Moapa Valley Progress
Congress gave final approval to a stimulus package that includes rebates to approximately 130 million taxpayers with qualifying earned income. With pressures from AARP and others, Congress added $300 rebates for 20 million low-income older Americans and 250,000 disabled veterans.
You must file 2007 Federal Income Taxes to receive the Stimulus Package. If you file your 2007 Federal Taxes, you need to do nothing to receive the rebate. If you did not file, or do not have to file, AARP tax Aide, Tax Counseling for the Elderly (TCE), will provide free tax help to people age 60 and older.
A walk-in clinic will be held in the Overton Senior Center on March 31 for those who need to file. Bring in all income statements for 2007 such as wages, Social Security, disability, and retirement benefits. You must have a valid Social Security Number.
In most cases, the payment will equal the amount of tax liablity on the tax return (1040 line 44), with a maximum amount of $600 for individuals ($1200.00 for taxpayers who file a joint return). The law also allows for payments for select taxpayers who have no tax liablity, such as low-income workers of those who receive Social Security benefits or veteran’s disability compensation, pension or survivors’ benefits received from the Department of Veterans Affairs in 2007. These taxpayers will be eligible to receive a payment of $300.00 ($600.00 for a joint return), if they had at least $3,000.00 of qualifiying income. Qualifying income includes Social Security benefits, certain Railroad Retirement benefits, certain veterans’ benefits and earned income, such as income from wages, salaries, tips and self employment.
While these people may not be normally required to file a tax return because they do not meet the filing requirements, the ITS emphasizes that they must file a 2007 return in order to receive payment.
