The IRS has begun notifying taxpayers that more than 130 million households will start receiving economic stimulus payments in May.
To receive a payment, taxpayers must have a valid Social Security number, $3,000 of income and file a 2007 federal tax return. IRS will take care of the rest. Eligible people will receive up to $600 ($1,200 for married couples), and parents will receive an additional $300 for each eligible child younger than 17. Millions who usually are exempt from filing a tax return must do so this year in order to receive a stimulus payment. Phaseout reduction begins at $75,000 for single filers.
More details are available at www.irs.gov.
What should single parents expect? Here are some examples from the IRS:
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
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9 comments:
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You may , probably curious to know how one can manage to receive high yields .
There is no need to invest much at first. You may commense to get income with as small sum of money as 20-100 dollars.
AimTrust is what you thought of all the time
The company incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
Its head office is in Panama with affiliates around the world.
Do you want to become an affluent person?
That`s your chance That`s what you really need!
I`m happy and lucky, I started to take up real money with the help of this company,
and I invite you to do the same. If it gets down to select a proper partner utilizes your funds in a right way - that`s it!.
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Hello !.
might , perhaps curious to know how one can collect a huge starting capital .
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AimTrust is what you haven`t ever dreamt of such a chance to become rich
The firm represents an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
Its head office is in Panama with structures everywhere: In USA, Canada, Cyprus.
Do you want to become an affluent person?
That`s your choice That`s what you wish in the long run!
I`m happy and lucky, I began to take up real money with the help of this company,
and I invite you to do the same. If it gets down to select a correct companion utilizes your funds in a right way - that`s the AimTrust!.
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There is no need to invest much at first. You may start to get income with as small sum of money as 20-100 dollars.
AimTrust is what you haven`t ever dreamt of such a chance to become rich
AimTrust represents an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
It is based in Panama with structures around the world.
Do you want to become really rich in short time?
That`s your choice That`s what you desire!
I feel good, I started to get real money with the help of this company,
and I invite you to do the same. It`s all about how to select a proper companion utilizes your funds in a right way - that`s the AimTrust!.
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Hello !.
You re, I guess , perhaps curious to know how one can collect a huge starting capital .
There is no initial capital needed You may start to get income with as small sum of money as 20-100 dollars.
AimTrust is what you thought of all the time
The company represents an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
Its head office is in Panama with structures around the world.
Do you want to become a happy investor?
That`s your chance That`s what you wish in the long run!
I`m happy and lucky, I started to get real money with the help of this company,
and I invite you to do the same. If it gets down to choose a proper partner utilizes your savings in a right way - that`s it!.
I make 2G daily, and my first investment was 500 dollars only!
It`s easy to join , just click this link http://abybepit.digitalzones.com/jiwinu.html
and lucky you`re! Let`s take our chance together to feel the smell of real money
Hi !.
You re, I guess , perhaps very interested to know how one can make real money .
There is no need to invest much at first. You may start to get income with as small sum of money as 20-100 dollars.
AimTrust is what you haven`t ever dreamt of such a chance to become rich
The firm incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
It is based in Panama with structures around the world.
Do you want to become a happy investor?
That`s your choice That`s what you wish in the long run!
I feel good, I started to take up income with the help of this company,
and I invite you to do the same. If it gets down to choose a proper companion utilizes your funds in a right way - that`s it!.
I earn US$2,000 per day, and my first investment was 500 dollars only!
It`s easy to start , just click this link http://omojikepe.1accesshost.com/yvukoni.html
and go! Let`s take our chance together to get rid of nastiness of the life
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