Income Tax Rebate

Income Tax Rebate - Get IRS Stimulus Payment

Starting this May, IRS stimulus payment rebate checks will be mailed to approximately 117 million middle-and low-income taxpayers as part of the 2009 Economic Stimulus Act. You must file a 2008 tax return and meet adjusted gross income (AGI) levels to qualify. So Start Your Tax Return and Get Your Tax Rebate Check Sooner.
  • $600 for most single filers (AGI < $75,000)
  • $1200 for most joint filers (AGI < $150,000)
  • $300 for each qualifying child

Get Tax ID Number and Tax Return Copy

Need a Tax Identification Number?

A Tax Identification Number or TIN is an identifying number used for tax purposes in the United States. It may be assigned by the Social Security Administration or by the IRS.

A business need a Federal Tax Identification Number or Employer Tax Identification Number, so that they can maintain their own image or entity in the market. It is to be noted that, the tax ID number could not be transfer in case of the transferring of any business. If the structure or ownership would be changed then a new tax ID number is required for the business. But above all you have to collect the relevant information to get an EIN.

Need a Copy of Past Tax Return?

Taxpayers have two easy and convenient options for getting copies of their federal tax return information — tax return transcripts and tax account transcripts — by phone or by mail.

If you need a photocopy of a previously processed tax return and attachments, complete Form 4506, Request for Copy of Tax Form, and mail it to the IRS address listed on the form for your area. Copies are generally available for the current and past 6 years.



Single (Head of Household) with Children

In most cases, payments will range from $300 to $600 for individuals and $600 to $1200 for joint filers. Taxpayers may receive $300 for each qualifying child. Payments could be less, depending on tax liability and Adjusted Gross Income. Phaseout reduction begins at $75,000 for single filers and $150,000 for joint filers.

Examples of how the Economic Stimulus Act of 2009 may effect taxpayers who are single, file as head of household and have children who qualify for the child tax credit payment:

Head of household with children:
1) Single parent with two children, wages of $4,000, no federal income tax liability before child tax credit.
Individual rebate is $300
Qualifying child credit is $600
TOTAL is $900

2) Single parent with two children, no wages, veterans’ payments of $2,000, social security benefits of $2,000, no federal income tax liability before child tax credit.
Individual rebate is $300
Qualifying child credit is $600
TOTAL is $900

3) Single parent with two children, no wages, no social security benefits, veterans’ payments of $4,000, no federal income tax liability before child tax credit.
Individual rebate is $300
Qualifying child credit is $600
TOTAL is $900

4) Single parent with two children, no wages, no social security benefits, no veterans’ payments, AGI is $20,000, federal income tax liability before child tax credit is $195.
Individual rebate is $300
Qualifying child credit is $600
TOTAL is $900

5) Single parent with two children, AGI is $22,000, federal income tax liability before child tax credit is $395.
Individual rebate is $395
Qualifying child credit is $600
TOTAL is $995

6) Single parent with two children, AGI is $60,000, federal income tax liability before child tax credit exceeds $600.
Individual rebate is $600
Qualifying child credit is $600
TOTAL is $1,200

7) Single parent with two children, AGI is $90,000, federal income tax liability before child tax credit exceeds $600.
Individual rebate is $600
Qualifying child credit is $600
Phaseout reduction is ($750)
TOTAL is $450

Married Filing Separately

In most cases, payments will range from $300 to $600 for individuals and $600 to $1,200 for joint filers. Taxpayers may receive $300 for each qualifying child. Payments could be less, depending on tax liabilty and Adjusted Gross Income. Phaseout reduction begins at $75,000 for single filers and $150,000 for joint filers.

Examples of how the Economic Stimulus Act of 2009 may affect taxpayers who are married but file separately, with or without children who qualify for the child tax credit payment:

1) Married, no children, filing separately; both have valid Social Security numbers (SSNs)

Married couple, no children. They choose to file separate tax returns, each using the Married Filing Separately (MFS) filing status. Husband has adjusted gross income (AGI) of $7,000, none of which is earned income or other qualifying income; wife has AGI of $12,000 and net income tax liability of $328.

Husband's economic stimulus payment is $0 (because he has no net income tax liability and no qualifying income)

Wife's economic stimulus payment is $328 (limited to her net income tax liability)

Note — if this couple files jointly, and their joint net income tax liability is at least $1, their economic stimulus payment would be $600.



