STARTING IN MAY, the U.S. Treasury Department will begin sending economic stimulus payments to more than 130 million households. Eligible taxpayers will receive between $300 to $600 if single or $600 to $1,200 if married filing jointly.
You must file a 2007 tax return to receive your rebate. You do not need to do anything else. The IRS will calculate your rebate and send you a check.
What if I don’t file an income tax return?
MILLIONS OF RETIREES, disabled veterans, and low-wage earners who are exempt from filing an income tax return are still eligible for a rebate. You are eligible for a rebate if you have a valid Social Security number and at least $3,000 of income in 2007.
In order to receive your rebate, you must file a 2007 income tax return. If you are exempt from filing a return, file one for 2007 anyway. Your rebate is calculated based on this return, and filing one is the only way you will receive it. Don’t worry about meeting the April 15 deadline. If you owe no income taxes, that deadline is not important. What is important is that the IRS must receive your tax return in order to calculate and send you your rebate.
Beware of rebate scams
THE IRS REPORTS that e-mail and telephone scams involving these rebates have already begun to appear. The IRS will not contact you regarding your rebate. Any phone call or e-mail claiming to be from the IRS is a scam artist trying to get you to reveal your personal information — Social Security number, bank account number, etc. — so they can steal your money.
FOR MORE INFORMATION on the rebate program and related scams, visit the IRS Web site — www.IRS.gov — and click on the “Rebate Questions?” link.