The Saving Advice Forums - A classic personal finance community.

Last year's stimulus check

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Last year's stimulus check

    For the 2007 tax year, DH and I were not married. We got the stimulus checks early last year. I got the whole $600 and DH only got $300 because he didn't earn enough to get the entire $600.

    Now, for the 2008 tax year, we are married. Is there any way to get the other $300 this year? I thought I understood that the payment was really a refund for the 2008 tax year?

  • #2
    I think it was an additional refund for 2007. My daughter and her husband did not get the full amount possible because they also did not pay in enough, they got everything they paid in for 2007.

    Comment


    • #3
      The Stimulus checks that were mailed this summer are for the 08 tax year, but they were based on the 07 tax year for determining the amounts given out.

      That was why there was such a push for everyone who normally don't have to file taxes, to file their taxes last year, because if they didn't file them, they wouldn't have gotten the stimulus check.

      So when you file your '08 taxes you should be able to get the rest of the money you actually deserve.

      And if, you circumstances have changed and you actually shouldn't have gotten all the money you did (i.e. your income in 08 was below the amount for the full $600, but your '07 income qualified you for the full $600) you will not have to pay the money back.

      Comment


      • #4

        IRS: Recovery Rebate Credit


        Comment


        • #5
          Originally posted by cptacek View Post
          For the 2007 tax year, DH and I were not married. We got the stimulus checks early last year. I got the whole $600 and DH only got $300 because he didn't earn enough to get the entire $600.

          Now, for the 2008 tax year, we are married. Is there any way to get the other $300 this year? I thought I understood that the payment was really a refund for the 2008 tax year?
          What was the income line that determined if you got only $300 vs. $600?

          Comment


          • #6
            You had to have at least $3,000 in income before you qualified. Then it went up from there based on your tax liability, if you only owed $450, that is what you got back, not the full $600.

            Kids that turned 17 didn't qualify unless they were filing their own taxes as if they were on their own. That means all those college kids that parents are helping through school saw no $300 for that child.

            Yes, when you do your taxes, if you are due more IRS will add it. H & R Block is also trying to figure the credit, but with a lot of people not remembering how much they got, it is a hit and miss situation on that.

            And if it was kept for a debt owed, it is the same as if you got it and paid that debt on your own. Hard to get that across to some people.

            Comment


            • #7
              Originally posted by wnlbutterfly View Post
              H & R Block is also trying to figure the credit, but with a lot of people not remembering how much they got, it is a hit and miss situation on that.
              You can enter your social sec #, filing status, and # of exemptions at irs.gov and it will tell you how much you received.

              Comment


              • #8
                For reasons I won't go into, our (wife and I) AGI for 2007 was temporarily very high, and we didn't receive a stimulus check.

                Our income for 2008 came back down to normal, and I had the very pleasant surprise of having the full stimulus amount added to our tax return! I wasn't aware of the details of how the plan worked, so I thought we had just missed out on it.
                seek knowledge, not answers
                personal finance

                Comment


                • #9
                  Originally posted by moneybags View Post
                  You can enter your social sec #, filing status, and # of exemptions at irs.gov and it will tell you how much you received.
                  Yes, we do that, but I work mostly on Saturdays and the IRS website isn't always up. I had a full day like that, and sure enough, a few of them were wrong on their guesses.

                  The other downside of us (Block) asking for the amount of last year's check is it gives the impression that it is taxable. I explain that it isn't but not every preparer thinks to do that.

                  Comment

                  Working...
                  X