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stimulus check

could some explain to me the stimulus check thing, how does it work? Do you get $1000 per child plus $1000 for being married? Please explain

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determind

Asked by determind at 3:21 PM on Feb. 1, 2009 in Politics & Current Events

Level 1 (0 Credits)
Answers (10)
  • What stimulus check?
    NotPanicking

    Answer by NotPanicking at 3:24 PM on Feb. 1, 2009

  • No. If you pay taxes everyone gets $1000 per child as a credit. A credit is lets say you make $32 a yr and have no kids. You would get a $500 tax credit as a single person and probably owe $500 so the credit cancels out what you ower. If you make too little and get EIC you would get another $1000 tax credit. So lets say you have 2 kids and make $17k and get EIC of $3000, you would add an additional $1000 tax credit making your return $4000 not $3000. However you wont get that back with this years taxes since most people have already filed. But we MIGHT get a check for what they *owe* us if its passed. Since it isnt passed it can change so it isnt set in stone. But basically no we wont get checks like we did under Bush. We will get credit.
    gemgem

    Answer by gemgem at 3:26 PM on Feb. 1, 2009

  • its not a stimulus check though it was part of the tax returns.. and though it was only if you owed money guess ill go back and look at it again
    Anonymous

    Answer by Anonymous at 3:26 PM on Feb. 1, 2009

  • No the way I read it it says everyone gets an additional $1000 credit regardless of income. That means low income families who do not pay taxes would get the credit, basically as an overpayment so theyd get what they paid in back plus $1000. Those who pay taxes would have it applied to what they owe and any remainder come back.
    But again its getting ahead of ourselves because it hasnt even been signed and that can and probably will change and not affect our 2008 returns at all. I have a feeling it wont go in as is but will be effective for 09.
    gemgem

    Answer by gemgem at 3:30 PM on Feb. 1, 2009

  • I guess i read it different cause i though i got passed friday//
    Anonymous

    Answer by Anonymous at 3:52 PM on Feb. 1, 2009

  • NO CHECKS ARE COMING. I repeat...no checks are coming. sheesh.
    Anonymous

    Answer by Anonymous at 4:04 PM on Feb. 1, 2009

  • Hello, Hello, Hello, Hello...How many times is this d*mn question going to be asked?? THERE WILL BE NO STIMULUS CHECKS... I repeat... THERE WILL BE NO STIMULUS CHECKS! There will be (supposedly) a $500 TAX CREDIT for those earning under $75,000 a year and a $1000 TAX CREDIT for those earning under $150,000 a year. TAX CREDITS are deducted from your overall taxes on your tax return. Personally I think the $500 and $1000 deals suck big time..especically when the Wall Street Moguls have received BILLIONS!
    LilLizaJane

    Answer by LilLizaJane at 8:12 PM on Feb. 1, 2009

  • The word stimulus does not equate a check..
    Anonymous

    Answer by Anonymous at 8:12 PM on Feb. 1, 2009

  • You need to clarify your question. Too many people losing their ever loving minds assuming what you are asking. :) Are you asking about the stimulus check that came last summer? Did you not get one? You can research how it was paid to everyone who was qualified and/or who had a return for 2007 at IRS.gov. :)
    lifeasinoit

    Answer by lifeasinoit at 10:16 PM on Feb. 1, 2009

  • We are NOT getting checks this time around, this stimulis is to do other things, I know because of last time we heard stimulis we all got checks but its not going to be that way this time around
    hautemama83

    Answer by hautemama83 at 11:38 PM on Feb. 1, 2009

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