As most people are aware by now, the IRS will be sending out one-time "economic stimulus payments" (often referred to as "rebates")
to taxpayers, beginning in May 2008.
How do I apply for the "stimulus" payment?
If you have already filed a tax return, you don't need to do anything more to get your "stimulus" payment from the IRS.
You will get your usual refund (including your EIC, if you qualify) soon after you file. Then you'll get your extra "stimulus"
payment in May, or later.
But what if I don't usually file a tax return?
Many people with very low incomes are not required to file a tax return.
However, you may want to file this year, in order to get the "stimulus" payment.
Here are two large categories of people who should consider filing this year:
- You got Social Security benefits in 2007, or
- You got VA benefits (disability compensation, pension or survivors’ benefits) in 2007
If you get either of these benefits, and your total filing-unit income for 2007 was $3,000 or higher, you can probably get the
"stimulus" payment from the IRS. But you must file a tax return to be eligible. This also applies to anyone else who can
meet the $3,000 minimum income test. NOTE: SSI does not count as income. So, if your tax filing unit's only income is SSI,
you do not qualify.
When do I file?
If you do not owe taxes and are not required to file a regular tax return, you can file for the stimulus payment at any time before
October 15, 2008. (All other taxpayers must meet the usual April 15 deadline.)
How much can I get?
Your "stimulus" payment is $300 ($600 if married and filing jointly), plus
$300 for each qualifying child. Other taxpayers can get up to $600 ($1200 filing jointly), plus rebates for children.
Again, these payments will not arrive until May, or later.
Will I lose other benefits if I get a "stimulus" payment?
By federal law, the "stimulus" payment will not count as income in figuring your eligibility for
any federally funded needs-based programs
(such as food stamps and Section 8 housing). According to the Maine DHHS, it will not count against you in any of their
Maine-funded needs-based programs, either.
Won't it cost me money to file a tax return?
It doesn't have to cost you anything. It is simple to file for the rebate.
IMPORTANT: Say "No" to scammers! Wherever money flows, scammers will be there. Do not respond to phone calls,
e-mails, or internet offers asking you for personal information or promising to help you get your rebate check.
Get more details from IRS scam alert
If you need help, try one of these free help sites:
More information from the IRS:
Want to help others get their stimulus payments?
Visit the Center for Budget and Policy Priorities ESP Outreach site.
Includes fliers, posters, Q and A's and other helpful tools, to help spread the word about the Stimulus Rebate.
