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Economic Stimulus Checks

ThanatosThanatos Registered User regular
edited June 2008 in Help / Advice Forum
Okay, seems to be plenty of questions about these in here, so I'm throwing this up as your primer on economic stimulus checks.

If you just want to know when your check/direct deposit will arrive, you can find that information here.

In order to get a check, you must:
  • Be a U.S. citizen.
  • Have filed your 2007 taxes (the ones that were due April 15th of this year)
  • Be at least 17 years of age.
  • Have an income of at least $3000.
  • Not be claimed as a dependent on anyone's tax return.
  • Have an income of less than $150,000, $300,000 if married, filing jointly (anything above $75,000, $150,000 if married and filing jointly will result in a reduced check).

For most people on these forums, your check will be $600 ($1200 if married, filing jointly). You get an additional $300 for each dependent child under the age of 17 which you claim. This means that if your parents are claiming you as a dependent and you are over 17, they will not get the extra $300. They can file an amended return and not claim you if their savings for claiming you was less than $600 (you can get your own check for $600, and, if you're feeling generous, pay them the difference in their taxes out of it).

Any questions you folks have can be asked in this thread.

Thanatos on
«134

Posts

  • LavaKnightLavaKnight Registered User regular
    edited April 2008
    Damn, so dependents over 17 don't get the $600? That's a bummer because I still have to be claimed as a dependent for school purposes even though I'm entirely self sufficient.

    LavaKnight on
  • RaneadosRaneados Registered User regular
    edited April 2008
    LavaKnight wrote: »
    Damn, so dependents over 17 don't get the $600? That's a bummer because I still have to be claimed as a dependent for school purposes even though I'm entirely self sufficient.

    isn't that fraud?

    Raneados on
    Dubh wrote: »
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  • Fuzzy Cumulonimbus CloudFuzzy Cumulonimbus Cloud Communications expert for the millennial generation Registered User regular
    edited April 2008
    Raneados wrote: »
    LavaKnight wrote: »
    Damn, so dependents over 17 don't get the $600? That's a bummer because I still have to be claimed as a dependent for school purposes even though I'm entirely self sufficient.

    isn't that fraud?
    Only if he receives more than half his income from himself.

    Fuzzy Cumulonimbus Cloud on
    Zd4nBhf.jpg




  • GiantRoboGiantRobo Registered User
    edited April 2008
    God fucking damnit.

    I thought my dad was gonna file me as a dependant on taxes as usual this year, nope.

    They were filed before his, and now I don't get any check whatsoever.

    I hate life right now.

    GiantRobo on
    Be as gay as you can. You're already dressed as a pirate, that's a good first step.
  • Seattle ThreadSeattle Thread Registered User regular
    edited April 2008
    GiantRobo wrote: »
    God fucking damnit.

    I thought my dad was gonna file me as a dependant on taxes as usual this year, nope.

    They were filed before his, and now I don't get any check whatsoever.

    I hate life right now.
    The way this is written makes it sound like your father did not claim you as dependent, in which case you would be eligible for a stimulus check.

    Seattle Thread on
  • DaenrisDaenris Registered User regular
    edited April 2008
    GiantRobo wrote: »
    God fucking damnit.

    I thought my dad was gonna file me as a dependant on taxes as usual this year, nope.

    They were filed before his, and now I don't get any check whatsoever.

    I hate life right now.

    If you're saying that you marked on your taxes that you were a dependent, and your father didn't claim you on his taxes, then you should file an amendment to fix your taxes.

    Daenris on
  • GiantRoboGiantRobo Registered User
    edited April 2008
    Daenris wrote: »
    GiantRobo wrote: »
    God fucking damnit.

    I thought my dad was gonna file me as a dependant on taxes as usual this year, nope.

    They were filed before his, and now I don't get any check whatsoever.

    I hate life right now.

    If you're saying that you marked on your taxes that you were a dependent, and your father didn't claim you on his taxes, then you should file an amendment to fix your taxes.
    I shall ask him about this when he gets home.

