IRS Economic Stimulus Payment Checks – Questions
Today, April 28, 2008, IRS began sending out the economic stimulus checks. Over 130 million American households will receive the IRS economic stimulus payments.
Conditions apply in order to be eligible for an economic stimulus check. You must have had $3000 in income for 2007 and have filed a federal tax return for 2007.
The IRS has a special page on their website that addresses the issues of those who normally do not file a return. These return should have been filed by April 15, 2008, unless you received an extension.
To quote from the IRS website, you will not get a stimulus payment if:
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You don’t file a 2007 tax return.
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Your net income tax liability is zero and your qualifying income is less than $3,000. To determine your qualifying income, add together your wages, net self-employment income, nontaxable combat pay, Social Security benefits, certain Railroad Retirement benefits and certain veterans’ payments.
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You can be claimed as a dependent on someone else’s return (whether or not you actually are claimed as a dependent on someone else’s return). For example, this would include a child or student who can be claimed on a parent’s return. [Updated 4/15/08]
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You do not have a valid Social Security Number.
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You are a nonresident alien.
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You file Form 1040NR or Form 1040NR-EZ, Form 1040PR or Form 1040SS for 2007.
For more information on the economic stimulus checks, including frequently asked questions, and an Economic Stimulus Payment Calulator, go to IRS.gov
Tags: economic stimulus, federal tax return, form 1040nr, form 1040pr, income tax liability, irs gov, railroad retirement benefits, self employment income, social security benefits, valid social security numberLife Saving Tips
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