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Submitted 110 days ago...

Bagger845

New User (2)

My husband and I are both on pension and social security we did not earn any other money in 2007.

I got a letter today explaining why we only received 600.00 for our stimulus payment. I thought every grown up was supposed to get 600.00 and 300.00 for each exemption. Is that correct, or is that wrong. I cannot understand how it got figured out because it is very hard to understand the explanation. Our adjusted gross income was 14,366, I took off the standard deduction for married filing jointly which was 10,700, the exemptions x 2 was 6,800. So that leaves us a balance of 0 tasxable income. The amount that we paid in for federal tax in 2007 1,920, so we got that amount refunded back to us. Can you explain in plain english the reason for the 600.00?

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Answer 1 / 2

Submitted 88 days ago...

Fakery

Brain (2,103)

The reason you only got $600 was $300 for each person because you didn't have enough taxable income to qualify for a full $600 each.

it is very misleading how they announced each person gets $600, except the fine print makes it alot harder to actually get a full $600. Alot of people didn't get the full $600 per person like they were hoping and counting on.

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Answer 2 / 2

Submitted 82 days ago...

Bagger845

New User (2)

I guess I'll get hold of someone that does taxees for a living. I believe the amount we got was right. but it's hard to understand the way they print it in the letter. What is taxable liabiity?

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