2008 Woodie Awards
Rebate wont affect most students
Jessica Bernhardt
Issue date: 2/13/08 Section: Campus Life
If you're filing taxes this year you'll see an added bonus later this spring.
The package includes rebates of $600 for individuals and $1,200 for couples plus an additional
$300 for each dependent. Those who paid no income tax but earned at least $3,000, including
through Social Security or veterans' disability benefits, will get a $300 rebate.
So how does this affect college
students?
Lyle Weinert, local certified public accountant, said most students will not get a rebate.
"The rebates will be paid to those who file 2007 tax returns.
The amount of each rebate depends on a taxpayer's filing status and the number of dependents claimed on the tax return.
"Most traditional college students
are claimed as dependents on their parents' tax returns and their parents will receive the rebate
rather than the students. A student who is not claimed as a dependent on someone else's tax return and who files a 2007 tax return will receive a rebate subject to certain minimum income
requirements," Weinert said.
Students who might be eligible
for the rebate may include married students and non-traditional
students.
An economic stimulus package
has been approved by Congress and is expected to be signed by President Bush this week. The $168 billion economic
resource package is anticipated
to keep the American economy growing.
Some students question the package.
Amy O'Crowley, nursing senior, said, "I'm skeptical as to if it's going to stimulate the economy or not. But I like the idea."
Vanessa Hermes, nursing senior,
is indifferent. "Although I do think it's going to stimulate the economy, I think it's going to backfire."
Weinert is not sure how effective
the rebates are for stimulating
the economy.
"If the economy is currently in a recession then I question how the rebates will move the country
The package includes rebates of $600 for individuals and $1,200 for couples plus an additional
$300 for each dependent. Those who paid no income tax but earned at least $3,000, including
through Social Security or veterans' disability benefits, will get a $300 rebate.
So how does this affect college
students?
Lyle Weinert, local certified public accountant, said most students will not get a rebate.
"The rebates will be paid to those who file 2007 tax returns.
The amount of each rebate depends on a taxpayer's filing status and the number of dependents claimed on the tax return.
"Most traditional college students
are claimed as dependents on their parents' tax returns and their parents will receive the rebate
rather than the students. A student who is not claimed as a dependent on someone else's tax return and who files a 2007 tax return will receive a rebate subject to certain minimum income
requirements," Weinert said.
Students who might be eligible
for the rebate may include married students and non-traditional
students.
An economic stimulus package
has been approved by Congress and is expected to be signed by President Bush this week. The $168 billion economic
resource package is anticipated
to keep the American economy growing.
Some students question the package.
Amy O'Crowley, nursing senior, said, "I'm skeptical as to if it's going to stimulate the economy or not. But I like the idea."
Vanessa Hermes, nursing senior,
is indifferent. "Although I do think it's going to stimulate the economy, I think it's going to backfire."
Weinert is not sure how effective
the rebates are for stimulating
the economy.
"If the economy is currently in a recession then I question how the rebates will move the country
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