Whats my 2008 tax rebate amount?
If you qualify for the tax rebate, here’s what you can expect from the rebate program. • Taxpayers who file single, married and filing separately, or head of household: $600 • Taxpayers who are married and filing jointly: $1,200 • Low-income workers who normally don’t file a federal tax return: $300 ($600 if married and filing jointly) • For each child under 17 (as of December 31, 2007) whom you claim as a dependent: $300 The Child BonusThe IRS is strict about the bonus for dependent children. If your dependent child can legally see an NC-17 film, i.e., she is 17 or older, you cannot get the bonus bucks. As mentioned previously, if you have an AGI over $75,000 (if you file single, married and filing separately, or head of household) or $150,000 (married and filing jointly), your rebate will be reduced by 5 percent of the amount over the limit. For example, if you’re a single woman sans children with an income of $78,000, your tax rebate will be reduced by 5% of $3,000 ($78,000 – $75,00
