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Old 02-10-2008, 09:37 PM
 
Location: Lowell, no carolina
95 posts, read 271,115 times
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does anyone know if this tax rebate is also available for people who are retired also??
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Old 02-11-2008, 06:18 AM
 
Location: State of Being
35,885 posts, read 67,141,087 times
Reputation: 22373
Quote:
Originally Posted by lam0land View Post
does anyone know if this tax rebate is also available for people who are retired also??
Anyone who made over $3,000 and filed a tax return, is the way I understand it.

This question may be answered better if it were put in a different forum.
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Old 02-11-2008, 07:38 AM
 
Location: Huntersville
1,852 posts, read 4,673,167 times
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It appears someone who had some sort of income, even Social Security income would get something. As for me, I expect and plan for getting nothing and if in May something shows up, super.
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Old 02-11-2008, 09:06 AM
 
240 posts, read 934,994 times
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According to an article on the msnbc website, hope this helps.

So it seems that the most needy senior citizens who have income from Social Security only, income low enough so there is not income tax on it, will not get any help from this. Is that correct?
— A. F., Cleveland, Ohio

No, seniors who collected $3,000 in benefits get the rebate — even if they paid no taxes. This week’s tinkering by the Senate was due, in part, to concerns that some retirees and veterans would have been left out in the original plan. So if you had at least $3,000 of “earned income” in 2007, you get a rebate. (Earned income as defined by the IRS normally would have excluded Social Security benefits; for rebate purposes, Social Security and veterans’ benefits are now back in.) In general, earned income includes wages, salaries, and tips; union strike benefits; long-term disability benefits before retirement age; earnings from self-employment; and combat pay. Income that’s not considered “earned” includes interest and dividends, pensions, unemployment benefits, alimony and child support.
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Old 02-11-2008, 10:55 AM
 
305 posts, read 1,531,617 times
Reputation: 149
I hope this is okay (sorry moderator if I've violated TOS) ...

Here's a link that explains the whole package. In layman's terms, for those of us who are not tax experts:

NPR: Bush Expected to OK Stimulus Plan, Tax Rebates
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Old 02-11-2008, 11:28 AM
Status: "0-0-2 start!" (set 14 days ago)
 
Location: The beautiful Rogue Valley, Oregon
7,289 posts, read 15,339,626 times
Reputation: 9463
I haven't actually seen a full explanation of the status of the refund. I'm sure the money will be taxable as income on next year's income taxes, but I've seen some people claim that it's an "advance" on next year's taxes which will have to be paid back. Since there were two bills floating around discussing the rebate, it might be confusing the provisions of the proposal with what just passed.
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Old 02-11-2008, 11:57 AM
 
305 posts, read 1,531,617 times
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Here's a link for the full explanation:

Detail's of Bush's Economic Stimulus and Tax Rebate Plan
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Old 02-11-2008, 12:21 PM
 
Location: DC Area, for now
3,517 posts, read 12,048,324 times
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That link says no law was passed, so it is premature. The white house link in the article just says more of the same as has been in the articles and then a bunch of propaganda. So neither actually spells out the law as passed by both houses and sent to the prez.
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Old 02-11-2008, 01:01 PM
 
Location: Uptown CLT (4th Ward)
2,560 posts, read 7,717,785 times
Reputation: 423
I have a friend on disability and is on SSI (Social Security). He does not file taxes, I think someone else claims him. He ask me did I think he would get a check for $600. I have no clue. Can anyone PLEASE chime in and advise if you know something.

THANKS!
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Old 02-11-2008, 02:39 PM
 
Location: DC Area, for now
3,517 posts, read 12,048,324 times
Reputation: 2141
The news reports said that people on SS and VA benefits who make so little they don't pay income tax will get the $300 in the bill that was passed by both houses and sent to the prez.

But it seems hard to find explicit details on just what the rules are spelled out in the bill. Maybe when the Prez signs it they will be more forthcoming.
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