--------------------------------------------------------------------------------

2) Married, no children, filing separately; both have valid SSNs

Married couple, no children. They choose to file separate tax returns, each using the Married Filing Separately filing status. Husband has AGI of $7,000, including $5,000 of earned income; wife has AGI of $12,000 and net income tax liability of $328.

Husband's economic stimulus payment is $300 (he has no net income tax liability; however, he has at least $3,000 in earned income)

Wife's economic stimulus payment is $328 (limited to her net income tax liability)

Note — if this couple files jointly, their economic stimulus payment would be $600.



--------------------------------------------------------------------------------

3) Married, no children, filing separately; both have valid SSNs

Married couple, no children. They choose to file separate tax returns, each using the Married Filing Separately filing status. Husband has AGI of $25,000; wife has AGI of $26,000. Husband and wife each have a net income tax liability in excess of $600.

Husband's economic stimulus payment is $600

Wife's economic stimulus payment is $600

Note — if this couple files jointly and their joint net income tax liability exceeds $1,200, their economic stimulus payment would be $1,200.



--------------------------------------------------------------------------------

4) Married, no children, filing separately; both have valid SSNs

Married couple, no children. They choose to file separate tax returns, each using the Married Filing Separately filing status. Husband has AGI of $80,000; wife has AGI of $70,000. Husband and wife each have a net income tax liability in excess of $600.

Husband's economic stimulus payment is $350 (basic economic stimulus paymentof $600, phased down $250 because his AGI exceeds $75,000)

Wife's economic stimulus payment is $600

Note — if this couple files jointly, and their joint net income tax liability exceeds $1,200, their economic stimulus payment would be $1,200.



--------------------------------------------------------------------------------

5) Married, two children, filing separately; all have valid SSNs

Married couple, two qualifying children. They choose to file separate tax returns, each using the Married Filing Separately filing status. They each claim one of the two children. Husband has AGI of $15,000 and net income tax liability of $286; wife has AGI of $25,000 and net income tax liability in excess of $600.

Husband's economic stimulus payment is $600 {basic economic stimulus payment of $300 (limited by his net income tax liability of $286, but raised to the minimum of $300), plus child amount of $300}

Wife's economic stimulus payment is $900 (basic economic stimulus payment of $600, plus child amount of $300)

Note — if this couple files jointly, and their joint net income tax liability exceeds $1,200, their economic stimulus payment would be $1,800 (basic economic stimulus payment of $1,200, plus child amount of $600).



--------------------------------------------------------------------------------

6) Married, two children, filing separately; all have valid SSNs

Married couple, two qualifying children. They choose to file separate tax returns, each using the Married Filing Separately filing status. They each claim one of the two children. Husband has AGI of $80,000; wife has AGI of $70,000. Husband and wife each have a net income tax liability in excess of $600.

Husband's economic stimulus payment is $650 (basic economic stimulus paymentof $600, plus child amount of $300; total $900, then phased down $250 because his AGI exceeds $75,000)

Wife's economic stimulus payment is $900 (basic economic stimulus paymentof $600, plus child amount of $300)

Note — if this couple files jointly, and their joint net income tax liability exceeds $1,200, their economic stimulus payment would be $1,800 (basic economic stimulus payment of $1,200, plus child amount of $600).



--------------------------------------------------------------------------------

7) Choosing MFS instead of MFJ, one spouse with ITIN

Married couple, no children. The wife has a valid SSN, but husband does not qualify for an SSN. Instead, the husband has an Individual Taxpayer Identification Number (ITIN) which was provided by the IRS for tax filing purposes. They are each required to file for 2008 and filed separate tax returns, both using the filing status Married Filing Separately. They each meet the income tax liability and income qualifications to receive an economic stimulus payment of the maximum amount.

Husband’s economic stimulus payment is $0 (because he does not have a valid Social Security number)

Wife’s economic stimulus payment is $600

Note — if this couple files jointly, their economic stimulus payment would be $0, because they filed jointly and one of them does not have a valid Social Security number.

Married without Qualifying Children

In most cases, payments will range from $300 to $600 for individuals and $600 to $1200 for joint filers. Taxpayers may receive $300 for each qualifying child. Payments could be less, depending on tax liabilty and Adjusted Gross Income. Phaseout reduction begins at $75,000 for single filers and $150,000 for joint filers.