    GiantRobo on
    Be as gay as you can. You're already dressed as a pirate, that's a good first step.
  • MegaMan001MegaMan001 CRNA Rochester, MNRegistered User regular
    edited April 2008
    I also got fucked because my parents claimed me as a dependent, even though I moved out this year.

    I couldn't tell you if this was fraud or not.

    MegaMan001 on
    I am in the business of saving lives.
  • ThanatosThanatos Registered User regular
    edited April 2008
    MegaMan001 wrote: »
    I also got fucked because my parents claimed me as a dependent, even though I moved out this year.

    I couldn't tell you if this was fraud or not.
    If you lived with them at least 6 months of last year, you were a dependent (unless you were paying rent or otherwise financially independent of them).

    Thanatos on
  • MegaMan001MegaMan001 CRNA Rochester, MNRegistered User regular
    edited April 2008
    Thanatos wrote: »
    MegaMan001 wrote: »
    I also got fucked because my parents claimed me as a dependent, even though I moved out this year.

    I couldn't tell you if this was fraud or not.
    If you lived with them at least 6 months of last year, you were a dependent (unless you were paying rent or otherwise financially independent of them).

    Huh. All right. Not fraud then.

    Just inconvenient to plans of getting myself a new laptop.

    MegaMan001 on
    I am in the business of saving lives.
  • The DoctorThe Doctor Registered User
    edited April 2008
    When is June 13th here?

    The Doctor on
  • ArikadoArikado Southern CaliforniaRegistered User regular
    edited April 2008
    So we should be seeing these in early May, correct?

    I was under the assumption that this was going to be coupled with my tax return but I was obviously wrong. This'll give me a good month of freedom and to plan out the rest of my PAX trip.

    Arikado on
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  • ThanatosThanatos Registered User regular
    edited April 2008
    Arikado wrote: »
    So we should be seeing these in early May, correct?

    I was under the assumption that this was going to be coupled with my tax return but I was obviously wrong. This'll give me a good month of freedom and to plan out the rest of my PAX trip.
    See the link in the OP for timing. It depends on your SS# and method of payment.

    Thanatos on
  • PheezerPheezer Registered User, ClubPA regular
    edited April 2008
    Question:

    Wouldn't it make more sense to put this money into make work projects that beautify the nation or improve the conditions of the core infrastructure in cities that are having difficulty doing so themselves? Wouldn't this address the greater unemployment issue, and concentrate the money in the hands of people who need it worst, while also providing something of utility or value to everyone?

    Wasn't a major city recently wiped halfway off the map? Couldn't the funds be better spent on projects in that area, even? I would imagine that if anywhere requires economic stimulus it might be there.

    I need to know, Thanatos. Isn't this just one more dumb iteration of Reagonomics? Didn't we figure out that this doesn't really actually work?

    Pheezer on
    IT'S GOT ME REACHING IN MY POCKET IT'S GOT ME FORKING OVER CASH
    CUZ THERE'S SOMETHING IN THE MIDDLE AND IT'S GIVING ME A RASH
  • ThanatosThanatos Registered User regular
    edited April 2008
    Pheezer wrote: »
    Question:

    Wouldn't it make more sense to put this money into make work projects that beautify the nation or improve the conditions of the core infrastructure in cities that are having difficulty doing so themselves? Wouldn't this address the greater unemployment issue, and concentrate the money in the hands of people who need it worst, while also providing something of utility or value to everyone?

    Wasn't a major city recently wiped halfway off the map? Couldn't the funds be better spent on projects in that area, even? I would imagine that if anywhere requires economic stimulus it might be there.

    I need to know, Thanatos. Isn't this just one more dumb iteration of Reagonomics? Didn't we figure out that this doesn't really actually work?
    Probably, yes, yes, probably, largely, and like most things in economics, the jury is still out.

    This will actually help a lot of people make it through the summer, though. Overall, personally, I think the current "recession" is a good thing; our money needed some devaluation, both because of the large debt we're currently carrying (which now will cost much less to pay off) and because it makes our exports much more desirable. We're actually running out of shipping crates. We've had the opposite problem for a very long time.

