Tax rebate...$1200 or more?

[Whitney in KY]

I am confused about different things I've seen on the web. Somewhere I read that in addition to the $1200 for couples, there is an additional $300 per child. Other places don't mention the additional $300 for children. Does anyone know what is the truth?

Thanks,
Whitney

[Amy in NH]

The additional $300 per child is correct.

[KristineIN]

I think it's only up to two children though??? anyone know???

Kristine

[JFS in IL]

Our twins are 16 - will turn 17 in Sept. We have already lost the child credit due to their age....hubby figures they won't count for this, either. Why is it as soon as kids get really expensive (driving school, braces, exams, college) they don't "count" anymore?:mad:

[Quiver0f10]

I think it's only up to two children though??? anyone know???

Kristine

I have heard rumors of this, but haven't seen it in any of the articles I have read.

[Quiver0f10]

Our twins are 16 - will turn 17 in Sept. We have already lost the child credit due to their age....hubby figures they won't count for this, either. Why is it as soon as kids get really expensive (driving school, braces, exams, college) they don't "count" anymore?:mad:

I heard this orning that the cut off for children is age 17, which I agree, is silly LOL. The income used to qualify for the rebate is 2007 though, so they should still count for the rebate.

[Gwen in TX]

From consumerist.com :

Accord was reached and the economic stimulus plan has passed. Here's a brass tacks breakdown:

Workers making at least $3000 but not paying federal income taxes: $300
Income tax paying individuals: $600
Working couples: $1200
People with children: extra $300 per child
Individuals making $87,000 and couples up to $174,000: partial rebates
Fannie Mae and Freddie Mac loan purchase limits increased to 725,000, a boost from the $362,000 and $417,000 caps, respectively.
Businesses can write off 50% of purchases of capital equipment
Small businesses can write off additional equipment purchases

[Lisa at Home]

Dh says he last heard conflicting reports anyway, so I am still kind of confused.

~Lisa

[Cadam]

We file jointly but we are not a "working couple" because I am not "working". It would really stink to only get 600$ because we make the sacrifices for me to be home with the kids. :confused:

[BeachGirl]

Does anyone know if there are any provisions for single/head of household? I have one child and I am a single parent. I have my dd15 85% of the time. I haven't seen this mentioned anywhere in the information I have read about the rebate.:confused:

[Tracey in TX]

I'm livid with this rebate 'economic stimulus' package. Those people paying the most in taxes get nothing, while others who pay no income taxes are getting handouts. It is wealth distribution and reeks of Robin Hood.
We will not be getting any money refunded. I stay at home, homeschool my five children and have an absent Dh due to travel, yet we don't qualify to get some of our already paid taxes returned to my family. Seems entirely backwards to give money to those who didn't participate in income taxes. :mad::mad::mad:

[KidsHappen]

So my family would get the max of $2400. $1200 for my dh and myself and $1200 for the four children still living at home. Ours will go towards extra principle on our house.

[Dot]

Well, then you must be making over 175,000. President Bush is doing this as a way to jumpstart the economy---and he thinks that people under this amount will be inclined to IMMEDIATELY put it back into the economy.Those in higher brackets might be inclined to save it. But it is stupid--the US is borrowing tons of money from China, giving it to us to spend on, most likely, more crap from China.

[Brenda in FL]

This CNN article reports that there is no cap on the number of children.

http://http://money.cnn.com/2008/02/08/pf/taxes/rebates_what_you_need_to_know/index.htm?cnn=yes