Economic Stimulus Plan
Posted by moonimus on Feb 14, 2008
I just read a solid FAQ in the Wall Street Journal on the tax credit that we should expect in the spring. We would receive $1,500 since we are married filing jointly, we have one child and our AGI is nowhere near the $150,000 threshold for married filing jointly. There are phaseouts for single and married returns. Single filers with AGI of $87,000 are completed phased out of the credit and married filers with AGI of $175,000 would also be completely phased out.
On top of our surprising tax refund, this rebate will definitely be used to fund a Roth IRA. Too bad Taxcut has still yet to fix the problems on our state return.