    Thanatos on
  • devicesdevices Registered User
    edited April 2008
    i probably misread it, but for some reason i remember reading an AP article that said the checks would be up to 600 or 1200. did they change the language to be exactly 600/1200? or was it always exact? again, in all likelihood i just misread, but i want to be sure before i get my hopes up :lol:

    devices on
  • ThanatosThanatos Registered User regular
    edited April 2008
    devices wrote: »
    i probably misread it, but for some reason i remember reading an AP article that said the checks would be up to 600 or 1200. did they change the language to be exactly 600/1200? or was it always exact? again, in all likelihood i just misread, but i want to be sure before i get my hopes up :lol:
    If you're not a dependent, claiming at least $3,000/$6,000 but less than $75,000/$150,000, and have filed your taxes for 2007, you'll be getting $600/$1200.

    Thanatos on
  • DesertBoxDesertBox Registered User
    edited April 2008
    Thanatos' numbers are for filing single/married, to clear up any confusion

    DesertBox on
    Made you click!
  • VThornheartVThornheart Registered User regular
    edited April 2008
    Pheezer wrote: »
    Question:

    Wouldn't it make more sense to put this money into make work projects that beautify the nation or improve the conditions of the core infrastructure in cities that are having difficulty doing so themselves? Wouldn't this address the greater unemployment issue, and concentrate the money in the hands of people who need it worst, while also providing something of utility or value to everyone?

    Wasn't a major city recently wiped halfway off the map? Couldn't the funds be better spent on projects in that area, even? I would imagine that if anywhere requires economic stimulus it might be there.

    I need to know, Thanatos. Isn't this just one more dumb iteration of Reagonomics? Didn't we figure out that this doesn't really actually work?

    Seconded. You won't see me passing the money back, of course ( :wink: )... but I do agree with you wholeheartedly Pheezer. It's basically 150 billion dollars worth of politicians trying to make people feel good about them.

    VThornheart on
    3DS Friend Code: 1950-8938-9095
  • KalTorakKalTorak Way up inside your butthole, Morty. WAAAAY up inside there.Registered User regular
    edited April 2008
    Pheezer wrote: »
    Question:

    Wouldn't it make more sense to put this money into make work projects that beautify the nation or improve the conditions of the core infrastructure in cities that are having difficulty doing so themselves? Wouldn't this address the greater unemployment issue, and concentrate the money in the hands of people who need it worst, while also providing something of utility or value to everyone?

    Wasn't a major city recently wiped halfway off the map? Couldn't the funds be better spent on projects in that area, even? I would imagine that if anywhere requires economic stimulus it might be there.

    I need to know, Thanatos. Isn't this just one more dumb iteration of Reagonomics? Didn't we figure out that this doesn't really actually work?

    Seconded. You won't see me passing the money back, of course ( :wink: )... but I do agree with you wholeheartedly Pheezer. It's basically 150 billion dollars worth of politicians trying to make people feel good about them.

    And buy American-made big-screen HDTVs.

    (Do those exist?)

    KalTorak on
  • Regicid3Regicid3 Registered User regular
    edited April 2008
    I still haven't received anything in the mail about my stimulus check but a few people I know have . . . according to some chart I saw a while back I won't be getting my check until August because of the last two digits of my SS# and I think that might be why but my Dad won't be getting his until July and he got a letter. He didn't claim me as a dependent, I'm 20, made $13,000 and filed in February. Anybody know what's going on?

    Regicid3 on
  • VThornheartVThornheart Registered User regular
    edited April 2008
    How much did you make last year? I think they sent letters to people who would've theoretically qualified last year, because odds are they'll be the same group that qualifies this year. However, even if you wouldn't have qualified last year, you'll still get a check as long as you qualify for this year's taxes (the ones we all just filed).

    Hmm... I don't think I could've said that in a more confusing way. Sorry. =( Lemme try that again.

    Even if you didn't get a notice letter, you'll still get a check if you met the qualifications this year and as long as you weren't claimed as a dependent. You may have simply not gotten the letter because they use last year's returns to guess who may be getting the check this year... so if you wouldn't have made enough last year, you wouldn't have gotten the notice letter but will still get the check.

