rebate

Billy · Joined: 28 Aug 2007 Posts: 9

If one person is a disabled Veteran and spouse is working, can they collect
the 2 rebates plus the disabled Vet rebate also under new plan?

tks

bw

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Archived from group: misc>taxes>moderated

Phil Marti · Joined: 25 Aug 2007 Posts: 2520

"Billy" wrote:

> If one person is a disabled Veteran and spouse is working, can they
> collect the 2 rebates plus the disabled Vet rebate also under new plan?

If they file a joint return it will be based on the joint return
information. There's no need that both spouses have taxable income in order
to receive the full amount.

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Phil Marti
Clarksburg, MD

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Billy · Joined: 28 Aug 2007 Posts: 9

"Phil Marti" wrote in message $qw4.44@trnddc02...
> "Billy" wrote:
>
>> If one person is a disabled Veteran and spouse is working, can they
>> collect the 2 rebates plus the disabled Vet rebate also under new plan?
>
> If they file a joint return it will be based on the joint return
> information. There's no need that both spouses have taxable income in
> order to receive the full amount.
>
> --
> Phil Marti
> Clarksburg, MD
>Not clear on ans. Will the disbled Vet get both pmts? Thus making 3 pmts
>to the couple?

tks

bw

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Harlan Lunsford · Joined: 25 Aug 2007 Posts: 790

Phil Marti wrote:
> "Billy" wrote:
>
>> If one person is a disabled Veteran and spouse is working, can they
>> collect the 2 rebates plus the disabled Vet rebate also under new plan?
>
> If they file a joint return it will be based on the joint return
> information. There's no need that both spouses have taxable income in order
> to receive the full amount.
>
But it IS necessary that they have "qualified income." And that is the
usual income items on a tax return, plus untaxed social security and VA
benefits which don't even appear on the tax return.

Just how IRS is going to administer this is tricky though.

Presumably in a case like this they will issue the rebate based on
return data and then (after October 15th -youknowwhatthatis) will adjust
with reference to the VA database.

That's the way the law is written, that qualified income includes VA
benefits.

But.... we'll see.

ChEAr$,
Harlan Lunsford, EA n LA

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Phil Marti · Joined: 25 Aug 2007 Posts: 2520

"Billy" wrote:

>> If they file a joint return it will be based on the joint return
>> information. There's no need that both spouses have taxable income in
>> order to receive the full amount.

>>Not clear on ans. Will the disbled Vet get both pmts? Thus making 3 pmts
>>to the couple?

No. Assuming no children under 17, the couple will get a maximum of $1200
and a minimum of $600. That minimum requires $3000 of one spouse's earned
income and $3000 of the disability pension.

Nothing has been announced yet about how people who don't have to file tax
returns will be identified. In the meantime, if you file a joint return and
the Income Tax after Credits is at least $1,200 on your 2007 return, you'll
get $1,200.
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Phil Marti
Clarksburg, MD

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Andrew · Joined: 25 Aug 2007 Posts: 38

Phil Marti wrote:
>

Phil (or others) - I've seen $300 per person minimum and $600 also throw
about. What determines whether or not you get more than the $300 (for a
minimum of $3,000 income from last year, or something to that effect?)

Wondering about my child who started her working life in t/y 2007 and is no
longer my dependent. How can we tell how much SHE will get as a single
individual
(Does make considerably more than $3,000 if 2007). I've looked at online
resources, and can't see where this is stated.

Thanks!

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Regards -

- Andrew

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Billy · Joined: 28 Aug 2007 Posts: 9

"Harlan Lunsford" wrote in message $K27.59885@bignews6.bellsouth.net...
> Phil Marti wrote:
>> "Billy" wrote:
>>
>>> If one person is a disabled Veteran and spouse is working, can they
>>> collect the 2 rebates plus the disabled Vet rebate also under new plan?
>>
>> If they file a joint return it will be based on the joint return
>> information. There's no need that both spouses have taxable income in
>> order to receive the full amount.
>>
> But it IS necessary that they have "qualified income." And that is the
> usual income items on a tax return, plus untaxed social security and VA
> benefits which don't even appear on the tax return.
>
> Just how IRS is going to administer this is tricky though.
>
> Presumably in a case like this they will issue the rebate based on return
> data and then (after October 15th -youknowwhatthatis) will adjust
> with reference to the VA database.
>
> That's the way the law is written, that qualified income includes VA
> benefits.
>
> But.... we'll see.
>
> ChEAr$,
> Harlan Lunsford, EA n LA
>
>That was my point, VA disability income isn't reportable, so the IRS will
>send recipients checks based on VA status and want to know if that makes a
>3rd check for the married couple without children?

Time will tell.

bill

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Billy · Joined: 28 Aug 2007 Posts: 9

"Phil Marti" wrote in message $0B2.8205@trnddc03...
> "Billy" wrote:
>
>>> If they file a joint return it will be based on the joint return
>>> information. There's no need that both spouses have taxable income in
>>> order to receive the full amount.
>
>>>Not clear on ans. Will the disbled Vet get both pmts? Thus making 3 pmts
>>>to the couple?
>
> No. Assuming no children under 17, the couple will get a maximum of $1200
> and a minimum of $600. That minimum requires $3000 of one spouse's earned
> income and $3000 of the disability pension.
>
> Nothing has been announced yet about how people who don't have to file tax
> returns will be identified. In the meantime, if you file a joint return
> and the Income Tax after Credits is at least $1,200 on your 2007 return,
> you'll get $1,200.
> --
> Phil Marti
> Clarksburg, MD

A whole lotta poeple dont pay much in tax after the credits, based on your
response, they won't see a dime even though they work. Child Tax Credit and
EIC wipe out a lot of liability.

bill

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Phil Marti · Joined: 25 Aug 2007 Posts: 2520

"Billy" wrote:

> A whole lotta poeple dont pay much in tax after the credits, based on your
> response, they won't see a dime even though they work. Child Tax Credit
> and EIC wipe out a lot of liability.

