How do I know how much income tax I actually paid to the Fed?
Okay, I already filed my taxes, and I am getting a refund, but that is because I have deductions and kids and I overpaid. Because of the economic stimulus package, I want to be sure I paid at least $600 in taxes to get the full rebate. Since I don’t have a copy of my 1040 in front of me, can’t I just look at the IRS tax sheet to see how much taxes I owed according to my income and go by that? Or would that be incorrect since I had deductions etc?
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September 1st, 2010 at 9:31 am
That would be incorrect. Look at your 1040.
September 1st, 2010 at 10:24 am
Actually, the $600 isn’t based on how much taxes you paid in 2007. Don’t worry, you will get it, and actually more because you have children.
I am not sure why someone gave me a thumbs down when I am right. Even people who don’t pay taxes but earn income get the $600 rebate. You will get an additional $300 for each child you claim. Here is a source: