How Do I Get My Stimulus Package Rebate?
Congress recently passed The Economic Stimulus Act of 2008, which will provide tax relief payments for more than 130 million American households with qualifying income of $3,000 or more. Individuals will receive a payment of $300 or $600 and married couples who file a joint return will receive a credit of $600 or $1,200. Eligible taxpayers may receive an additional $300 for each child under the age of 17 as of December 31, 2007. Some taxpayers are eligible for a small credit or no credit. The payments will be made starting in May 2008, but you must file a 2007 tax return to receive your payment.
Certain people who may not ordinarily file an income tax return, like seniors and disabled veterans, will need to file a tax return for 2007 to confirm their eligibility and to receive their stimulus payment from the government. Filing a tax return when you do not owe any taxes will not change your tax status and will not affect your Social Security or VA benefits. Social Security benefits and VA disability compensation, pension, or survivors' benefits count as qualifying income.
I encourage you to check out some very helpful information the government recently released on how you can get your rebate:
* IRS Stimulus Information Center
* Basic Information on Stimulus Payments
* Economic Stimulus Payments: Information for Recipients of Social Security Benefits
* Economic Stimulus Payments: Information for Recipients of Veterans' Benefits
* Stimulus Payments: Instructions for Low-Income Workers and Recipients of Social Security and Certain Veterans' Benefits
* Helpsheet for people who didn't file a tax return in 2007
* IRS Economic Stimulus page
* Stimulus Package FAQs
Friendly Reminder: Taxes are due on April 15th.
John F. Kerry