pootie 10+ year member]

Doesn't make sense in my opinion we are what trillions of dollars in debt and the government is giving us more money that we will eventually have to pay back. Bush did the same thing a couple years ago. Now who ever gets elected after him is going to raise taxes to pay for this.

 

[SPL140.2 5,000+ posts]

A little off topic but how many people are in the US?

egg

 

[Flipx99 5,000+ posts]

A little off topic but how many people are in the US?
egg

roughly 300 million...but keep in mind, not all 300 million get a rebate. Infants, for example, do not get a rebate.

 

[regal8r 5,000+ posts]

who exactly will be getting the money? anyone who pays taxes?

 

[Flipx99 5,000+ posts]

God dmanit....I told you where all the info is....I guess I need to repost

 

[mokedaddy 5,000+ posts]

Flipx post explained much better.

 

[Flipx99 5,000+ posts]

EXAMPLES OF HOW THE ECONOMIC GROWTH PACKAGE WILL BENEFIT AMERICANS

Married with children:

1) Married couple with two children1, earned income of $4,000, no federal income tax paid.

•

Individual rebate = $600

•

Child tax credit = $600

TOTAL = $1,200

2) Married couple with two children, earned income in excess of $3,000, AGI = $45,000, federal income tax is $323.

•

Individual rebate = $600

•

Child tax credit = $600

TOTAL = $1,200

3) Married couple with two children, AGI = $48,000, federal income tax is $773.

•

Individual rebate = $773

•

Child tax credit = $600

TOTAL = $1,373

4) Married couple with two children, AGI = $80,000, federal income tax paid in excess of $1,200.

•

Individual rebate = $1,200

•

Child tax credit = $600

TOTAL = $1,800

5) Married couple with two children, AGI = $160,000, federal income tax paid in excess of $1,200.

•

Individual rebate = $1,200

•

Child tax credit = $600

•

Phaseout reduction = ($500) [5% x ($160,000 - $150,000) = $500]

TOTAL = $1,300

Head of household with children:

1) Single parent with two children, earned income of $4,000, no federal income tax paid.

•

Individual rebate = $300

•

Child tax credit = $600

TOTAL = $900

2) Single parent with two children, earned income in excess of $3,000, AGI = $38,000, federal income tax is $433.

•

Individual rebate = $433

•

Child tax credit = $600

TOTAL =$1,050

3) Single parent with two children, AGI = $60,000, federal income tax paid in excess of $600.

•

Individual rebate = $600

•

Child credit = $600

TOTAL =$1,200

4) Single parent with two children, AGI = $90,000, federal income tax paid in excess of $600.

•

Individual rebate = $600

•

Child credit = $600

•

Phaseout reduction = ($750) [5% x ($90,000 - $75,000)]

TOTAL = $450

Married, no children:

1) Married couple with no children, earned income of $4,000, no federal income tax paid.

• Individual rebate = $600

2) Married couple with no children, earned income in excess of $3,000, AGI = $20,000, federal income tax is $930.

• Individual rebate = $930

3) Married couple with no children, AGI = $25,000, federal income tax is $1,430.

• Individual rebate = $1,200

4) Married couple with no children, AGI = $160,000, federal income tax paid in excess of $1,200.

•

Individual rebate = $1,200

•

Phaseout reduction = ($500) [5% x ($160,000 - $150,000)]

TOTAL = $700

Single, no children:

1) Individual with earned income of $4,000, no federal income tax paid.

•

Individual rebate = $300

2) Individual with earned income in excess of $3,000, AGI = $10,000, federal income tax is $125.

•

Individual rebate = $300

3) Individual with AGI = $16,000, federal income tax is $725.

•

Individual rebate = $600

4) Individual with AGI = $80,000, federal income tax paid in excess of $600.

•

Individual rebate = $600

•

Phaseout reduction = ($250) [5% x ($80,000 - $75,000)]

TOTAL = $350

 

[Flipx99 5,000+ posts]

Many people cannot handle that thread. It makes their heads explode.

I think half the forum will be surprised the amount of information in that thread.

 

[grizzjwill 10+ year member]

So what if your single with no children BUT you claimed a dependant on your taxes?

 

[Flipx99 5,000+ posts]

So what if your single with no children BUT you claimed a dependant on your taxes?

Are you saying your parents claimed you?

or that you claimed someone else's child?