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How to Receive Your Economic Stimulus Rebate-Filing Requirements
By Larry Weinstein, CPA | February 25, 2008
There is much talk and anticipation going around about the Economic Stimulus Rebates that are going to be given out.
This year there are many taxpayers, who while not obligated to file a tax return (and perhaps haven’t for many years) such as Social Security recipients, should definitely file one this year, in order to participate in this program.
Individuals who might not otherwise be required to file a 2007 tax return will need to file a return this year to receive the stimulus payment. The return must show at least $3,000 in qualifying income.
In most cases, payments will range from $300 to $600 for individuals and $600 to $1200 for joint filers. Taxpayers may receive $300 for each qualifying child.
See http://www.irs.gov/irs/article/0,,id=179096,00.html for the whole story from the IRS.
Topics: tax |