Economic stimulas package credit

Trooper · 02-06-2008, 10:11 PM

My dad was talking about the new credit we are supposed to be getting back. Does anyone know any details about it. What are the cut off incomes?

He said something about there being brackets and only getting so much back per income level.

**DigitalAssassin** · 02-06-2008, 10:16 PM

I don't think it starts phasing out much until ~$150,000 if you are married. In it's latest iteration, at least to my knowledge, it was $600/individual or $1,200/married couple with an additional $300 per child. So, in my case, married with three kids, it would be ~$2,100.

Of course, I was just reading on CNN that it is stalled in the Senate although it flew through the House.

**=DdogG=** · 02-07-2008, 12:09 AM

yeah, 75,000/yr is the cutoff for individuals, but from what I have read, the less you pay in taxes, the more you get... (less than 40k/yr for married couples gets the whole thing, then tiered down as income goes up. also, if things go smoothly, expect it in July.

**Tonk** · 02-07-2008, 08:39 AM

you know what i dont get? (sry for being slightly off topic) i just did my taxes yesteerday, and i made roughly $15,000 more gross than i did last year, but my tax refund is going to be $1,000 less when combining state and federal... i dont get it! did i enter a new tax bracket?

edit: same marriage status, same amount of kids, same residence, i didnt buy a house last year, or pay for schooling, any right-offs were nearly identical both years

**StevieRay** · 02-07-2008, 11:49 AM

You jumped a bracket. I remember wondering the same thing as I earned more. Ironic.

02-06-2008, 10:11 PM	#1 (permalink)
Trooper Join Date: Jun 2005 Location: In my wifes house......if she says i can Age: 25 Posts: 8,637	Economic stimulas package credit My dad was talking about the new credit we are supposed to be getting back. Does anyone know any details about it. What are the cut off incomes? He said something about there being brackets and only getting so much back per income level.

02-06-2008, 10:16 PM	#2 (permalink)
DigitalAssassin Join Date: Jun 2005 Location: Kansas City Age: 35 Posts: 1,586	Re: Economic stimulas package credit I don't think it starts phasing out much until ~$150,000 if you are married. In it's latest iteration, at least to my knowledge, it was $600/individual or $1,200/married couple with an additional $300 per child. So, in my case, married with three kids, it would be ~$2,100. Of course, I was just reading on CNN that it is stalled in the Senate although it flew through the House. __________________

02-07-2008, 12:09 AM	#3 (permalink)
=DdogG= Join Date: Nov 2003 Location: Ennis, TX Age: 31 Posts: 1,692	Re: Economic stimulas package credit yeah, 75,000/yr is the cutoff for individuals, but from what I have read, the less you pay in taxes, the more you get... (less than 40k/yr for married couples gets the whole thing, then tiered down as income goes up. also, if things go smoothly, expect it in July. __________________ Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. -Albert Einstein The two most common elements in the universe are Hydrogen and stupidity. -Harlan Ellison If all else fails: "rm -rf /"

02-07-2008, 08:39 AM	#4 (permalink)
Tonk Join Date: Nov 2005 Location: Luck, WI USA Age: 22 Posts: 2,898	Re: Economic stimulas package credit you know what i dont get? (sry for being slightly off topic) i just did my taxes yesteerday, and i made roughly $15,000 more gross than i did last year, but my tax refund is going to be $1,000 less when combining state and federal... i dont get it! did i enter a new tax bracket? edit: same marriage status, same amount of kids, same residence, i didnt buy a house last year, or pay for schooling, any right-offs were nearly identical both years __________________ [url="http://www.tsgnet.com/pres.php?id=46832&altf=Upbtuz&altl=\|UH-QDT\|"im running for president[/URL] -Life should not be a journey to the grave with the intention of arriving safely, in an attractive and well preserved body; but rather to skid in sideways, chocolate in one hand, a beer in the other, body totally worn out screaming "YEEEHAW, WHAT A RIDE!!!" - my grandpa -My New Rig: cpu: AMD 6400+ 3.2ghz dual core mobo: Asus Crosshair ram: 8gb (4x2gb) geil exotera 4-4-4-12 video card MSI 8800GTS 512mb (g92) Vista:x64 Laptop: Dell i9300 2.16ghz-2gb ram-6800-17" 1920x1200 -Toasty/Tonk/Chair http://tgtonk.notlong.com

02-07-2008, 11:49 AM	#5 (permalink)
StevieRay Join Date: Jun 2007 Location: CT, USA Posts: 395	Re: Economic stimulas package credit You jumped a bracket. I remember wondering the same thing as I earned more. Ironic. __________________

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