Stimulus Checks Guide: Tax rebate
Stimulus Payment Information
Your stimulus payment from last year should not be included as income when you file your 2008 tax return.
Most people received the maximum Economic Stimulus Payment in 2008. However, some people may be eligible for a first time credit or for a larger payment than they were eligible for last year.
You'll need to have the amount of your Stimulus Payment from last year so you can figure out whether or not you're eligible for the Recovery Rebate Credit.
Single taxpayers with adjusted gross income of less than $75,000 last year as well as joint filers with adjusted gross income of less than $150,000 were eligible for a rebate.
For a single filer, the minimum payment is generally $300, and the maximum payment about $600. For married taxpayers filing jointly, the minimum payment is $600 and the maximum is $1,200. Taxpayers with children will receive an additional $300 per child under 17.
Beginning in May, Over 130 million households in America will receive economic stimulus payments. Recipients must file a 2008 federal tax return to be eligible for a stimulus check payment. Low income earners and Social Security recipients, who may not normally file, will need to do so to become eligible for the stimulus check.
To receive your payment faster it has been advised that you sign up for a direct deposit payment. People with low Social Security numbers will receive their checks first. For example, an 06 number will be amongst the first to receive payment.