Why would IRS short me $37 on my stimulus check?
It was supposed to be $600 but I only received $563. Does anyone know why this would happen? Thanks
A-Best: The rebate is "up to" $600. If your total federal taxes for 2007 (not just the amount due in April, but the total for the year) are less than $600, then your rebate is less than $600 -- but not less than $300. I'd bet your total taxes for 2007 were $563, which would make your rebate $563.
A: I don't think they're supposed to take taxes out of the rebate, are they? You might want to contact your local IRS office and ask them that. Either that or did you owe $37 in back taxes?
A: Consult your tax preparer.
A: If your tax liability (line 57 form 1040) was low then this would be the reason you received less than $600. My tax liability was ZERO and I received $884 vs $900.
A: You get UP TO $600 - the $600 is for people whose federal income tax liability for 2007 was at least that much. Otherwise you get the amount of the tax, with a minimum of $300 assuming that you qualify for the stimulus payment. It sounds like your tax was probably $563.
Either than, or you made over $75,000 for the year - above that, the payments are reduced, and quickly phase out to zero.