What Is The Stimulus Package?
Congress passed the Economic Stimulus Package to help spur a slowing economy. The IRS will send Economic Stimulus checks to over 130 million households beginning in May 2008 and continuing through the summer. Up to 20 million Americans who rely primarily on Social Security income qualify for a Stimulus check. In late March 2008, the IRS will mail a packet of information to recipients of Social Security benefits who did not file a tax return last year. The packet will contain guidance to help you claim the Stimulus payment. How Do People Qualify for a Stimulus Check? Generally a person has to have more than $3,000 in income to qualify. Even if a person does not have any earned income they can still qualify for a Stimulus tax rebate check if their Social Security benefits, Veteran’s Affairs (VA) benefits, and/or Railroad Retirement benefits equal at least $3,000. Congress excluded Supplemental Security (SSI) income and therefore, SSI does not count towards the $3,000 minimum. SSI recipie
