So I got my tax returns back from the accountant, and this is what I found in the client notes section:
“Your projected economic stimulus payment is $0 because you are ineligible for the rebate or your federal Adjusted Gross Income exceeds the economic stimulus payment AGI limits.”
!?!?!?
Let me repeat that.
!?!?!?!?!?!?
According to my understanding of the economic stimulus package, single filers with an AGI of $75,000 or under will generally receive $600.
I most certainly did NOT have an AGI of $75,000+ in fiscal year 2007.
The most likely explanation is that the accountant plain typed wrong. If so, I need not worry. According to the IRS website: “You do not need to calculate the amount of the stimulus payment. If you qualify, the IRS will automatically figure it and send it to you. The IRS will also send you a notice showing the amount of your payment. You do not need to call the IRS or fill out any other special forms.”
This is what I’m going to do: give Mr. CPA a call and sort this whole thing out. But I’m fairly confident that I WILL get a $600 check back and do my part for the good ol’ US economy.
Still. A call for my peace of mind won’t hurt.
I’m curious as to why you have an accountant, when you don’t itemize your taxes (or do you?). It’s really not that difficult until you get a house and have all those special notes and stuff to add/deduct.
I’m sure the note from the accountant was a mistake. I hope that’s the case.
Good luck with the accountant….I hope it was a simple mistake and very easy to clear up….
I’ll be interested to hear what you find out from your accountant. Good luck, I hope you get the money. 😉
1. I agree with Peachy: taxes are pretty easy, even the one year that I had worked in three different states.
2. That seems like a pretty serious mistake, one of those things that shouldn’t have passed the sanity check as he was typing it up. It may be time to switch accountants!
Were you able to be claimed as a dependent on your parents’ taxes for 2007? If you are, you aren’t eligible for the check, but you can claim it as a credit for your 2008 taxes, since you’re not longer a student and therefore no longer a dependent.