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Economic Stimulus Payment Calculator March 27, 2008

Posted by Daniel Downs in income tax, IRS, news, taxes, wealth.
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Here is a user friendly economic stimulus payment calculator from the IRS. Before using the user friendly calculator, you will need the following:

  • Your 2007 Form 1040, Form 1040EZ, or Form 1040A available. You will be entering information from one of these forms.
  • Do not expect miracles; the result is just an estimate.
  • Do allow approximately 5-10 minutes to complete this tool.
  • Please answer all questions on each page.

Yes, the calculator is set up as a questionnaire much like a tax return. On the first page is 3 questions, they are intended to qualification whether you can be claimed as a dependent, whether you filing a joint return, and whether you and/or your spouse have social security numbers. The second page ask what type of tax return you are or will be filing i.e., 1040, 1040A, or 1040EZ. The third page consists of a series of questions. The first is rather stupid because it asks what was determined on the first page, which whether you are filing jointly, separately, or singly. After redundantly dumb question, there are a series of question taken directly from your income tax return form. The questions vary according to which type of return you are or are planning to use: 1040, 1040A, or 1040EZ–here we go with redundancy again. After you have completed the page, you click on the Continue button, and presto you are given an estimate tax-rebate cum economic stimulus-go-spend-it-all-to-boost-GDP-and-keep-favored-corporations-who make-billions-in-profits payments. Oh, yeh, and have a soda or cappuccino or whatever while you’re at it.

So why wait? Start calculating how much you are going to get from Uncle ‘Greenback” Sam by go HERE!

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Comments»

1. Dave Bell - May 16, 2008

We just received what was left of ours: “… based on 0 qualifying children.”
Huh? We have three dependent children, two of them under 17.
Ignoring the discrimination against the 17 yo, who earned ~$3600, but doesn’t qualify on her own, why were the two 15 yo’s DQ’d?!?
The calculator estimated exactly $600 more than we received.

Guess we’ll be calling the tax guy on Monday…

2. Daniel Downs - May 17, 2008

Sorry Dave! In another post I passed on the warning that some would not be getting all of their well earned green stimulus. I hope it doesn’t spoil your plans to buy more higher priced gas, food, and a round of cappucino/latte for the family. The government should be paying you and yours a lot more for making the world a more family friendly place.


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