- 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

Introduction to Retirement Funds

Target date funds help you maintain a long term portfolio.

View Course »

Understanding Credit Scores

Credit scores matter -- learn how to improve your score.

View Course »

TurboTax Articles

Video: Tax Guidelines About Gifting

Note: Some of the content of this video applies only to taxes prepared prior to 2012. It is included here for reference only. Find out the tax guidelines about gifting with help from TurboTax in this video on tax tips.

Video: What are Income Tax Rates?

Note: The content of this video applies only to taxes prepared for 2010. It is included here for reference only. Income tax rates change depending on both the amount of money you make and how you made it. Find out about income tax rates with help from TurboTax in this video on tax tips.

Video: How To Reduce Errors on Your Tax Return

Did you know that errors on your tax return can affect the amount of your tax bill and the amount of time it takes to get a refund? Fortunately, TurboTax helps you avoid errors AND be sure you're getting all the tax deductions and credits you deserve.

Does Your Company Need to File Form 1095-B?

A company is responsible for filing IRS Form 1095-B only if two conditions apply: It offers health coverage to its employees, and it is "self-insured." This means that the company itself pays its employees' medical bills, rather than an insurance company. A company that doesn't meet both conditions won't have to deal with Form 1095-B. Its employees might still receive a 1095-B, but from their insurer, not the employer.

Video: Who Qualifies for an Affordable Care Act Exemption (Obamacare)?

The Affordable Care Act requires all Americans to have health insurance or pay a tax penalty. But, who qualifies for an Affordable Care Act exemption? Find out more about who qualifies for an exemption from the Affordable Care Act tax penalty, how to claim an exemption on your tax return and how the Affordable Care Act may affect your taxes with this video from TurboTax.

Add a Comment

*0 / 3000 Character Maximum