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The Ultimate Tax Rebate Quiz
by Staff
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.

What two letters were sent to people in the U.S. from the Internal Revenue Service (IRS) in 2008?

  • an explanation concerning tax refunds and a jury summons
  • an explanation of the Economic Stimulus Act of 2008 and confirmation of eligibility for a rebate
  • an explanation of the Economic Stimulus Act of 2007 and a letter from then-president George W. Bush

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

  • to generate more income per household
  • to return eligibility funds
  • to encourage consumer spending

What was the difference between a tax refund and the rebate offered under the 2008 Stimulus Act?

  • The tax refund was not taxable, unlike the tax rebate.
  • There was no difference; they were the same deal.
  • The tax rebate was not taxable, whereas the tax refund was.

What was the attitude of economists with the announcement of the 2008 Stimulus Act?

  • that long-term measures were needed to boost economic growth
  • that the U.S. government was on the path to economic ruin
  • that it would solve all the foreseeable economic woes

To be eligible for the 2008 tax rebate, the IRS required U.S. taxpayers to:

  • disclose all their income sources, file a tax return for that year and pay a nominal excess charge
  • have a valid Social Security number, a $3,000 income and a filed tax return for 2007
  • update their Social Security number, have a $4,000 income and file a tax rebate eligibility form

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

  • a high SAT score
  • a Social Security number
  • a valid driving license

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

  • in most cases, yes
  • no
  • only in rare instances, with special permission

What does the Adjusted Gross Income (AGI) refer to?

  • one's taxable income less certain deductions
  • one's taxable income plus the tax rebate figure
  • one's taxable income at the end of each fiscal year

Regarding income requirements for the 2008 tax rebate, which of these counted towards it?

  • supplemental security income (SSI) and self-employment income
  • rental real estate income and pension income
  • tips, some railroad benefits and wages

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

  • 1000
  • 1200
  • 1500

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

  • 300
  • 600
  • 900

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

  • bank clearance
  • your income bracket
  • the last couple of digits of your Social Security number

How was the check deposit date determined if the tax return was filed jointly?

  • It went according to the Social Security number of the first person filed on the tax return.
  • It went according to the Social Security number of the last person filed on the tax return.
  • It went according to alphabetical order. The person with the letter closest to "A" was the determiner.

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

  • depending on your state of residence
  • no
  • yes

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

  • March to May
  • May to July
  • July to September