Who Qualifies For The Tax Rebate ?
A lot of people want to know if they qualify for the tax rebate given by the US government. It has become a common concern. The news was out, that nearly 150 million people will qualify for tax rebates this May in the United States. The rebates will be mostly sent to middle and low income people in the United States. |
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This income is determined keeping the federal median income in view. The rebate will also include people living on their Social Security income and veterans. For tax payers to be eligible for the rebate, they must have filed for the income tax returns in 2008.
The adjusted gross income is taken into consideration and if it is $75,000, then individuals qualify for it. Adjusted gross income is calculated by including deductibles like child support, alimony, health insurance and social security paid. For joint income, the amount is $150,000.
People who file individually can receive up to $300 and jointly can receive up to $600. In case, the circumstances change after filing the previous year, like a loss of job or considerable pay cuts, then the amount for the individual can be up to $600 and $1200 for joint tax filing.
In addition to the above, parents of children who are under the age of 17 receive another $300 for each child. There is no limit on how many children it can be claimed for, as long as they are your own children. If you did not claim the benefits the previous year, you can still do it in the current year.
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