Quiz: The Ultimate Tax Rebate Quiz
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The Ultimate Tax Rebate Quiz
By: Staff
Image: refer to hsw

About This Quiz

The U.S. government created a Stimulus Act in 2008 in preparation for the looming recession. What did it entail? Who benefited? What was it for? Wrap your head around these tax facts and figures and take this not-too-taxing quiz.

The IRS sent two letters: one covered the Economic Stimulus Act of 2008, while the other was a confirmation of eligibility for a rebate.

2.0 of 15
What was the aim of the Bush administration in creating the Economic Stimulus Act of 2008?

The Bush administration's aim was to encourage consumer spending at a time of looming recession.

3.0 of 15

This was the clear advantage of the tax rebate -- it was not taxable, whereas a tax refund was.

Economists were of the opinion that long-term measures were needed in order to boost investment and business growth.

According to the IRS, the taxpayers had to have a valid Social Security number, a $3,000 income and a 2007 filed tax return.

6.0 of 15
Under the 2008 Stimulus Act, if you wanted to claim children under 17, what did they have to have?

Children under 17 were required to have a valid Social Security number.

7.0 of 15
Was a taxpayer living in a U.S. territory, such as Guam, eligible for the 2008 tax rebate?

Mostly, yes. Even those living in Guam and other territories were eligible.

The AGI is a figure derived from one's taxable income after certain deductions have been made.

9.0 of 15

Tips, some railroad benefits and wages counted; rental real estate income, pension income and SSI didn't.

10.0 of 15
What was the 2008 tax rebate figure for married taxpayers who filed jointly?

Married taxpayers with joint tax returns got a $1,200 rebate.

11.0 of 15
Under the 2008 Stimulus Act rebate terms, how much could you claim for each dependent under the age of 17?

Each dependent under 17 entitled the taxpayer to a $300 rebate.

12.0 of 15
The IRS tax rebate checks of 2008 were deposited on different dates depending on:

The checks were deposited according to your Social Security number.

The check deposit date went according to the Social Security number of the first person filed on the tax return.

14.0 of 15
Did it make a difference if you were an "early bird" and filed your tax return early?

Whoever sent in a tax return early was processed earlier by the IRS.

15.0 of 15
During what months of 2008 were the tax rebate checks sent?

The checks were mailed from May through July of 2008.

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