    VThornheart on
    3DS Friend Code: 1950-8938-9095
  • Regicid3Regicid3 Registered User regular
    edited April 2008
    Regicid3 wrote: »
    I still haven't received anything in the mail about my stimulus check but a few people I know have . . . according to some chart I saw a while back I won't be getting my check until August because of the last two digits of my SS# and I think that might be why but my Dad won't be getting his until July and he got a letter. He didn't claim me as a dependent, I'm 20, made $13,000 and filed in February. Anybody know what's going on?

    I also filed my 2006 and 2007 taxes on the same day, if that's relevant.

    Regicid3 on
  • VThornheartVThornheart Registered User regular
    edited April 2008
    Aye, highly relevant =) That means they didn't have your information on file from last year... or at least, didn't have it finished by the time they tried to use that info to figure out who to send the notice to.

    You should be getting it I'd think, as long as you weren't claimed and fit that high/low income cutoff.

    VThornheart on
    3DS Friend Code: 1950-8938-9095
  • DaenrisDaenris Registered User regular
    edited April 2008
    Regicid3 wrote: »
    I still haven't received anything in the mail about my stimulus check but a few people I know have . . . according to some chart I saw a while back I won't be getting my check until August because of the last two digits of my SS# and I think that might be why but my Dad won't be getting his until July and he got a letter. He didn't claim me as a dependent, I'm 20, made $13,000 and filed in February. Anybody know what's going on?

    The chart you say you saw is wrong or out of date. The link in Thanatos' first post shows the schedule for payments being deposited/mailed, and the latest is July 11th for paper checks. If your return was direct deposited, the latest is May 16th.

    Daenris on
  • urahonkyurahonky Registered User regular
    edited April 2008
    Yeah I didn't get a letter either, which makes me worry that I might not be getting it. I filed last year at a different location, would that make a difference? I move way too often..

    urahonky on
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  • ThanatosThanatos Registered User regular
    edited April 2008
    urahonky wrote: »
    Yeah I didn't get a letter either, which makes me worry that I might not be getting it. I filed last year at a different location, would that make a difference? I move way too often..
    It may make a difference for the letter (someone mentioned them drawing from last year's info), but shouldn't make a difference for the refund.

    Thanatos on
  • Regicid3Regicid3 Registered User regular
    edited April 2008
    I applied for direct deposit for all of my returns but only the 2007 state went to my bank account. The 2007 federal went in some credit card I got from my tax guy and the 2006 checks got mailed to me. They should have my bank information, I hope . . . I could be getting this in May, if not . . . June.

    Was that huge bold faced link in the OP when I originally posted because . . . uh, I don't recall seeing it.

    Regicid3 on
  • Liquid GhostLiquid Ghost DO YOU HEAR THE VOICES, TOO?! Registered User regular
    edited April 2008
    I didn't quite make $3000, so I get to sit this one out, I guess.

    Liquid Ghost on
  • Whiniest Man On EarthWhiniest Man On Earth Registered User
    edited April 2008
    Question: I've used TurboTax to file my taxes year after year, and I always receive my refunds via direct deposit. Does that mean that my stimulus payment will come direct deposit?

    Whiniest Man On Earth on
  • ThanatosThanatos Registered User regular
    edited April 2008
    defrag wrote: »
    Question: I've used TurboTax to file my taxes year after year, and I always receive my refunds via direct deposit. Does that mean that my stimulus payment will come direct deposit?
    Yes.

    Thanatos on
  • Whiniest Man On EarthWhiniest Man On Earth Registered User
    edited April 2008
    WOO! That's awesome, because I have a very low SSN, and I'm broke! :D

    Whiniest Man On Earth on
  • UltimanecatUltimanecat Registered User regular
    edited May 2008
    If you made $4000 or less and didn't owe any taxes (i.e. you got all your federal taxes that were witheld back), you get $300, not $600. Useful to know for part-time/seasonal workers.

    edit: Actually, if you made ANY amount but had no tax liability, you get $300. Explains me making $6000 and getting that much.

    Ultimanecat on
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  • ElinElin Registered User regular
    edited May 2008
    My husband got his deposit tonight, it was 560. I know it's the stimulus as we've already received and spent our refunds. Just a heads up.