My response was to you, not to people whose liability is wiped out by the
Child Tax Credit and EIC. People with zero income tax after credits EXCEPT
CTC and all refundable credits, including EIC, will get the $300 minimum if
they have the $3,000 of qualifying income.

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Phil Marti
Clarksburg, MD

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Phil Marti · Joined: 25 Aug 2007 Posts: 2520

"Andrew" wrote:

> I've seen $300 per person minimum and $600 also throw about. What
> determines whether or not you get more than the $300 (for a minimum of
> $3,000 income from last year, or something to that effect?)

You start with income tax after credits except the child tax credit. If
that amount is $600 or more ($1200 on a joint return), you get $600/$1200.
If it's less, you get only the amount of tax after credits, but no less than
$300 if you have $3,000 of qualifying income.

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Phil Marti
Clarksburg, MD

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Condor · Joined: 25 Aug 2007 Posts: 49

> Time will tell.
>
> bill

See CNNMoney.com Rebates: What you need to know

http://money.cnn.com/2008/02/08/pf/taxes/rebates_what_you_need_to_know/index.htm?postversion=2008020817

Condor

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Phil Marti · Joined: 25 Aug 2007 Posts: 2520

"Condor" wrote:

> See CNNMoney.com Rebates: What you need to know

And one significant piece of misinformation. CNN says that to get a rebate
check you MUST file a 2007 tax return. I've seen nothing official that
confirms that.

I'm still waiting to hear something official about how people who qualify
for a check but are not required to file a 2007 return will be identified.
My thought is that FMS should do it since they know who's getting SS and
Veterans' benefits.

I've seen something in the press about SSA and VA sending out a form for
people to file with IRS, which makes no sense, which may be why that's the
way they'll go. A double benefit of this approach is that it would open the
door for phishers to send "official" notices requesting information,
including the bank account information that our super-efficient current
administration wants since it's pushing the idea of direct deposit of the
checks, again according to press reports.

I've been in Washington too long to believe anyone will really think this
through, especially with Congress pounding at the gates to get the cash to
the people in time for the election.

In any case, people who are not required to file a 2007 return should hold
tight and await further developments. And they should be extra careful who
they send any kind of information to, stopping to think, "Wait a minute.
Don't they already have this information?"

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Phil Marti
Clarksburg, MD

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Andrew · Joined: 25 Aug 2007 Posts: 38

Phil Marti wrote:
> "Andrew" wrote:
>
>> I've seen $300 per person minimum and $600 also throw about. What
>> determines whether or not you get more than the $300 (for a minimum
>> of $3,000 income from last year, or something to that effect?)
>
> You start with income tax after credits except the child tax credit. If
> that amount is $600 or more ($1200 on a joint return), you get
> $600/$1200. If it's less, you get only the amount of tax after
> credits, but no less than $300 if you have $3,000 of qualifying
> income.
> --
> Phil Marti
> Clarksburg, MD

Ah, thanks Phil. Appreciate it.

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Regards -

- Andrew

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Alan · Joined: 12 Oct 2007 Posts: 93

Phil Marti wrote:
> "Condor" wrote:
>
>> See CNNMoney.com Rebates: What you need to know
>
> And one significant piece of misinformation. CNN says that to get a rebate
> check you MUST file a 2007 tax return. I've seen nothing official that
> confirms that.
>
> I'm still waiting to hear something official about how people who qualify
> for a check but are not required to file a 2007 return will be identified.
> My thought is that FMS should do it since they know who's getting SS and
> Veterans' benefits.
>
> I've seen something in the press about SSA and VA sending out a form for
> people to file with IRS, which makes no sense, which may be why that's the
> way they'll go. A double benefit of this approach is that it would open the
> door for phishers to send "official" notices requesting information,
> including the bank account information that our super-efficient current
> administration wants since it's pushing the idea of direct deposit of the
> checks, again according to press reports.
>
> I've been in Washington too long to believe anyone will really think this
> through, especially with Congress pounding at the gates to get the cash to
> the people in time for the election.
>
> In any case, people who are not required to file a 2007 return should hold
> tight and await further developments. And they should be extra careful who
> they send any kind of information to, stopping to think, "Wait a minute.
> Don't they already have this information?"
>

If you start to think this through you quickly come to a
conclusion that it is a mess that requires careful thought and
the ability for various computer systems to communicate with each
other. For example, many people who receive SSA & VA benefits
have other income and file tax returns. The rebate based on a
filed tax return could be larger than the $300 rebate under the
qualified income rule. Some of these people are dependents on
another taxpayer's return. Dependents are not eligible for a rebate.

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Harlan Lunsford · Joined: 25 Aug 2007 Posts: 790

Phil Marti wrote:
>
>
> I'm still waiting to hear something official about how people who qualify
> for a check but are not required to file a 2007 return will be identified.
> My thought is that FMS should do it since they know who's getting SS and
> Veterans' benefits.

(balance snipped..)

The bill as passed does contain an appropriation for both SSA and VA in
order to "administer" their part of the program.
So that tells me that those records will be consulted in the absence of
actual tax returns for 2007.

ChEAr$,
Harlan Lunsford, EA n LA

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