Originally posted by Imagrunt:
EVERY Federal Tax Filer for 2007 received a check, so before you tell everyone that your parents paid too much in taxes, make sure to confirm that they actually filed taxes for 2007.
Imagrunt, I believe you are incorrect on this point. After doing some calculations on the IRS website using their economic stimulus calculator, I received this message:
"According to law, the economic stimulus payment amount that you would otherwise be entitled to receive is reduced by 5% of the amount that your Tax Year 2007 Adjusted Gross Income exceeds $150,000. You would have been eligible for an economic stimulus payment of $900, but your AGI exceeds $150,000 by enough to reduce that amount to zero."
The AGI I used was $200,000. At $150,000 AGI, $900 would have been received in a stimulus check.
No offense intended, Sir.
If Colt is correct about his parents not receiving a stimulus check, it is because of their high income level.
