Comments on: How much of a tax rebate will i get from stimulus package? http://ihelpyouwithtaxes.com/how-much-of-a-tax-rebate-will-i-get-from-stimulus-package/ Tax blog with free tax resources Sat, 19 May 2012 12:00:55 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Judy http://ihelpyouwithtaxes.com/how-much-of-a-tax-rebate-will-i-get-from-stimulus-package/comment-page-1/#comment-4470 Judy Fri, 12 Mar 2010 03:13:01 +0000 http://ihelpyouwithtaxes.com/how-much-of-a-tax-rebate-will-i-get-from-stimulus-package/#comment-4470 No, dependents aren't eligible for the stimulus rebate. No, dependents aren’t eligible for the stimulus rebate.

]]> By: Richard M http://ihelpyouwithtaxes.com/how-much-of-a-tax-rebate-will-i-get-from-stimulus-package/comment-page-1/#comment-4469 Richard M Fri, 12 Mar 2010 02:49:59 +0000 http://ihelpyouwithtaxes.com/how-much-of-a-tax-rebate-will-i-get-from-stimulus-package/#comment-4469 If your parents claim you as a dependent, you will be ineligible for the rebate, but you may still benefit under the plan. While the rebate depends on your 2007 status and income, it is actually a rebate toward your 2008 taxes. According to the Economic Stimulus Act of 2008, taxes would be cut in 2008 from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers. So if you have taxable income in 2008, you will see a tax cut when you file in 2009. If your parents claim you as a dependent, you will be ineligible for the rebate, but you may still benefit under the plan.

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

So if you have taxable income in 2008, you will see a tax cut when you file in 2009.

]]> By: Astrolion http://ihelpyouwithtaxes.com/how-much-of-a-tax-rebate-will-i-get-from-stimulus-package/comment-page-1/#comment-4468 Astrolion Fri, 12 Mar 2010 02:07:20 +0000 http://ihelpyouwithtaxes.com/how-much-of-a-tax-rebate-will-i-get-from-stimulus-package/#comment-4468 No unfortunately "dependents" of someone else are not eligible for the rebate. If over 17 yrs. they are also not eligible for the "dependent" rebate on your parents return Sorry. No unfortunately “dependents” of someone else are not eligible for the rebate. If over 17 yrs. they are also not eligible for the “dependent” rebate on your parents return

Sorry.

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