Tax Rebates for Social Security / Veterans’
Benefit Recipients
The only way to receive a rebate from the economic
stimulus package is to file a tax return, the Internal Revenue
Service said. That includes recipients of Social Security and
veterans' benefits who do not normally need to file returns.
The IRS said some low-income people who are not
required to file will be eligible to receive payments of $300,
or $600 on joint returns, if they had at least $3,000 in qualifying
income. But to do so they must file a return.
The tax agency said it was introducing a special
version of Form 1040A on its Web site, http://www.irs.gov/, with
instructions to these special groups on how to fill out the form.
Qualifying income includes Social Security benefits,
certain Railroad Retirement benefits, certain veterans' benefits
and earned income.
It said that for now, taxpayers in this group
will have to file a paper copy of Form 1040 or Form 1040A, although
it is working to update its systems to accept electronic versions.
Those who have already filed but did not report
their qualifying benefits may have to file an amended return in
some situations to receive a larger stimulus payment, the IRS
said. The stimulus payments will not affect eligibility for federal
benefits.
The $168 billion stimulus package Congress passed
and President Bush ( http://www.ksdk.com/news/world/us_world_article.aspx?storyid=140377#
) signed into law this month provides checks of up to $600 for
most individuals and $1,200 for couples, with an additional $300
for each child. The IRS will begin sending out the payments in
May.