Examples of ways the Economic Stimulus Act of 2009 may affect taxpayers who are married, file a joint return and are either childless or do not have children who qualify for child tax credit payment:

1) Married couple with no children, wages of $4,000, no federal income tax liability.
Rebate is $600

2) Married couple with no children, no wages, veterans’ payments of $2,000, social security benefits of $2,000, no federal income tax liability.
Rebate is $600

3) Married couple with no children, no wages, no social security benefits, veterans’ payments of $4,000, no federal income tax liability.
Rebate is $600

4) Married couple with no children, no wages, no social security benefits, no veterans’ payments, AGI is $20,000, federal income tax liability is $250.
Rebate is $600

5) Married couple with no children, AGI is $25,000, federal income tax liability is $750.
Rebate is $750

6) Married couple with no children, AGI is $60,000, federal income tax liability exceeds $1,200.
Rebate is $1,200

7) Married couple with no children, AGI is $160,000, federal income tax liability exceeds $1,200.
Rebate is $1,200
Phaseout reduction is ($500)
TOTAL is $700

Stimulus Payment Scenarios for Married with Qualifying Children

In most cases, payments will range from $300 to $600 for individuals and $600 to $1200 for joint filers. Taxpayers may receive $300 for each qualifying child. Payments could be less, depending on tax liability and Adjusted Gross Income. Phaseout reduction begins at $75,000 for single filers and $150,000 for joint filers.

Examples of how the Economic Stimulus Act of 2009 may affect taxpayers who are married, file a joint return and have children who qualify for the child tax credit payment:

1) Married couple with two children, wages of $4,000, no federal income tax liability before child tax credit.
Rebate is $600
Qualifying child credit is $600
TOTAL is $1,200

2) Married couple with two children, no wages, veterans’ payments of $2,000, social security benefits of $2,000, no federal income tax liability before child tax credit.
Rebate is $600
Qualifying child credit is $600
TOTAL is $1,200

3) Married couple with two children, no wages, no social security benefits, veterans’ payments of $4,000, no federal income tax liability before child tax credit.
Rebate is $600
Qualifying child credit is $600
TOTAL is $1,200

4) Married couple with two children, no wages, no social security benefits, no veterans’ payments, AGI is $25,000, federal income tax liability before child tax credit is $70.
Rebate is $600
Qualifying child credit is $600
TOTAL is $1,200

5) Married couple with two children, AGI is $35,000, federal income tax liability before child tax credit is $1,070.
Rebate is $1,070
Qualifying child credit is $600
TOTAL is $1,670

6) Married couple with two children, AGI is $80,000, federal income tax liability before child tax credit exceeds $1,200.
Rebate is $1,200
Qualifying child credit is $600
TOTAL is $1,800

7) Married couple with two children, AGI is $160,000, federal income tax liability before child tax credit exceeds $1,200.
Rebate is $1,200
Qualifying child credit is $600
Phaseout reduction is ($500)
TOTAL is $1,300

Disclosure Policy

This blog is a sponsored blog created or supported by a company, organization or group of organizations. This blog accepts forms of cash advertising, sponsorship, paid insertions or other forms of compensation.

The compensation received may influence the advertising content, topics or posts made in this blog. That content, advertising space or post may not always be identified as paid or sponsored content.

The owner(s) of this blog is not compensated to provide opinion on products, services, websites and various other topics. The views and opinions expressed on this blog are purely the blog owners. If we claim or appear to be experts on a certain topic or product or service area, we will only endorse products or services that we believe, based on our expertise, are worthy of such endorsement. Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer or provider.

The owner(s) of this blog would like to disclose the following existing relationships. We are working as an Affiliate with TaxBrain. And in return they give us a Commission.

Income Tax Rebate
Prepare and e-File your 2008 income tax return and get your IRS Income Tax Rebate check. Get your IRS Stimulus payment now file your federal tax return.
How Much Will You Get?
Qualifying single filers adjusted gross income (AGI), less than $75,000 will get a rebate of $300-$600. Qualifying joint filers with an AGI less than $150,000 will get a rebate of $600-$1,200. Those with children will get an additional $300 for each qualifying child.
Previous Post
Archives