In most cases, payments will range from $300 to $600 for individuals and $600 to $1200 for joint filers. Taxpayers may receive $300 for each qualifying child. Payments could be less, depending on tax liabilty and Adjusted Gross Income. Phaseout reduction begins at $75,000 for single filers and $150,000 for joint filers. Examples of ways the Economic Stimulus Act of 2008 may affect taxpayers who are married, file a joint return and are either childless or do not have children who qualify for child tax credit payment: Married couple with no children, wages of $4,000, no federal income tax liability. Rebate is $600 Married couple with no children, no wages, veterans’ payments of $2,000, social security benefits of $2,000, no federal income tax liability. Rebate is $600 Married couple with no children, no wages, no social security benefits, veterans’ payments of $4,000, no federal income tax liability. Rebate is $600 Married couple with no children, no wages, no social security benefits, no veterans’ payments, AGI is $20,000, federal income tax liability is $250. Rebate is $600 Married couple with no children, AGI is $25,000, federal income tax liability is $750. Rebate is $750 Married couple with no children, AGI is $60,000, federal income tax liability exceeds $1,200. Rebate is $1,200 Married couple with no children, AGI is $160,000, federal income tax liability exceeds $1,200. Rebate is $1,200 Phaseout reduction is ($500) TOTAL is $700 Related Items: Information on Stimulus Payments Married with Children Single (Head of Household) with Children Single without Qualifying Children
