Economic Stimulus Payments/Rebates
Beginning in May, more than 130 million households will receive economic stimulus payments under the Economic Stimulus Act of 2008. In most cases, taxpayers will not have to do anything extra this year to get the rebate. All you have to do is file a 2007 tax return, and the IRS will do the rest. You do not need fill out any other special forms. If you qualify, the IRS will automatically figure your payment, send you a notice showing the amount and send it to you.
Tax rebates issued as a result of the Economic Stimulus Act of 2008 will not be considered in determining eligibility for OKDHS program benefits. Included in the act is language that states credits or refunds issued under this act are not to be counted as income or resources in the month of receipt and for the following 2 months, for purposes of determining eligibility for benefits under any federal program or under any state or local program financed in whole or in part with federal funds.
Even those who normally don’t file must file to receive a stimulus payment. This includes:
- Low-income workers
- Social Security beneficiaries
- Certain railroad retirees
- Those who receive certain benefits from the Department of Veterans Affairs
Families owed child support could also receive additional funds because of new IRS criteria and the stimulus payments.
Low- and moderate-income workers, including veterans, can get free tax help through the Volunteer Income Tax Assistance (VITA) program. Call (800) 906-9887 to locate the nearest VITA site. You can also visit the Oklahoma Tax Commission Web site to get a city listing of Oklahoma tax assistance sites.
The Tax Counseling for the Elderly (TCE) Program provides free tax help to people age 60 and older. As part of the IRS-sponsored TCE Program, AARP offers the Tax-Aide counseling program at more than 7,000 sites nationwide during the filing season. To find an AARP Tax Aide site, call 1-888 (227)-7669 or visit AARP (Link opens in new window).