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Discussion: General Forums / General Discussion - Economic stimulas package credit - My dad was talking about the new credit we are supposed to be getting back.
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02-06-2008, 11:11 PM #1
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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.
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02-06-2008, 11:16 PM #2
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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.
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02-07-2008, 01:09 AM #3
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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.
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02-07-2008, 09:39 AM #4
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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 yearspowered by Windows 7
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02-07-2008, 12:49 PM #5
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Re: Economic stimulas package credit
You jumped a bracket. I remember wondering the same thing as I earned more. Ironic.
Sometimes I rip, other times I RIP.
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