Rebate checks: IRS clarifies who gets...

Rebate checks: IRS clarifies who gets how much -- Career and Wo...

There are 62 comments on the Chicago Tribune story from Mar 9, 2008, titled Rebate checks: IRS clarifies who gets how much -- Career and Wo.... In it, Chicago Tribune reports that:

More than 130 million taxpayers will receive a rebate. To qualify, you must have at least $3,000 in income to receive the minimum rebate of $300 for an individual or $600 for a couple filing jointly.

Join the discussion below, or Read more at Chicago Tribune.

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Tina

Santa Fe, NM

#1 Apr 11, 2008
Will the state of California tax that rebate?
raquel r aguilera

O Fallon, MO

#3 Apr 17, 2008
great
roderick roberson

Crest Hill, IL

#4 Apr 20, 2008
what if you no longer have the account that u had your return go to and dont now what to do if u have a different account now
dorothy loeffler

Morrisville, PA

#5 Apr 22, 2008
about the the homested rebate when+ how much will iget back
delita

AOL

#6 Apr 23, 2008
if i own taxes will i get a rebated check
linda

AOL

#7 Apr 25, 2008
if married and filing jointly but only one spouse works, how much will the rebate be
RegularGuy

Melrose Park, IL

#8 Apr 26, 2008
delita wrote:
if i own taxes will i get a rebated check
No.

If you owe money to the IRS (equal to or more than the rebate amount) the IRS will simply confiscate your rebate to pay your back due amount.

Sort of defeats the Congressional idea of 'stimulating' the economy when the IRS decides to 'stimulate' their own collections, huh?
JML

Pleasanton, CA

#9 Apr 26, 2008
"Low- to moderate-income households can receive free help at one of the Volunteer Income Tax Assistance programs. To find the nearest location to you, call 800-906-9887. To find an AARP Tax-Aide site, call 888-227-7669."

For more info, go to the IRS website:

http://www.irs.gov/irs/article/0,,id=177937,0...
JML

Pleasanton, CA

#10 Apr 26, 2008
roderick roberson wrote:
what if you no longer have the account that u had your return go to and dont now what to do if u have a different account now
I guess they'll first try to send it to your account and it will get kicked back by your old bank. Hopefully the IRS will figure out there's a problem with your account (closed?) and will then send your rebate (if you qualified) to you in the mail.(Hopefully.)
JML

Pleasanton, CA

#11 Apr 26, 2008
dorothy loeffler wrote:
about the the homested rebate when+ how much will iget back
You could get a homestead rebate on your property taxes in PA, if you qualified. That is not at all related to these IRS rebate checks.
JML

Pleasanton, CA

#12 Apr 26, 2008
Q. Is my Stimulus Payment taxable?

A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.
JML

Pleasanton, CA

#13 Apr 26, 2008
When you do receive your check (if you qualified), please do NOT run out to Wal-Mart and spend it on products made in China. Yuck!

Instead, you should consider paying down some of your credit card debt with it.

If your debt is under control, save the money in case you lose your job.

You could also consider spending the money at stores in your neighborhood or even giving the money to charity, like your local food bank.
amy

Redmond, OR

#14 Apr 26, 2008
hey if you already have a bank account but didn't when filed how can you get the rebate checks direct deposited into your account??
connell small

Port Saint Lucie, FL

#15 Apr 26, 2008
will i get a rebate and when
JML

Pleasanton, CA

#16 Apr 26, 2008
connell small wrote:
will i get a rebate and when
http://www.irs.gov/newsroom/article/0,,id=177...

"Starting in late April, the Treasury will begin sending economic stimulus payments to more than 130 million households."

"To receive a payment, taxpayers must have a valid Social Security number,$3,000 of income and file a 2007 federal tax return."

"Even though April 15 has passed, there is still time for retirees, disabled veterans and others who normally do not file a tax return to submit a 2007 form to receive an economic stimulus payment."

If you didn't file a tax return by the April 15 deadline, go to the IRS website (link above) to see if you qualify to receive a rebate.
JML

Pleasanton, CA

#18 Apr 26, 2008
linda wrote:
if married and filing jointly but only one spouse works, how much will the rebate be
http://www.irs.gov/app/espc/

This link will take you to the Economic Stimulus Payment Calculator. In order to determine whether you qualify for a stimulus payment, you'll have to answer a series of questions.
james nangle

Skokie, IL

#20 Apr 27, 2008
At what adjusted gross income threshold do you qualify for the maximum rebate? It seems that every thing i go to the web to search out information not found in the print story is missing on the web too.
Curious

West Chester, PA

#21 Apr 27, 2008
if you owe taxes will you get a rebate?
47_disabled

Valparaiso, FL

#22 Apr 27, 2008
If you no longer have the original account you had when you filed your taxes, the check will automatically be mailed to the last known address providing it has not been forwarded. You can not change an account number.
47_disabled

Valparaiso, FL

#23 Apr 27, 2008
Yes, everyone gets a rebate even though they may owe taxes. This is to stimulate the economy not for uncle sam to eat up again.

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