- Days left
As the details of the economic stimulus plan are circulated, it's become clearer who will and won't get a rebate check. Most everyone will get a check of some amount...with the exception of the following people who will not get checks:

  1. If you don't file a 2007 tax return, you won't get a check.
  2. If your qualifying income is less than $3,000, you won't get a check. Qualifying income includes social security, wages, net income from self-employment, combat pay, and veterans payments. (Supplemental Security Income -- SSI -- does not count as qualifying income.)
  3. If you are claimed as a dependent on someone else's return, you won't get a check. So college students being claimed by mom and dad won't get a check.
  4. If you don't have a valid social security number, you won't get a check.
  5. If you are a nonresident alien, you won't get a check.
  6. If you file form 1040NR, 1040NR-EZ, 1040PR or 1040SS, you won't get a check.
More details on the plan are found on this page from the IRS, so you can read up and determine if you're getting a check and how much it might be. (I've already answered my quota of "will I get a check" and "how much will I get" questions for 2008!)

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.

Increase your money and finance knowledge from home

Getting out of debt

Everyone hates debt. Get out of it.

View Course »

Economics 101

Intro to economics. But fun.

View Course »

TurboTax Articles

Video: Tax Filing Requirements for Children

Depending on how much money they made during the year, your children may very well have to file for taxes. Learn about tax filing requirements for children with help from TurboTax in this video on tax tips.

Are Losses on a Roth IRA Tax Deductible?

When the value of your investments in a Roth IRA (Roth Individual Retirement Account) decreases, you might wonder if there is a way to write off those losses on your federal income tax return. Find out what you can and can't write off when it comes to your Roth IRA.

Add a Comment

*0 / 3000 Character Maximum