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Posted by MICHELLE H. on January 25, 2008, 10:01 am
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Hello Everybody,
I am hoping that somebody can answer my question for me about this tax
rebate that they were talking about all day on Thursday.
I see they are saying that an individual taxpayer would receive a refund
up to $600 dollars, working couples a refund of up to $1,200 dollars,
and an additional refund of $300 dollars for each child. And that
workers who made at least $3,000, but don't pay taxes get a $300 dollar
rebate.
So does this mean that people who pay taxes to the IRS, as well as
house/property taxes and stuff???
My husband and I are "renters", so we pay no house/property taxes and
pay no taxes to the IRS, only whats taken out of our paychecks.
So does this mean that we won't be getting a $1,200 rebate, only a $300
dollar rebate?? Will we still get the $300 per child rebate for each of
our 3 children, or we won't be included in that either because we pay no
taxes because we rent??
The way they were making it out on the news last night was that EVERY
couple who made at least $3,000 last year was getting $1,200 dollars,
plus $300 dollars per child. But now this morning in my morning paper it
says that this is only for people who pay taxes to the government.
So here we are, all of last night, thinking that we are going to be
getting a $2,100 dollar check in the mail, and now it looks like we are
only going to get $300?????
So I take it, that if you are a "renter" who rents an apartment or a
house, that you are only going to get $300?? But do you still get the
$300 per child???
Any info. on this would greatly be appreciated!!!
Thanks!
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Posted by Jonathan Kamens on January 25, 2008, 10:08 am
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FALCONGIRL@webtv.net (MICHELLE H.) writes:
>My husband and I are "renters", so we pay no house/property taxes and
>pay no taxes to the IRS, only whats taken out of our paychecks.
What's taken out of your paychecks is taxes paid to the IRS.
Do you file a tax return every year? On your tax return, you
calculate how much tax you owe on your income, and then you
subtract what was already withheld from your paychecks during
the year. If what's left is a positive number, then you have
to pay additional tax with your return. If it's a negative
number, then that means that too much was withheld and you
get a refund. If it's zero, that means that exactly the
right amount was withheld and there's no refund or payment.
This doesn't happen very often, if for no other reason than
because Congress seems to delight in changing the tax laws
every year so it's impossible for one's withholding to be
completely accurate.
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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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