    PS: Our taxes were filed before we were married so that was for a single filer.

    Elin on
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  • JPantsJPants Registered User regular
    edited May 2008
    Thanatos wrote: »
    devices wrote: »
    i probably misread it, but for some reason i remember reading an AP article that said the checks would be up to 600 or 1200. did they change the language to be exactly 600/1200? or was it always exact? again, in all likelihood i just misread, but i want to be sure before i get my hopes up :lol:
    If you're not a dependent, claiming at least $3,000/$6,000 but less than $75,000/$150,000, and have filed your taxes for 2007, you'll be getting $600/$1200.

    Where'd you get that info Than?

    I was under the impression it was based on your tax liability/refund, not your AGI.

    JPants on
  • ThanatosThanatos Registered User regular
    edited May 2008
    JPants wrote: »
    Thanatos wrote: »
    devices wrote: »
    i probably misread it, but for some reason i remember reading an AP article that said the checks would be up to 600 or 1200. did they change the language to be exactly 600/1200? or was it always exact? again, in all likelihood i just misread, but i want to be sure before i get my hopes up :lol:
    If you're not a dependent, claiming at least $3,000/$6,000 but less than $75,000/$150,000, and have filed your taxes for 2007, you'll be getting $600/$1200.
    Where'd you get that info Than?

    I was under the impression it was based on your tax liability/refund, not your AGI.
    The IRS' web page. It's based on your AGI.

    Thanatos on
  • JPantsJPants Registered User regular
    edited May 2008
    Thanatos wrote: »
    JPants wrote: »
    Thanatos wrote: »
    devices wrote: »
    i probably misread it, but for some reason i remember reading an AP article that said the checks would be up to 600 or 1200. did they change the language to be exactly 600/1200? or was it always exact? again, in all likelihood i just misread, but i want to be sure before i get my hopes up :lol:
    If you're not a dependent, claiming at least $3,000/$6,000 but less than $75,000/$150,000, and have filed your taxes for 2007, you'll be getting $600/$1200.
    Where'd you get that info Than?

    I was under the impression it was based on your tax liability/refund, not your AGI.
    The IRS' web page. It's based on your AGI.

    Hmmm, maybe you're looking somewhere else than me but the only info i found was a "refund estimator" which took data from my 2k7 tax for m and gave me an estimated return.

    AGI over 12k and my estimated refund was less than 600. Exactly what my tax liability was, in fact.

    Hope you're the right one and I'm the wrong one...

    JPants on
  • ASimPersonASimPerson Cold... ... and hard.Registered User regular
    edited May 2008
    Did you use right calculator? http://www.irs.gov/app/espc/

    ASimPerson on
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  • DaenrisDaenris Registered User regular
    edited May 2008
    JPants wrote: »
    Hmmm, maybe you're looking somewhere else than me but the only info i found was a "refund estimator" which took data from my 2k7 tax for m and gave me an estimated return.

    AGI over 12k and my estimated refund was less than 600. Exactly what my tax liability was, in fact.

    Hope you're the right one and I'm the wrong one...

    You shouldn't be using a refund estimator. You should be using the economic stimulus rebate calculator (as linked by ASimPerson). This is different from your tax refund, so a tax refund calculator isn't going to give you the correct result.

    Daenris on
  • JPantsJPants Registered User regular
    edited May 2008
    Daenris wrote: »
    JPants wrote: »
    Hmmm, maybe you're looking somewhere else than me but the only info i found was a "refund estimator" which took data from my 2k7 tax for m and gave me an estimated return.

    AGI over 12k and my estimated refund was less than 600. Exactly what my tax liability was, in fact.

    Hope you're the right one and I'm the wrong one...

    You shouldn't be using a refund estimator. You should be using the economic stimulus rebate calculator (as linked by ASimPerson). This is different from your tax refund, so a tax refund calculator isn't going to give you the correct result.

    I miss-spoke, i meant rebate calculator.
    Economic Stimulus Payment Calculator
    You may qualify for an economic stimulus payment

    Based on the information you provided, your expected stimulus payment is $358.

    JPants on
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