The Tax Resources Blog

Posts Tagged ‘federal’

Family Tax Credits Form

Question: Why is it that there are stipulations on this new tax “rebate”, gift, credit or whatever?

Now you had to have made a certain amount of income during the year, but what if you are under it? We are a family of 3 and according to the congress’s plan, we won’t qualify, because our income was not enough (SSI is not counted), so therefore we loose out, but a family that makes $100,000 will get around $1600-WHAT?!?! Why give to the rich, they sure in the **( are not giving to others- this is bull –in the highest form!

Answer: Part of what you are missing is that it is a “tax” rebate, so if you pay not tax your rebate is limited. It’s not just a general handout.

$8,000 First Time Homebuyer Tax Credit