0
If you are a retiree who owes no tax should you file a 2007 tax return in order to qualify for the stimulus package?
Wiki User
∙ 15y ago
Yes, the IRS says you must. Even if you only have social security, you'll get a refund. IRS has issued a special reminder to an estimated 4.3 million retirees and disable veterans not to let filing for a stimulus payment to pass them by. These individuals may be eligible to receive an economic stimulus payment but are among those who normally do not file a tax return. The agency said it has accounted for 80% of the Social Security and Veterans Affairs beneficiaries initially identified as potentially eligible to receive a stimulus payment. There still remain an estimated 4.2 million people who receive certain Social Security benefits and 178,000 who receive certain Veterans Affairs benefits, IRS said. As explained by IRS, people who have no tax liability and who have no requirement to file a tax return because their income is too low or non-taxable must have at least $3,000 in qualifying income in order to receive a stimulus payment. The qualifying income includes earned income, non-taxable combat pay, and certain benefits from Social Security, Veterans Affairs and Railroad Retirement. Qualifying income from Social Security includes retirement, disability and Survivor benefits. Qualifying income from Veterans Affairs includes disability compensation, disability pension and survivor benefits. Qualifying Railroad Retirement Board benefits include the Social Security equivalent portion of Tier 1 benefits. Oct. 15 is also the filing deadline for some 10 million individuals who previously received extensions to file their 2007 income tax return.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
If you filed an amended return to claim your two children can you still get the 600 stimulus payment or do you have to wait and file on 2008 return?
Yes, you still can get the $600 stimulus payment for your 2007 income tax return. Form 1040X is Amended U.S. Individual Income Tax Return. Filing an amended return usually doesn't affect the stimulus payment. If the IRS receives your Form 1040X before issuing your stimulus payment, then your stimulus payment will be issued after your Form 1040X has been processed.For more information, go to www.irs.gov/newsroom for the article, 'Economic Stimulus Payment Q&As'.
Do you have to enter stimulus earnings on tax return?
no. Stimulus payments are not taxable. However there are situations where you might not of gotten enough of a stimulus payment. Therefore you would be qualified for a "Rebate Recovery Credit" with your 08 tax return. Therefore give your tax preparer how much you got for a stimulus payment. You can also find the exact amount at IRS.GOV
If you filled out a 1040ez will you still get the stimulus rebate?
Yes, if you otherwise qualify. You will have had to have at least $3000 in wages, self-employment, Social Security or VA benefits and be a US citizen or resident alien. You also can't be claimed as a dependent on someone else's return.
You haven't worked in 2 yrs and you have 2 qualifying children Can you file taxes and get earned income credit?
IF you did NOT have any qualified EARNED income pay wages. self employment, etc that you worked for (EARNED INCOME) then you would NOT be qualified for any of the EITC amount. Did you qualify for and file a 2007 1040 federal income tax return for the tax year 2007 in the year 2008 and receive the economic stimulus payment in the year 2008 IF you qualified for it???? If you were qualified for and did NOT file the 2007 1040 income tax return you have until April 18, 2011 to file the 2007 1040 income tax return before the economic stimulus payment will no longer be available to you. To check and see if you qualify go to the IRS gov website to look at the requirements for this purpose use the search box for Economic Stimulus Payment Q and A Eligibility
What policy says An individual may receive a tax rebate from the government after filing their federal income tax return?
Overpayments of tax are refundable by law. The rebates, as part of economic stimulus done the last year or so, are also officially an advanced refund of a tax overpayment. Again the stimulus package is a law, voted on and passed by Congress, and signed by the President. Not a policy.
You are a retiree and dont file taxes do you qualify for first time home buyers tax credit?
Yes, the credit is fully refundable. You will have to file a tax return to claim it, however.
You filed your 2007 tax return but had to do an amendment because you forgot a w2 after doing the amendment you made enough to qualify for the stimulus will you still receive a stimulus check?
Yes, you should get a stimulus check. Wait six weeks from the mailing of your return; then, if you haven't heard anything, contact the IRS at 800-829-1040 to inquire.
If you filed a 2008 tax return how much would your stimulus check be?
if you filed a 2008 tax return how much would your stimulus check be?
If you filed an amended return to claim your two children can you still get the 600 stimulus payment or do you have to wait and file on 2008 return?
Yes, you still can get the $600 stimulus payment for your 2007 income tax return. Form 1040X is Amended U.S. Individual Income Tax Return. Filing an amended return usually doesn't affect the stimulus payment. If the IRS receives your Form 1040X before issuing your stimulus payment, then your stimulus payment will be issued after your Form 1040X has been processed.For more information, go to www.irs.gov/newsroom for the article, 'Economic Stimulus Payment Q&As'.
Your income is social security surivors benefits only do you qualify for stimulus rebate?
Yes, as long as you file a return...even if the return is 0 due. You may also use the link provided to complete a free form that qulaifies: http://www.irs.gov/efile/lists/0,,id=179739,00.html
Do you have to enter stimulus earnings on tax return?
no. Stimulus payments are not taxable. However there are situations where you might not of gotten enough of a stimulus payment. Therefore you would be qualified for a "Rebate Recovery Credit" with your 08 tax return. Therefore give your tax preparer how much you got for a stimulus payment. You can also find the exact amount at IRS.GOV
If i had to file an amended tax form which caused you to owe will you still get a stimulus check?
If you did not owe anything on the original return, it probably comes down to timing. The question is will they process the amended return before they send out a stimulus check. It could easily go either way -- it's possible that they will send the stimulus check before they get around to processing the amended return.
If you filed a tax return and didn't include survivors benefits do you have to file a 1040 to recevie the economic stimulus payment?
First you need to look at the tax return you have completed. Did you earn over $3000? if YES- You do not need to do anything. You qualify and will receive your payment. if NO- you will need to file an amendment to show the income of over $3000.
Can you return things without the package?
as long as you have the receipt you can return anything.
If you filled out a 1040ez will you still get the stimulus rebate?
Yes, if you otherwise qualify. You will have had to have at least $3000 in wages, self-employment, Social Security or VA benefits and be a US citizen or resident alien. You also can't be claimed as a dependent on someone else's return.
If someone dies in 2007 but has 3000 or more in income do they qualify for federal spending incentive money?
Stimulus payments will be issued in the name of the individual eligible for payment on a filed 2007 income tax return or to the account designated by the individual on that return. This includes situations where a person dies after filing a return or where the final 2007 income tax return was filed by a personal representative or surviving spouse. Any issues or concerns involving a decedent's filed return or the related stimulus payment should be addressed by the legal representative of the decedent's estate. See link for more details http://www.irs.gov/publications/p559/index.html
What month do you get your stimulus check from 2008 tax return?
There isn't going to be a check based on your 2008 return unless you didn't get the maximum stimulus based on your 2007 return. If you didn't get the maximum based on your 2007, you may be entitled to claim the Recovery Rebate Credit on your 2008 return. The Recovery Rebate Credit will reduce the balance due on your 2008 return or increase the refund due. This year's stimulus is going out to Social Security, Railroad Retirement, and Veteran's Disability recipients only and is not based on your 2008 return.
