Economic Stimulus Plan Question

snvanvlMay 12, 2008

My husband and I file joint on our taxes and have 5 children. Our income last year was 89,960 before any deductions were taken out. We received our stimulus money last Friday and it was $2100 but we thought it would be $2700 ($600 per adult and $300 per child). The only thing I can come up with is the way our child tax credit is listed on our tax forms. 2 of our children are adopted internationally but are US citizens and have valid SS #'s. On our taxes our adoption tax credit is listed under our credits and therefore wipes out our complete tax liability and our child tax credit is actually listed down lower as and additional child tax credit (it would usually be on line 52 but it is listed on line 68).

Does anybody know if I can call somewhere for them to correct this and give me my extra $600?

Or does someone have some insight that I don't have and I did get the correct amount?

Christy

Thank you for reporting this comment. Undo
jasper_60103

$300 per adult and $300 per qualifying child.

    Bookmark   May 12, 2008 at 4:18PM
Thank you for reporting this comment. Undo
harriethomeowner

No, it's $600 for each eligible adult. This is what it says on the IRS site:

"Eligible people will receive up to $600 ($1,200 for married couples), and parents will receive an additional $300 for each eligible child younger than 17."

Are any of your children over 17?

    Bookmark   May 12, 2008 at 5:01PM
Thank you for reporting this comment. Undo
clink

But what I understand -- you can not get more than you paid in. So maybe your tax liability was under $2700? It is a rebate, not merely a gift.

Cathy

    Bookmark   May 12, 2008 at 6:47PM
Thank you for reporting this comment. Undo
snvanvl

All of our children are under the age of 10.

Our tax liability was just over $3200 this past year but like I said our adoption tax credit wiped it away. The stimulus according to the letter we got in the mail today the amount of the stimulus payment is $1200 or your 2007 net income tax liability,whichever is less. And then it proceeds to say your Net Income Liabilty is your tax before any credits.

We did get $300.00 per child but we only got $600.00 for us according to the letter we got today.

    Bookmark   May 12, 2008 at 7:27PM
Thank you for reporting this comment. Undo
acey

we got $22.55

    Bookmark   May 13, 2008 at 4:48AM
Thank you for reporting this comment. Undo
patser

What harriet copied says "UP TO $600 per adult". I don't read that as saying it's a guaranteed $600 per adult.

    Bookmark   May 13, 2008 at 5:50AM
Thank you for reporting this comment. Undo
snvanvl

We finally talked to our tax person. Due to our adoption credit (which is considered a non-refundable credit) we were only allowed the $300 per adult. If it were not for our adoption credit we would have gotten the max of $600 because our tax liabilty was more than $1200.00.

Christy

    Bookmark   May 13, 2008 at 11:41AM
Thank you for reporting this comment. Undo
feedingfrenzy

We got nothing.

That's too bad, snvanvl. I don't think it should have had to come out that way for your family.

    Bookmark   May 13, 2008 at 12:53PM
Thank you for reporting this comment. Undo
richardallen

Here is the sad disgusting part of the rebate.....Most of it will be sent to China. I need a new AC and all of them were from China.

    Bookmark   May 15, 2008 at 10:15PM
Sign Up to comment
More Discussions
help!!! advice needed asap for 2nd mortgage
I need to take out $30,000 in equity for desperately...
gigigirl1
I NEED to vent!
I am so UPSET Just received a notice from my credit...
KarenPA_6b
Experience as a 1-car couple?
We moved into a new home (my first real house with...
ked1985
Family Banking Concept, anyone heard of it?
I did a search here and did not see any similiar thread....
rjinga
Any advice for a lady whose husband hides $?
I am a widow and used to doing for myself. I have a...
topsiebeezelbub
© 2015 Houzz Inc. Houzz® The new way to design your home™