So you might be applauding the approved 2008 Economic Stimulus Plan where you can get back some money from the government. Wondering how much money you’d be getting back? Here’s a calculator courtesy of PBS News Hour.
EDIT: Many are reporting that the calculator doesn’t work for them. PBS apparently has not fully tested the code and hasn’t updated since.
If you want to compute it manually here are some important things to note via Bargaineering:
Singles
Determine Eligibility:If you earned less than $3,000 - unfortunately you’d get nothing.
If you earned more than $3,000 but paid no taxes, you’d get $300.
If you earned more than $3,000 and paid taxes, you get $600.
If you have children, add $300 per.
Determine Phaseout Reduction:
The phaseout levels begin at $75k and end at $87k, at a reduction of 5% per $1,000 over the lower limit. If you earn above $87k, you’re over and thus get nothing regardless of the math.
CouplesDetermine Eligibility (appears to be the same as singles):
If you earned less than $3,000 - unfortunately you’d get nothing.
If you earned more than $3,000 but paid no taxes, you’d get $600.
If you earned more than $3,000 and paid taxes, you get $1,200.
If you have children, add $300 per.Determine Phaseout Reduction:
The phaseout levels begin at $150k and end at $174, at a reduction of 5% per $1,000 over the lower limit. If you earned above $174k, you’re over and thus get nothing regardless of the math.
4 Responses
Shannon
February 7th, 2008 at 5:49 pm
1Something’s amiss here - every other reference/newscast indicates individuals will receive $600.00, with $300 per child, not “up to”… This calculator has me at only $600.00 but according to cnn.com that figure is $900.00…
Chris
February 8th, 2008 at 8:10 pm
2The calc seems to have a problem. Individuals get 600$ (<$75 GAI) and couples get $1200 (<$150K joint GAI). This is not reflected in the results. ???
Lisa B.
February 9th, 2008 at 6:37 am
3I am a developer & I also had issues with this code. After many failed attempts it does work in 3rd party html editors. That doesn’t help. So what I did was went to my main HTML Editor that holds all website files & inserted it in the Main BODY. Save the file & it will appear on that page. You will be able to edit the page itself from there. Hope ths helps:)
Ollie Carroll
February 26th, 2008 at 8:01 pm
4If you have a balance due for your 2007 tax teturn, will you keep the rebate to cover the balance due?
Will you automatically direct deposit your refund in a bank account or will you have to provide that information prior to May 2008 if you did not have a refund?
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