DALLAS, TEXAS
214 503-8563
Our 43rd Year Selling Texas Homes
For your conveinence and information, the following is how the IRX tax rebate has been scheduled to apply to individuals and their families, and how it is to be paid. (This is from an IRS publication, and since it is the source and interpretation, I don't warrant the information as accurate.
The check is in the mail!
Last 2 digits of your SSN Receive your check by week of
00 - 09 July 23
10 - 19 July 30
20 - 29 August 6
30 - 39 August 13
40 - 49 August 20
50 - 59 August 27
60 - 69 Sept. 3
70 - 79 Sept. 10
80 - 89 Sept. 17
90 - 99 Sept. 24
For married taxpayers who filed a joint return, the first Social
Security Number on the return determines the mailing date.
Source: InternalRevenue Service
FACT SHEET: EXAMPLES OF HOW THE ECONOMIC GROWTH PACKAGE WILL BENEFIT
Married with children:
1) Married couple with two children1, earned income of $4,000, no federal income tax paid.
Individual rebate = $600Child tax credit = $600
TOTAL = $1,200
2) Married couple with two children, earned income in excess of $3,000, AGI = $45,000, federal income tax is
$323.
· Individual rebate = $600· Child tax credit = $600
TOTAL = $1,200
3) Married couple with two children, AGI = $48,000, federal income tax is $773.
· Individual rebate = $773· Child tax credit = $600
TOTAL = $1,373
4) Married couple with two children, AGI = $80,000, federal income tax paid in excess of $1,200.
· Individual rebate = $1,200· Child tax credit = $600
TOTAL = $1,800
5) Married couple with two children, AGI = $160,000, federal income tax paid in excess of $1,200.
· Individual rebate = $1,200· Child tax credit = $600
· Phaseout reduction = ($500) [5% x ($160,000 - $150,000) = $500]
TOTAL = $1,300
1 All children referenced in the examples are qualifying children for purposes of the child tax credit.
Head of household with children:
1) Single parent with two children, earned income of $4,000, no federal income tax paid.
· Individual rebate = $300· Child tax credit = $600
TOTAL = $900
2) Single parent with two children, earned income in excess of $3,000, AGI = $38,000, federal income tax is
$433.
· Individual rebate = $433· Child tax credit = $600
TOTAL =$1,050
3) Single parent with two children, AGI = $60,000, federal income tax paid in excess of $600.
· Individual rebate = $600 · Child credit = $600
TOTAL =$1,200
4) Single parent with two children, AGI = $90,000, federal income tax paid in excess of $600.
· Individual rebate = $600 · Child credit = $600 Phaseout reduction = ($750) [5% x ($90,000 - $75,000)]
TOTAL = $450
Married, no children:
1) Married couple with no children, earned income of $4,000, no federal income tax paid.
· Individual rebate = $600
2) Married couple with no children, earned income in excess of $3,000, AGI = $20,000, federal income tax is$930. · Individual rebate = $9303) Married couple with no children, AGI = $25,000, federal income tax is $1,430.
· Individual rebate = $1,200
4) Married couple with no children, AGI = $160,000, federal income tax paid in excess of $1,200.· Individual rebate = $1,200· Phaseout reduction = ($500) [5% x ($160,000 - $150,000)]TOTAL = $700
Single, no children:
1) Individual with earned income of $4,000, no federal income tax paid.
· Individual rebate = $300
2) Individual with earned income in excess of $3,000, AGI = $10,000, federal income tax is $125.· Individual rebate = $3003)
Individual with AGI = $16,000, federal income tax is $725.
· Individual rebate = $600
· Phaseout reduction = ($250) [5% x ($80,000 - $75,000)]
TOTAL = $350
GOD Blesses!
