Money from the government?

[N3p]

Has anyone heard the thing about we're suppose to get money from the government in May? It's like either $300 or $600 to each person or something like that. Can someone tell me what that is and like who gets how much money? Sorry I'm not being very specific I just don't know what to call it or anything about it really lol I just heard people at my work and my parents talking about it like last month.

[Toasty]

it's the economic stimulus package...

if you're being claimed as a dependant, you dont qualify.

but most people will qualify for 600 per individual/1200 couple, additional 300 per child or something like that.

[archemedes]

Economic Stimulus Payments Information Center
start here
a few tax people are saying it will count against your taxes in a later year, but I am not sure

[SyntheticShield]

I believe it was up to $70k/yr for individuals and like $100k/yr for couples was the income limits and it was $600 per person plus $300 per child. But you have to have done your taxes for 2007 before then in order to get the rebate. No tax filing, no rebate.

[IndeedSS]

and yes you have to pay taxes on the money received, just like last time.

[N3p]

Ok thanks I have another question, would I qualify?

To receive a payment, taxpayers must have a valid Social Security number, $3,000 of income and file a 2007 federal tax return.

I met those requirements but Toasty said if you're claimed as a dependent (I'm not exactly sure what that means, new to the whole tax thing) then you won't qualify but it doesn't say that on that site. Idk if I am but I'm 17 and I think I am. Sorry if this is a dumb question but we all know how expensive it is to mod cars and there's lots of stuff out there I want to buy .

[Toasty]

Ok thanks I have another question, would I qualify? I met those requirements but Toasty said if you're claimed as a dependent (I'm not exactly sure what that means, new to the whole tax thing) then you won't qualify but it doesn't say that on that site. Idk if I am but I'm 17 and I think I am. Sorry if this is a dumb question but we all know how expensive it is to mod cars and there's lots of stuff out there I want to buy .

you live at home still, i assume.

your parents can claim you as "dependent" and get a tax break. so you wont get your own rebate. now, perhaps you can bargain with them for what they get because they marked you as a dependant.......

[N3p]

Oh damn that sucks. Looks like I'll have to try to get what I can out of my mom for the money she'll get for me haha.

[Kel04GTP]

I found this yesterday. It tells when they will be mailing the checks, etc. Apparently it is done by Social Security numbers...

When you'll get your rebate check - Mar. 17, 2008

[IndeedSS]

Thanks Kel. Good information.

[Sabrewings]

So if you used direct deposit for your tax refund, your rebate should be deposited in the same way?

[Kel04GTP]

yep! Atleast thats the way I understand it!