Anonymous asked in Business & FinanceTaxesUnited States · 1 decade ago

tax cut fot 2007 fiscal year?

I'm about to fill my taxes, and I heart that there is a Tax cut that just being signed by the president.

How can I find out if I qualify to it?

do you have any information about it?

do you know where can I find information about it?

10 points best anwer

3 Answers

  • 1 decade ago
    Favorite Answer

    It is a "tax rebate". The tax rebate is based on your 2007 earnings and taxable income. If you qualify, you need do nothing besides file your 2007 Federal Income Tax return.

    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 earned income or social security of at least $3000, you would get at least the minimum rebate of $300. Similarly, couples filing jointly can receive up to $1200. If you qualify for a rebate, you will receive $300 for each dependent child under 17.

    Use the Kiplinger rebate tax calculator (link below) to compute your rebate.

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  • 3 years ago

    Why might spending cuts impression government workers? n coping with the financial cliff, U.S. lawmakers have a call: a million. they might enable the present coverage scheduled for the initiating of 2013 – which constructive properties various tax will improve and spending cuts that are expected to weigh heavily on improve and in all likelihoodcontinual the economic equipment lower back right into a recession – flow into result. The plus side: the deficit as a share of GDP could be decrease in a million/2. 2. they might cancel some or all the scheduled tax will improve and spending cuts, which might upload to the deficit and improve the percentages that the USA might desire to stand a disaster such as that which suits on in Europe. The turn fringe of this, of course, is that the USA' debt will proceed to enhance.

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  • 1 decade ago

    If it's just being signed, it won't apply to your 2007 earnings.

    You should do your taxes online, like at H&R Block or something. Those programs will tell you everything you're qualified for.

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