Fema Employment
Stimulus Rebate Question?
I worked for 1 month in 2007 and lived off Virginia uninsurance benifits from September to December earning 4116. My 1 month of actual employment, I earned 1416. I have been living off a next egg and have been trying to start my own business since October. My question is: Can I count my total 2007 UI wages (4116) as part of my Federal Wages earned. I did get a 1099G Form for UI Benifits. The stimulus bill says I need 3000 in Federal Wages to qualify. I can see that the federal goverment counts social security as part of eligable wages. My UI Benifits plus 1 working month puts me above 3000. Can I count UI Benifts as Federal Wages
Public Comments
- No, sorry, UI doesn't count toward the $3000 minimum income to be eligible. Eligible income is earned income, social security, railroad retirement, and VA disability benefits.
- You need $3000 in "qualifying income". UI does not count. For the purpose of the stimulus payments, "qualifying income" consists of earned income such as wages and net self-employment income as well as Social Security or certain Railroad Retirement benefits and veterans’ disability compensation, pension or survivors’ benefits received from the Department of Veterans Affairs in 2007. If you do not have $3000 in qualifying income, you will be ineligible for the rebate, but you may still benefit under the plan. While the rebate depends on your 2007 status and income, it is actually a rebate toward your 2008 taxes. According to the Economic Stimulus Act of 2008, taxes would be cut in 2008 from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers. So if you have taxable income in 2008, you will see a tax cut when you file in 2009.
