Economic Stimulus Package - Help for low-income seniors
On February 6, 2008, the President signed into law The Economic Stimulus Act of 2008. The package provisions include:
Payments of $300 to individuals or $600 to couples for workers who earned at least $3,000 in qualifying income during 2007, but paid little or no income tax. Qualifying income includes wages, "Social Security benefit" and payments to disabled veterans or their survivors. Even if you owe little or no income tax, it is necessary to file a 2007 tax return in order to receive a check; the rebate will not count against your 2008 tax return..
Payments of $600 to individuals or $1,200 to couples who paid taxes last year on *wages or investment income*. Payments will phase out beginning with individuals with more than $75,000 in adjusted gross income and couples with more than $150,000.
It may be possible for you to use a very simple form to file your taxes. If you would like more information about how the economic stimulus plan affects you, you can visit the IRS website at www.IRS.gov, or you can call Elder Services Information and Referral specialists at
499-0524 or 1-800-544-5242.
