Friday, November 6, 2009

In the website for the rebate, it depends on what your total tax liability is before the child tax credit.?

What does that mean?

In the website for the rebate, it depends on what your total tax liability is before the child tax credit.?
How much tax did you pay if you didn't get a child tax credit, or if you did get the credit, how much was your total tax before the credit was subtracted.





You only get over $300 per person if your tax liability is over that.
Reply:I means that most taxpayers get $300, not $600 for themselves. To get more than $300, you actually have to have PAID more than $300 in taxes.
Reply:I haven't looked at the website recently but... there are certain qualifications you have to meet before being able to get the IRS stimulus payment. One is income... you need to have "earned income" of at least $3000 or you need to have received at least $3,000 in social security benefits. (not SSI insurance payments).





With the income, you qualify for $600 ($1200) if married filing joint.


You also qualify to receive an additional $300 per child that qualifies you to receive the child tax credit. The child has to be under age 17 at the end of 2007, can be claimed as a dependent by you, lived with you for at least half of 2007 ,(unless away at school, that counts as living with you)





I hope that this helps
Reply:If you filed with Form 1040, is is line 57 + line 52 on your return.





If you used form 1040A, it is line 35 + line 32.


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