additional tax rebate?
i was told that some pple are to recieve an additional refund in the summer of this year is this true? if yes who qualifies?
- Richard MLv 71 decade agoFavorite Answer
The rebate plan is currently in the Senate.
Under the terms of House bill, individual taxpayers would get up to $600 in rebates, working couples $1,200 and those with children an additional $300 per child under the agreement. Families who make at least $3,000 but don't pay taxes would get $300 rebates.
The amount of the proposed rebate depends on how much taxes you paid on your 2007 return. If you are single, you would be eligible to receive a rebate of up to $600 if you paid that much in Federal Income Tax. If you only paid $350 in taxes (less than the $600 rebate limit), you only get back $350.
If you had over $3000 in income, you would qualify for the $300 minimum.
Click on the referenced site below for more info.
Nothing has passed Congress yet, so everything is subject to change.Source(s): http://www.msnbc.msn.com/id/22847238/
- Anonymous1 decade ago
Yes, though it hasn't been 100% approved yet. It will be $600 for singles, $1200 for married, w/an additional amount for those with kids.
the income limit is around $85K I believe (or 110K for couples). EVERYONE who filed taxes and made under that amount qualifies.
Checks will go out between may and july, if it goes through.