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Stimulus Package For College Students

Floyd Said:

Stimulus package for College students this year?

We Answered:

no. college students are suppose to be poor.

Penny Said:

I'm a college student, but my parents didn't claim me as a dependent, can i get the $600 Stimulus Package?

We Answered:

Being a college student is not the only test for whether you are a dependent. You must also be under 24, not provide for more than half of your support and live with your parents (which includes temporary absenses to go to school) for more than half of the year.

However, from a practical standpoint, if your parents do not claim you and you claim yourself, it is unlikely that the IRS will dispute the claim.

If you cannot be claimed as a dependent, the tax rebate is based on your 2007 earnings and Federal Income Tax liability.

You would be eligible to receive a rebate of up to $600 if you paid that much in Federal Income Tax. If you only paid $350 in taxes (less than the $600 rebate limit), you only get back $350. If you had earned income or social security of at least $3000, you would get at least the minimum rebate of $300.

Use the Kiplinger rebate tax calculator (link below) to compute your rebate.

Ron Said:

Do I qualify for the government stimulus package?

We Answered:

How many times does this have to be answered? A DEPENDENT IS NOT ELIGIBLE FOR A STIMULUS PAYMENT!!!!! And if you are over age 16 as of the end of 2007, your mom won't get anything extra for you. So NEITHER. You won't get $600, or even the minimum $300, and your mom won't get an extra $300.

Derrick Said:

Remember Obama's stimulus Package includes more funding for College grants?

We Answered:

I feel your pain, bro. Obama can claim he has different views on taxes. He hides them well. What his thinking is to narrow to account for is that every time something is taxed, the price is increased and passed on to the consumer. All of these taxes he is proposing "on the rich" will be passed on to us in the Middle Class that have been the backbone of this country from the begining. WHY?
The rich own the businesses and corporations that are being taxed and they are passing them on to their consumers. They are intelligent enough not to pay them. LOL

Bessie Said:

No Stimulus payment for working college student?

We Answered:

Because that's the way they wrote the rule. I agree it doesn't make sense.

But while your son will be ineligible for the rebate, he may still benefit under the plan.

While the rebate depends on your 2007 status and income, it is actually a rebate toward your 2008 taxes. According to the Economic Stimulus Act of 2008, taxes would be cut in 2008 from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers.

So if he has taxable income in 2008, he will see a tax cut when he files in 2009.

Leonard Said:

will i be getting a stimulus package check from the government?

We Answered:

If your parents claimed you as a dependant on their taxes then you do not qualify and they do not qualify.

If they did not claim you and you claimed yourself you will qualify for a rebate but it should be reduced by the amount you owe. If you have not filed yet you will not get a check. If you have only filed an extension you will not get a check.

Heather Said:

Does anyone know the amount made to decide the 300 or 600 in the stimulus package?

We Answered:

Wrong. According to the bill as it was passed, a dependent doesn't get a rebate.

That aside, determining which eligible people get $300 and which get $600 or somewhere in between, it depends on how much tax was paid, not on income. The maximum credit is the person's net federal income tax liability for the year.

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