Saturday, August 21, 2010

$1200 Gov Refund for married couples eligibility?

Will we get the $1200 refund? Here's my details.


I'm retired and gross about $38,000 from my pension. My wife as of June 6th 2007 wasn't eligible to work until Oct 2007 and only earned $1700 for 2007. So will we receive the $1200 refund on the virtue of married filing jointly or did she need to earn $3000 herself. We did file married joint return.


Thanks$1200 Gov Refund for married couples eligibility?
If you file jointly, it does not matter if only one spouse had sufficient income. The tax rebate is based on your joint 2007 earnings and Federal Income Tax liability.





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. Since you had earned income of at least $3000, you would get at least the minimum rebate of $600 ($300 each).





Use the YourMoney rebate tax calculator (link below) to compute your rebate.$1200 Gov Refund for married couples eligibility?
When you file joint, it doesn't matter which of you had the income. You'll get at least the minimum $600, $300 for each of you. If you paid over $600 in net federal income tax for the year, and you most likely did, you'll get the amount of tax you paid up to a maximum of $1200 for the two of you.
As long as your tax liabilty was at least $1200 (not how much you owe after filing) on your tax return, you will get the stimulus check of $1200. Otherwise, you will receive a reduced stimulus check.

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