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Stimulus package and Social Security

By
Real Estate Agent with Keller Williams

Even if you haven't had to file a tax return for many years due to being on Social Security you can still qualify for the infamous Stimulus Payment.

But, you must file a tax return for 2007 to get the Payment even if you show no tax due.

If you didn't file on by April 15, 2008, you could have filed one with an extension, or even file late after April 15, 2008 and claim your refund of at least $300 for single persons or $600 for married.  But you must file!!

Those who are not seniors are eligible too.

All you need is to have earned income or certain veteran benefits of more than $3,000.  The amount you will receive is dependent on several factors, such as how many children, too large of an income, etc. 

As always check with your tax advisor.

This information has been provided by

Richard H. Duncan, CPA
233 So. Auburn St., #265
Colfax, CA  95713
(530) 346-8566  Tel
(530) 346-8577  Fax

 www.rhd-cpa.com

 

California-relocation

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Sandra Schweiger

 

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Comments(2)

Craig Rutman
Helping people in transition - Cary, NC
Raleigh, Cary, Apex area Realtor

Great information Sandy.

Many folks are so confused by all the new changes that it's nice to see you've made it simple to figure out this little portion of the Stimulus Package.

Kudos to your CPA friend Richard for helping out too!

Mar 03, 2009 07:56 AM
Doug Stalker
Rainmaker Properties - Pleasanton, CA

Hey Sandy, Great info!  There are a few gems in that Stimulus Package and speaking of taxes, the IRS sent out a notice that they are trying to refund some $1.3 Billion dollars from tax year 2005.  It seems alot of people didn't need to file due to low income or some other situation but had to much withheld during the year.  Good stuff!

Mar 03, 2009 03:00 PM