President George W. Bush has pledged to sign the rebate bill next week. Most households will get another $300 for each child. Here are some questions and answers about the checks.
Who gets a rebate?
Anyone who pays taxes or earns at least $3,000, including those who receive Social Security or veterans disability benefits. Higher earners get partial rebates.
Who won't get a rebate ?
People who earn less than $3,000, illegal immigrants, anyone who does not file a tax return, singles earning more than $87,000 and couples earning more than $174,000.The caps rise $6,000 per child.
How much is the rebate ?
Single taxpayers get at least $300, couples at least $600. The rebate will be equal to the taxes they paid, up to $600 for singles and $1,200 for couples,plus an additional $300 per child.That amount will be reduced by $50 for every $1,000 above the income limits of $75,000 for singles and $150,000 for couples. People who earn too little to pay taxes but earn or receive benefits of at least $3,000 will get $300 if single or $600 if a couple. ---------When will the rebates arrive?------Beginning in May
Will the rebates be deducted from taxpayer' regular tax returns ?-----No, the rebates are on top of any tax refund. ----From the Associated Press nydailynews 2-9-2008
No comments:
Post a Comment