May 22, 2008

Thanks to You For The Rebate Comments

All of us here at appreciate the many comments received concerning the incorrect blog post about children and eligibility for the stimulus rebate. The correct answer on qualifying for the rebate if you are over 16 years old as of 12/31/07 is that no payment will be made if any of these situations apply:

1) You do not file a 2007 tax return.
2) Your qualifying income is less than $3,000 and income tax liability is $0.
3) You can be claimed as a dependent on someone else's tax return (whether or not actually claimed on the return) i.e. child or full-time student.
4) You do not have a valid social security number.
5) You are a non-resident alien.

Thanks again to our astute readers for keeping us focused on providing a high level of content. We enjoy receiving all of your questions and comments to us.

1 responses:

Frustraded_Tiger,  December 16, 2008 at 2:43 PM  

Shouldn't #1 here be amended to say "file your 2007 return on time"? I filed late and was then informed by my CPA that I forfeited my stimulus check. That would've been some handy information as motivation. $1,200.00 down the drain.

This is correct, right?

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