Ok People... Listen up! Here is the deal..... The only way you can get "Free" (that is not so free) Money in May is to file a return! So........ If you know anyone that is retired or disabled or is on SSI and does not file a return make them do it... Our company will charge you $35 to do your return for you or someone you know........ YOU MUST file your taxes in order to recieve your May rebate.
For those of us that do a return somehow we have to pay it back or it is an "advance" on next year's taxes. For those that don't normally file a return this is, in fact, "free money".......
"Normally, certain Social Security payments are not subject to income tax. However, the economic stimulus law passed in February contains a special provision allowing Social Security recipients to count those benefits toward the qualifying income requirement of $3,000 and thereby qualify for the stimulus payment.
For purposes of meeting the qualifying income requirement, the following benefit needs to be reported in any combination on Line 20a of Form 1040 or Line 14a of the Form 1040A.
Social Security benefits reported on the 2007 Form 1099-SSA, which people would have received in January 2008. People who do not have a Form 1099 may estimate their annual Social Security benefit by taking their monthly benefit, multiplying it by the number of months during the year they received the benefits, and entering the number on Line 20a of Form 1040 or Line 14a of the Form 1040A"
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