Just wondering, say a retired couple makes $30,000 in retirement and social security and gets a $250 tax refund for the 2007 year, would they be eligible for the tax rebate? I read on a couple of websites that it depended on the amount of the tax refund also, but not sure if this is true and can't find anything thats legit on the retirees. Anyone have an idea?

2/9/2008 12:34:34 PM

It has nothing due with their refund. It has everything to do with tax liability. If you have a tax liability of $300 or less you will get a rebate of $300, if your tax liability is from $301 to $599 your rebate will be your exact tax liability, and if your tax liability is $600 or more you will get a rebate of $600.

This is only one interpreation I have heard. I am still waiting for the IRS to dumb down the language of the bill.

2/9/2008 9:24:39 PM

Are you saying it has to do with what you owe? I dont think so, a coworker it going to get 2100 and I know she doesnt have a tax liability of that(married, 3 kids) I am going to get $600 and I am getting money back.

senior citizens $300 and military vets(i think)

income less than 75,000 for single, $600

income less than 150,000 for married, $1200, +300 for each kid(no limit)

2/10/2008 12:36:49 AM

A married couple with 3 kids would have to have income less than $27,750 to have no tax liability. Tax liability is tax calculated on taxable income before credits. Tax liability has nothing to do with taxes owed or refund due.

[Edited on February 10, 2008 at 5:31 PM. Reason : more]

2/10/2008 5:30:31 PM