Tax Rebate Question??

Hello Everybody,

I am hoping that somebody can answer my question for me about this tax rebate that they were talking about all day on Thursday.

I see they are saying that an individual taxpayer would receive a refund up to $600 dollars, working couples a refund of up to $1,200 dollars, and an additional refund of $300 dollars for each child. And that workers who made at least $3,000, but don't pay taxes get a $300 dollar rebate.

So does this mean that people who pay taxes to the IRS, as well as house/property taxes and stuff???

My husband and I are "renters", so we pay no house/property taxes and pay no taxes to the IRS, only whats taken out of our paychecks.

So does this mean that we won't be getting a $1,200 rebate, only a $300 dollar rebate?? Will we still get the $300 per child rebate for each of our 3 children, or we won't be included in that either because we pay no taxes because we rent??

The way they were making it out on the news last night was that EVERY couple who made at least $3,000 last year was getting $1,200 dollars, plus $300 dollars per child. But now this morning in my morning paper it says that this is only for people who pay taxes to the government.

So here we are, all of last night, thinking that we are going to be getting a $2,100 dollar check in the mail, and now it looks like we are only going to get $300?????

So I take it, that if you are a "renter" who rents an apartment or a house, that you are only going to get $300?? But do you still get the $300 per child???

Any info. on this would greatly be appreciated!!!

Thanks!

What's taken out of your paychecks is taxes paid to the IRS.

Do you file a tax return every year? On your tax return, you calculate how much tax you owe on your income, and then you subtract what was already withheld from your paychecks during the year. If what's left is a positive number, then you have to pay additional tax with your return. If it's a negative number, then that means that too much was withheld and you get a refund. If it's zero, that means that exactly the right amount was withheld and there's no refund or payment. This doesn't happen very often, if for no other reason than because Congress seems to delight in changing the tax laws every year so it's impossible for one's withholding to be completely accurate.