Seniors To Receive Tax Rebate Info By Mail

Washington, DC - "Senior Citizens need to know how the tax rebates, passed to help shore up the economy, will apply to them. Social Security and veterans benefits recipients may face some unique requirements to qualify for the tax rebate. The update I'm sending out contains information from the Internal Revenue Service on how to receive your rebate," announced Congressman Mac Thornberry.

Quick Overview of the Economic Stimulus Act of 2008

H.R. 5140, the Economic Stimulus Act of 2008, provides temporary tax relief to many working Americans and Seniors. Most taxpaying Americans will receive $600 if they are single or $1,200 if they file a joint return, assuming they paid at least that much in federal income tax in 2007.

Anyone who made at least $3,000 in income will receive a flat rebate of $300 if single or $600 if married, even if they don't owe income tax. If your 2007 Federal tax liability is between $300 and $600 (single) or $600 and $1,200 (married), your rebate will be equal to whatever you paid in tax.

Anyone who gets a rebate will get an additional $300 for each child eligible for the child tax credit in 2008. To qualify, the child must be younger than 17 on December 31, 2008.

When Will I Receive My Rebate?

You must file a 2007 tax return in order to receive a rebate.

The IRS will use your 2007 tax return to determine who receives a rebate and how much.

The IRS will begin issuing rebates in May 2008, but if you don't file your 2007 taxes until the October 15 extended deadline your rebate will be delayed until the end of the year.

Click here to view a copy of the special senior citizens tax rebate information in PDF format.

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