Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
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.
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.
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.
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.
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.
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.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
