Economic Stimulis Act? - FMVperformance.com : The site for all your Ford Mazda and Volvo needs
 
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post #1 of 8 (permalink) Old 04-02-2008, 11:29 AM Thread Starter
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Economic Stimulis Act?

I received a letter from the gov't about some Economic Stimulas Act? My mother thinks I should get money back because I filed as single and having a total income of I think it was less than $10,000, my father thinks I will not because I am still claimed as a dependent on their taxes. Has anyone else received this letter or know any more information about this?

Thanks.
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post #2 of 8 (permalink) Old 04-02-2008, 11:31 AM
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Re: Economic Stimulis Act?

If someone else claimed you you don't get anything. Doesn't matter how you filed I believe. They get like $350 from you
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post #3 of 8 (permalink) Old 04-02-2008, 11:34 AM Thread Starter
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Re: Economic Stimulis Act?

[quote author=TruboPower link=topic=107548.msg2201171#msg2201171 date=1207150310]
If someone else claimed you you don't get anything. Doesn't matter how you filed I believe. They get like $350 from you
[/quote]

damn. . .
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post #4 of 8 (permalink) Old 04-02-2008, 11:35 AM
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Re: Economic Stimulis Act?

If you were claimed as a dependent by someone then you will not get a check (according to the IRS), just like the first time it was done back around 2001.

Your parents, however, will get a larger check because you are a dependent on their taxes.

The check is up to $600 ($1,200 married filing jointly) + $300 for each eligible child under 17. You must have earned at least $3,000 in income. If you had low income then your check is probably going to be smaller then $600.
-Matt
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post #5 of 8 (permalink) Old 04-02-2008, 11:39 AM Thread Starter
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Re: Economic Stimulis Act?

[quote author=azazel1024 link=topic=107548.msg2201184#msg2201184 date=1207150527]
If you were claimed as a dependent by someone then you will not get a check (according to the IRS), just like the first time it was done back around 2001.

Your parents, however, will get a larger check because you are a dependent on their taxes.

The check is up to $600 ($1,200 married filing jointly) + $300 for each eligible child under 17. You must have earned at least $3,000 in income. If you had low income then your check is probably going to be smaller then $600.
-Matt
[/quote]

well, I did have an income of at least $3,000. But that dosen't matter because I'm a dependent?

((sorry I might sound like an idiot about this. . . gov't and economics are not my strong suite))
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post #6 of 8 (permalink) Old 04-02-2008, 11:42 AM
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Re: Economic Stimulis Act?

just tell your parents you want your share!!! lol


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post #7 of 8 (permalink) Old 04-02-2008, 11:54 AM
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Re: Economic Stimulis Act?

[quote author=ZOOM 3 link=topic=107548.msg2201208#msg2201208 date=1207150938]
just tell your parents you want your share!!! lol
[/quote]

and if they threaten to kick you out, just say the next year they wont get any of that
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post #8 of 8 (permalink) Old 04-02-2008, 12:02 PM
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Re: Economic Stimulis Act?

300 if you're a dependent, 600 is you're not and make under a certain amount of money.

If your dad (or mom) counted you as a dependent on their 2007 and 2008 tax forms, than you're a dependent. You can be one up to 25 years...mainly due to many people in college being supported financially by their parents.

More info:

http://www.irs.gov/irs/article/0,,id=177937,00.html

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