Economic Stimulus Payment Notice

I used TurboTax and it had a section on this stimulus thing.  Because I used the foreign earned income exclusion I did not have the $3000 minimum and it said I would not get anything.  I imagine that'd be the case for most of us getting paid in UK.

You are right.

Good software will tell you before you file for 2007 what the 2008 refund will be.

I suggest using your software to run different scenarios before filing to see if you can increase the refund.

This involves reviewing the "mix" of deductions/credits/exemptions/exclusions etc to get the best result in tax terms - not just of 2007 -but also the 2008 tax refund thingy.

Sheesh!  What was the point in sending out the stimulus letter (overseas) if they're not going to give it to us?     We're required by law to fill out a tax return, yet when every other US citizen is given the stimulus, we're not?   

It does seem like a waste but they're probably legally obliged to get it to every taxpaying American.
It's especially silly as it's unlikely to do much for the American economy if we spend it in Britain!

Hey, I have credit cards still registerd in the US that I have my parents authorised on to make purchases on my behalf.  Not that I don't discourage them from gifting to us.     But, I do my fair share of helping the US economy - especially on vacation! 

Sheesh!  What was the point in sending out the stimulus letter (overseas) if they're not going to give it to us?    

Well it is certainly possible (in theory) for someone living overseas to qualify for the stimulus, if they've earned money in the US in  2007 or have other payments that qualify.  They just have no way of knowing until you file a return.

It is 100% possible for anyone living overseas filing a 1040 to qualify if income is within the limits.

If this means claiming less foreign earned income exclusion, fewer deductions etc then the stimulus refund might be increased.  These are the sort of "what if" scenarios you'd be looking at before you file the 2007 return...

It is 100% possible for anyone living overseas filing a 1040 to qualify if income is within the limits.

If this means claiming less foreign earned income exclusion, fewer deductions etc then the stimulus refund might be increased.  These are the sort of "what if" scenarios you'd be looking at before you file the 2007 return...

question- so claiming the foreign earned income exclusion is optional?

Correct - You might just want to bore your friends by quoting sections of the tax code after reading IR Code Section 911 and related Regulations before you elect/diselect claiming but it is certainly not mandatory to claim.

Many folks, especially those at lower levels of earnings with children, are much better off each year not claiming simply because of the refundable child credit.

Slightly old news, I know, but I've just been using the IRS Economic Stimulus Payment Calculator (http://www.irs.gov/app/espc/) and it does seem to have come out as straightforward as it should have.

I entered the total wages/salaries (all from U.K. sources), and then "0" under "Total Income" because of the foreign income exclusion. The AGR was also 0.

After all that, it told me that as married joint filers we could expect $600!

Ooh!

I just went to look at my US bank account online for something else, and found a $300 tax refund from the US treasury.

All of my earned income was from my UK salary, so yes we people living  outside the US do get something.

Ooh!

I just went to look at my US bank account online for something else, and found a $300 tax refund from the US treasury.

All of my earned income was from my UK salary, so yes we people living  outside the US do get something.

Congratulations, good to know!   

Did you use the Foreign Earned Income Exclusion?

Congratulations, good to know!   

Did you use the Foreign Earned Income Exclusion?

Yes. I had $0 total income after standard deduction was taken out.

Anyone else hear about people married to immigrant spouses (without SSN but filing jointly) being ineligible?

I read a blog for a UK immigrant living in the US and because he doesn't have a SS#, they are ineligible for the money.  His wife is a US citizen and they live in the US.

Not expecting the money but it sure would be nice.

I filed my tax return about 4 weeks ago so we'll see if anything happens.

~BEG