Will I still get the IRS Stimulus Bonus in May, even though my parents claimed me on their tax return?

January 19, 2009 by  
Filed under Questions & Answers

lilsam2662 asked:


I am a full time college student and my parents claimed me on their return. I filed one too. What matters?

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Comments

4 Comments on "Will I still get the IRS Stimulus Bonus in May, even though my parents claimed me on their tax return?"

  1. mikel0626 on Thu, 22nd Jan 2009 1:16 pm 

    What matters is that your parents claimed you. Because they can claim you on their tax return, you are not eligible to receive a stimulus payment.

  2. nebraska_mom on Fri, 23rd Jan 2009 3:40 am 

    It depends on what you made $ wise. If you google tax rebate it will answer your questions. But I just heard on the news this morning that if you do direct deposit on your return, you will get your rebate faster (early to mid May). Try the google site and I hope that it answers you questions, if not you should be able to call a local tax company (hr block) maybe and they can give you an answer. Good Luck.

  3. Judy on Sun, 25th Jan 2009 9:45 pm 

    No, dependents aren’t eligible. But you will get the benefit next year of a one-time tax cut if you would owe any tax next year.

  4. Richard M on Mon, 26th Jan 2009 7:00 pm 

    If your parents claim you as a dependent, you will be ineligible for the rebate, but you 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 you have taxable income in 2008, you will see a tax cut when you file in 2009.

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