The payment was equal to the payer’s net income tax liability, but could not exceed $600 (for a single person) or $1200 (married couple filing jointly).

Did we have to pay back the stimulus in 2008?

Will I have to pay it back? No. And here’s why. Your stimulus payment is a one-time tax cut – an advance on a credit you’ll receive on your 2008 return.

What if I never received my 2008 stimulus check?

Check if the IRS owes you money To find out if a check wasn’t delivered to you, go to and click on “Where’s my stimulus payment.” You can also call the IRS at 1-866-234-2942.

Who qualified for 2008 stimulus check?

The stimulus check is a tax credit for the 2008 income tax year. The check is intended to spur economic activity. Am I eligible for a stimulus check? Generally, you are eligible if you file a 2007 income tax return reporting earned income, Social Security income, or disabled veterans’ benefits of more than $3,000.

What was the cost of the stimulus bill in 2008?

The total cost of this bill was projected at $152 billion for 2008. Tax rebates that were created by the law were paid to individual U.S. taxpayers during 2008. Most taxpayers below the income limit received a rebate of at least $300 per person ($600 for married couples filing jointly).

How did the stimulus affect tax refunds for 2008?

The IRS added together a $600 rebate for the parent and $600 for the two children to get $1,200, then subtracted the phaseout reduction of $750 ($50 for each $1,000 income above $75,000) to get $450. According to the IRS, the stimulus payment did not reduce taxpayers’ 2008 refunds or increase the amount owed when filing 2008 returns.

Who was affected by the Economic Stimulus Act of 2008?

In this case the entire family was ineligible for the economic stimulus rebate President Bush announced in 2008. At least one million legal residents and tens of thousands of troops were affected by the law, which was designed to keep illegal immigrants from getting stimulus checks. ^ “House Follows Senate in Approving Economic Stimulus Plan”.

When did the stimulus package start and end?

Note: the section below was originally published in 2008 and covers the 2008 economic stimulus package. It has been updated for historical purposes and for usability. Please see this page if you are looking for information on the 2020 stimulus checks during the coronavirus outbreak.