Tax refund? Tax stimulus rebate? How to get both of them faster

This tax season, many of us can look forward not only to a tax refund, but also to a one-time tax rebate, ranging from $300 to $1,200, plus $300 for every child.

To get that rebate, you must file a 2007 federal tax return.  And if you want that new rebate faster, you should file your 2007 taxes electronically and arrange for direct deposit of your tax refund. Doing so will automatically will also ensure direct deposit of your rebate. The IRS asserts this route is faster and more secure than snail mail.

How long can you expect to wait for your refund if you do it all electronically? As little as 10 days from the time the IRS confirms it got your return. And your rebate? The IRS says the earliest rebates will be distributed in early May.

Though the IRS hasn't said so, it stands to reason that early filers would get their rebates early as well. Conversely, it's a sure bet that if you file for an extension, you'll have to wait beyond that time for your rebate. That's because the IRS must have your 2007 return before it can determine the size of your rebate.

Other rebate facts:

•You must have at least $3,000 in income to get the rebate. At $75,000 in adjusted gross income for individuals and $150,000 for couples filing jointly, the rebate begins to phase out.

•If you're eligible to be claimed as a dependent on someone else's tax form, you're ineligible for the rebate. For example, college students who earned more than $3,000 can't get the rebate simply by asking their parents to forego claiming them as dependents.

•A number of folks who normally wouldn't file an income tax form, including certain veterans,  Social-Security recipients, and recipients of Railroad Retirement benefits, may be eligible for the rebate. But they MUST file a 2007 return in order to get it.

•If you've filed a 2007 return already but haven't included the benefits mentioned above--which might qualify you for a rebate--you can file an amended return, Form 1040X, available at  www.irs.gov.

•Beware of e-mail and phone messages on the rebate that purport to be from the IRS. They are most certainly are scams.

Comments

[Sara McDonald]

Can I elect to have my rebate check direct deposited, even if I already recieved my tax return through the mail?

[Lorrie Mcfadden]

will i receve a stimulus payment

[Tobie Stanger]

Sara,

I assume you meant you received your tax REFUND in the mail, not your tax return.

I believe the rebate follows the same path as the refund; if you opted to your refund check mailed, the rebate (stimulus payment) check will be mailed, too. You cannot now opt to have the rebate sent to you electronically.

[Tami]

My Husband and I owe a back Hospital bill from A State Teaching Hospital and our State Refund is always Intercepted. Will the State also Intercept the Tax Rebate. Thanks

[Tobie Stanger (Consumer Reports)]

Does the state grab your federal refund? If not, I don't think it would grab the stimulus payment (rebate) either.

[Michelle Hart]

I'm 17 & earned over $3000 last year but I'm claimed as a dependent under my father. I received a letter in the mail notifying me about the economic stimulus plan. Does that mean I receive a rebate or do I not because I'm a dependent?

[andrea]

injured spouse question, i have the student loans and my husband is the injured spouse we have one child will we get his $600 plus the $300 or will we get his $600 plus $150 because they divide the child portion in 1/2? we filed the 8379 separately and mailed on feb 25, still not received my husbands 1/2 of our refund owed as of today,told to check back on tuesday, will this cause a delay in the direct deposits?

[Mary]

I'm a bit confused on the amount of the stimulis rebate.
My husband and I are both retired. Does that have anything to do with getting less of a rebate than those still working? I guess I answered my own question.

[Frames]

I'm a bit confused on the amount of the stimulis rebate.
My husband and I are both retired. Does that have anything to do with getting less of a rebate than those still working?

[lisa]

Hi. I'm a single mother of 5 adopted children. I have anadoption subsidy and I also made $1662 for the year. Is the adoption subsidy considered qualifying income?

[Johnson]

1)I have not received a "letter" of any sort regaridng the stimulus payment. Does this mean that I am not eligible?

2)I have an outstanding STATE debt. Can the stimulus package be offset and applied to that debt if I am currently in chapter 13 bankruptcy case?

[Tobie Stanger (Consumer Reports)]

Michelle:

As a dependent, you are not entitled to a stimulus payment.

[Tobie Stanger (Consumer Reports)]

To Frames:

See the IRS Web site URL, below, for information on your rebate. Scroll down to the section titled
Special Guidelines for Recipients of Certain Social Security, Veterans and Railroad Benefits:

http://www.irs.gov/irs/article/0,,id=179182,00.html

[Tobie Stanger (Consumer Reports)]

To Lisa:

It is my understanding that the adoption subsidy is not qualifying income for the purposes of receiving the rebate. With a few exceptions, the income must be earned income to qualify. And unfortunately, your $1,662 in earned income for 2007 is not considered high enough to qualify for the rebate either. However, if your earned income for 2008 ends up being higher than $3,000, you could file a return next tax season (2009), and be eligible for the rebate.

[Patricia A Garner]

I work full time and my grown daughter and my minor grand-child have lived with me full time for several years now. My daughter does not work and receives NO support from the father. Will I receive the stimulus refund check for myself and grandchild or will my daughter also be included / Thank you for your help

[Tobie Stanger (Consumer Reports)]

Patricia,

The $300-per-child rebate is only for dependent children under age 17 that you've claimed on your 2007 tax form. For a child to be considered a dependent, she must meet certain qualifying criteria. Scroll up to my second comment on this blog (dated Feb 15) for details.

[Erica]

If my company owes unpaid 941 taxes for 2007 will that effect the owners of my companies getting a rebate check?

[Sheri]

I filed the 8379 for my 2007 tax return due to my husband's debts. Obviously I will receive my 1/2 since I live in California (50-50 state), but what will happen to the childrens' portion of the stimulus payments when an 8379 form has been filed? We have 4 children and all were listed as dependents on our 2007 tax return.

[Lisa]

if i do not receive letter about stimulus check from irs does this mean i do not qualify

[Cindy]

I took earlier retirement at age 55, I am now 57. I file a tax return every year. Why is the IRS saying retirment pensions are not included? I have to pay taxes on my pension. They don't consider pension earned income. I worked 25 years for my pension. Please set me straight.
Thank you

[yvette]

I don't mean to be ungrateful, but I think it stinks that people have to wait longer for rebate checks just because they didnt choose direct deposit at tax time. Again, I don't mean to be ungrateful, I just wanted to express my feelings on the matter. Thanks.

[Donna]

I have filed 2007 taxes but the question is my daughter is handicapped with illness and she is 31, do I still get the refund for her and myself and how much?

[Tobie Stanger (Consumer Reports)]

Donna,

The child rebate is for children under the age of 17. I do not believe there is an exception for disabled children who are older. Go to the link below to determine the amount of your rebate.

http://www.irs.gov/app/espc/

[Kathleen Camplin]

Hi,
I signed up for the H & R Block emerald card because I was in the process of moving and my address has changed since I filed my taxes. I read that the rebate will not be refunded to the H&R block emerald card is this true? Any suggestions as to how I can change my address to ensure I do get my check or is it too late at this point? Any info you can provide is greatly appreciated.

Thank you,
Kathleen

[Cassie]

I am 19 years old and I did attend college in the spring of 07. I currently do not. I filed taxes for the year 07 and my dad also claimed me on his. Will I get the refund or no?