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About the 2008 IRS Tax Rebate Checks

Who Gets What and When?

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On the 2009 Economic Stimulus: While the 2009 Economic Stimulus Package does not include tax rebate checks, it does offer income tax rebates.

As an additional part of the 2009 Economic Stimulus Package Economic recovery payments of $250 will be sent to persons currently receiving Social Security and SSI benefits beginning in early May 2009.

The 2008 Tax Rebate Checks: Starting May 2, 2008 some 130 million U.S. families and individuals will be getting tax rebate checks from the Internal Revenue Service (IRS). Here you will find answers to many of those questions, as well as resources from the IRS to help you understand the tax rebate.

Where's My Rebate? Find Out Here
The IRS has just created a handy online tool where you can check the status of your 2008 Tax Rebate payment.

IRS Announces Tax Rebate Schedule, Calculator
The IRS has announced its schedule for sending the economic stimulus tax rebate checks, with the first round of weekly payments to be completed by early July.

IRS Publishes 2008 Tax Rebate Check Details
The Internal Revenue Service (IRS), the final authority on who will get a tax rebate check and how much they will get, has issued these Facts about the 2008 Stimulus Payments.

IRS Launches Tax Rebate Information Center
Hoping to answer a seemingly endless number of questions about the 2008 Tax Rebates, the Internal Revenue Service has launched a helpful Economic Stimulus Payments Information Center, offering check amount scenarios, along with information especially for Social Security recipients and veterans.

Rebate-only Tax Filers May Now File for Free
Persons who are not normally required to file a tax return, but must do so this year in order to receive a 2008 tax rebate check, may now file for free by using the IRS Free File - Economic Stimulus Payment program.

Will I Have to Pay Taxes On My Rebate?
Once taxpayers began to get a handle on how big a tax rebate they would get, they started wondering if they would have to pay taxes on it next year. At last, the IRS provides the answer.

To Get $300 Tax Rebate, Kids Must Have SS Number
Among the many IRS Facts about the 2008 Stimulus Payments -- the tax rebate checks -- parents should note the fact that dependant children, including newborns, must have a Social Security number in order to qualify for the additional $300 per child tax rebate.

SSI and the Tax Rebate Checks
Based on the Economic Stimulus Bill as passed by Congress, persons with income from Supplemental Security Income (SSI) alone will not qualify for a tax rebate check.

What if I Filed Before the Tax Rebate was Approved?
Taxpayers who had already filed their 2007 federal income tax returns before the bill authorizing the income tax rebate checks became law on Feb. 13, do not need to do anything more to receive their payment, as long as they reported at least $3,000 in qualifying income, according to the latest IRS Facts about the 2008 Stimulus Payments.

Tax Rebate Checks Become Scammer's "Bait"
The IRS is warning taxpayers of a new telephone identity theft scam that uses the Tax Rebate checks as the bait.

Who Will Get Tax Rebated Checks?
Tax rebate checks will be mailed to about 117 million middle- and low-income taxpayers. Thanks to amendments made to the bill in the Senate, some 20 million retirees living on Social Security and 250,000 U.S. veterans receiving disability benefits will also get checks.

Single tax filers with adjusted gross incomes (AGI) less than $75,000 and couples filing jointly with AGIs less that $150,000 will qualify for full rebates.

Remember that your AGI is not your annual salary or income. Your AGI is your taxable income from all sources including wages, salaries, tips, interest, dividends, etc. minus IRS-allowed adjustments to income.

How Much Will You Get?
Qualifying single filers (AGI less than $75,000) will get rebates of up to $600. Qualifying couples (AGI less than $150,000) will get rebates of up to $1,200, plus $300 per dependent child, with no maximum on the number of eligible children.

Persons who owe no income taxes, but earned at least $3,000 in income from Social Security and veterans disability will get rebate checks of $300 for individuals and $600 for couples.

What if You Made More than the Maximum Income?
You will still get a check, but it will be reduced by 5-percent of the amount you earned above the AGI income caps of $75,000 for single filers and $150,000 for couples.

For example: A single filer with no children and an adjusted gross income of $80,000, or $5,000 over the AGI cap, will see their rebate check reduced by $250 (5% of $5,000), and will get a check for $350, instead of $600.

At some income point above the AGI income caps, the rebate checks will phase out completely.

For example: A single filer with no kids and an adjusted gross income of $87,000, or $12,000 over the AGI cap, will not get a rebate check because it would be reduced by the full $600 (5% of $12,000).

What Do You Have to Do to Get a Check?
To get a rebate check, you must file a tax return; either a form 1040 or 1040-EZ federal tax return for tax year 2007.

Persons who do not normally not file tax returns, like retirees and disabled veterans, will have to file a 2007 tax return in order to get a rebate check.

About SSI the Tax Rebates
Based on the Economic Stimulus Bill as passed by Congress, persons with income from Supplemental Security Income (SSI) alone will not qualify for a tax rebate check.

The law authorizing the rebate checks (H.R. 5140) specifically limits qualifying income from Social Security benefits to "any amount received by the taxpayer by reason of entitlement to - (A) a monthly benefit under title II of the Social Security Act, or (B) a tier 1 railroad retirement benefit."

SSI is authorized under Title XVI of the Social Security Act, not Title II.

Supplemental Security Income (SSI) is funded by general tax revenues, not Social Security taxes. It is designed to help aged, blind, and disabled people, who have little or no income by providing cash to meet basic needs for food, clothing, and shelter.

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