Saturday, January 23, 2010

Is the tax rebate the same for married couples without children?

Under the compromise bill passed by the Congress, you would be eligible to receive a rebate of up to $1200 if you paid that much in Federal Income Tax. If you only paid $750 in taxes (less than the $1200 rebate limit), you only get back $750. If you had earned income of at least $3000, you would get at least the minimum rebate of $300.








While the rebate depends on your 2007 income, it is actually a rebate toward your 2008 taxes. According to the proposed plan, in 2008, taxes would be cut from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers.





It's like a one time tax cut for 2008, but you get the rebate now instead of waiting to file your 2008 taxes. Because this is an advance payment on your 2008 taxes, your refund next year could be more (or less!) depending on your 2008 income.Is the tax rebate the same for married couples without children?
you get paid differently based on if you are single, married, and you get paid like $300 per kidIs the tax rebate the same for married couples without children?
The tax rebate propsal hasn't passed yet - so all answers are speculation.
From info provided so far, there would be an extra amount per child for couples with kids.
Yes, $1200 for a couple.

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