Sensible Cents for Singles

Anonymous

Jay...I missed seeing this earlier. Did you file yourself? Is it possible that you made a mistake? That is completely wrong!!! I hope that you can make contact with someone @IRS....there has to be some recourse!

~Marin

Jaybird627

Marin, I had H & R Block do my taxes and they're correct but why I only got $300 for myself (at my low salary!?) is beyond me. I may try to call the IRS later this week but have no hopes of them picking up the phone let alone them giving me another $300!

ps123

Here's (hopefully!) a link to help estimate the amount of your stimulus payment:

 http://www.irs.gov/app/espc/

Also from the IRS website (IRS.gov)

Q. I received my stimulus payment, but it was less than what my friends and neighbors received. Why?

A. Your economic stimulus payment will be based on information provided on your 2007 income tax return.

Many, but not all, taxpayers qualify for the maximum basic payment of $600 for singles or $1,200 for married couples. Many parents are also receiving an additional $300 for each qualifying child, born after Dec. 31, 1990.

Your payment may be less than the maximum for one or more of the following reasons:

• You are single and your net income tax liability is less than $600. If you file Form 1040 net income tax liability is the amount shown on Line 57, plus the amount on Line 52.
• You are married and your net income tax liability is less than $1,200.
• You are single and your adjusted gross income (AGI) is more than $75,000. On Form 1040, AGI is the amount on Line 37.
• You are married filing a joint return and your AGI is more than $150,000.
• You owe back taxes.
• You have non-tax federal debts such as unpaid student loans or child-support obligations.

Around the same time you receive your payment, you will receive a notice from the IRS explaining how your payment was figured. It is important to keep this notice as a record of your economic stimulus payment. In addition, you'll get a separate notice if you owe back taxes or non-tax debts.

The " Stimulus Payments: Answers to Frequently Asked Questions" section of this Web site has further details on how these payments are figured.

Pat

Anonymous

Jay...Just to confirm how much you're getting and when, try plugging your info in here:

https://sa2.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp

It told me exactly the amount and the date it is supposed to be mailed.

Maybe you're only getting $300 because of the amount of your tax liability?

~Marin

Jaybird627

That's probably it, Marin. I don't exactly understand tax liability but I do know that my taxes were done correctly.

cmharris59

HI all,

I am 49 and before BC had a promising career. I had just gotten a promotion the year before - 2006. The company was going to send me to Paris in May 08 ( I never got the trip because by then I was on long term disability). I had savings, 3 cars, 2 motorcycles, a house in the historic district on the main drag, clothes for  every occasion and then some - belly dance costumes, renaissance costumes, formals, cruisewear you name it, I had a decent portfolio for retirement and my credit rating was stellar. I have never married, but been engaged 5 times and have no children.

The weekend before dx I loaned my newest car and only one with an automatic transmission to my niece. The engine seized up on her mini van when her oil pump died. So this was a semi-permanent situation at least. 

After dx, I maintained everything - business as usual - until I had to go on long term disability. This meant that I was now unemployed. My disability from my company is exceptional though and I have not really suffered a decrease in pay. However, I did the splurge shopping and have to admit I still get caught up in the shopping til I feel better mode.

I took money out of my 401K right after I was terminated and bought a new car; paid cash; and told my niece that she could have my other car for less than blue book value. I justify this purchase because I needed dependable transportation and an automatic because of all of the surgeries and treatments that I was facing.

Because my body shape has changed in many ways, I have had to buy lots of clothes to keep up with the changes. I have splurged on home decor and jewelry. I have had contractors in to do work on my house that I had not planned to have done for a few years. My attitude = The docs basically said I had a 5 yr warranty so I want to enjoy my  money. If I survive this then I will worry about the money later.

My former employers have assured me that I still have a job when and if I can come back to work. I just have to wonder if I will ever be able to handle the pressure and stress of that job again.  I suppose I will have to in order to pay off the mini splurges that I have put on credit cards LOL!

My new attitude is that I am not spending all of my money - I still have a decent savings account and I still have a great 401K ( I worry more about the economy than my "retail therapy" ). Right now, I am going to do whatever it takes to keep me sane thru this.