What the government didn't tell you about your stimulus payment...

[gumpsgirl]

If you haven't received your stimulus payment yet, then don't count your chickens before they hatch! If you have already received it, you may have noticed that the amount was lower than you initially had figured you were going to get. That was our case here. What the government did NOT tell everyone upfront about their payment was that they based the amount of your stimulus payment on your 2007 net income tax liability. Say your a married couple that filed a joint return. That means that you should get $1200. Right? Wrong! The stimulus payment is determined by looking at your 2007 tax liability and then comparing it to the $1200. You get which ever of the two amounts are less. If your tax liability was less than the $1200, then you get the tax liability amount.

The best way to figure out how much you are going to get is to go to www.irs.gov and use the stimulus payment calculator. I used it and it was accurate in telling me how much we got.

Just FYI! No big deal on my end. It was more than I had to begin with!

 

[sundance]

we sorta got stung on the tax refund check deal,should have known you wouldn't get anything from the government for nothing. (unless you live in some foreign country then the government is more than willing to send millions of dollars over there to help them.) I'm not against helping people in disasters, but I have seen people in our local grocery store pick up some piece of meat and just look at it and then put it back down. Let's help America first before we help the world.I have a son serving in the military in the middle east,and from seeing the pix of soldiers comming home where are their jobs now.Sorry, guess I'll get off my soap box for now.

 

[belibutn]

Yeah, we got about 300 less than we expected for our family of 4... Really sucks, because that extra money was going to do things like get some bikes, and stuff like that.

 

[cluckychick]

I did the www.irs.gov thingy and entered everything it told me to from my tax papers and it told me I was getting $2100, I did not get that

 

[Cheep Mama]

Sundance, I agree with you. Our government needs to concentrate more on our own country and citizens and stop butting our noses into other countries business.
This extra money is great, but I don't think it will make any difference in the economy. We are purchasing concrete for a pole barn with it, but many people will just go to walmart and buy china products with their money.

 

[gumpsgirl]

Quote:
You're kidding me? The calculator was right on my end.

I have heard so many people say that they got a whole lot less than they initially thought they were going to get.

I just wanted to let people know to be careful, because more than likely you won't get as much as you thought initially.

 

[Farmer Kitty]

I heard on the radio this morning that the U.S. goverment borrowed the money for the stimulus payment from.....CHINA!

 

[Cheep Mama]

farmer Kitty, I heard that as well!!

 

[gumpsgirl]

Quote:
They did! Shoot, with our countries huge deficit, there was no other way. Pretty sad that the greatest country in the world can't help its own people without the help of another country like China. Where at least half of our jobs went, by the way.

 

[jnjross]

it seems the less you make the less you get, this is not going to help low income family, but i guess cause they don't want people to pay bills and buy "junk" instead. and you know poor folks are gonna save it or pay bills. we made 24000 and the calculator doesn't give anything for dd.