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

[Adam]

How does the rebate effect next years tax return? Will we have to add the rebate to our total gross income or is the total ($1200, $600, $300)or whatever deducted from our total tax return. We use our yearly tax return to pay our property tax, house insurance and other bills for the year. To lose this would put a burden on some people that rely on it

[Tobie Stanger (Consumer Reports)]

Linda,

It sounds like your husband already has worked out a payment arrangement with the IRS. That suggests that your rebate will not be affected. To be sure, he could contact the IRS representative that he dealt with to set up the installment arrangement.

The rebate will be discontinued after next year's tax season.

[Tobie Stanger (Consumer Reports)]

Christmas:

You could be eligible. If you only get income from Social Security, however, you will have to fill out and send a special IRS form. . Go to the following IRS address to read the agency's special advice for Social Security recipients:

http://www.irs.gov/newsroom/article/0,,id=179201,00.html

[Kay]

I am a head of household parent of a disabled adult who receives social security benefits. I claim my son as a dependent on my return. He is eligible for a rebate?

[Tobie Stanger (Consumer Reports)]

Kay,

Unfortunately the answer is no. He must be under 17 to qualify for the dependent child rebate of $300. There is no other rebate for dependents.

[Mrs. Moon]

My husband and I filed through Jackson Hewitt and had our tax directy depoist which took 2 weeks. Our stimulus tax refund was supppose to be deposit by May 2. NOTHING YET! We was told there was going to be a letter sent out before you recieve the stimulus tax NOTHING YET!!When you call the irs, or go to the web site and put in all the information you ask for. It keeps saying, "sorry can't give any information at this time" My question is WHAT THE HECK IS GOING ON? I think someone is playing with the people minds and pockets. When we filed through Jackson Hewitt we was told we would get an stimulus tax refund and when I go to the irs website and do the calculations it tell us what we will be recieving. Again I want to know, why haven't we gotten out stimlus check yet deposited by May 2nd and when will it be direct deposited. The ss# end in 11. I know people ss# that ends in 29 already got theirs that Friday before they started acutally started depositing them in the bank on that Monday. WHERE IS MY CHECK?

[sam]

I have checked the irs site and according to it i should have receved my refund this week. I had to pay federal which i did when i file using my direct banking account # would this effect when i get the refund

[sema a wahidi]

i have not recieved my Stimulus rebate check yet it should been direct deposted to my account.

[Carley]

Hi there,
I received my stimulus refund. I was under the impression that I would be receiving a $900 refund (which included the $300 credit for my child). However, I received a $771 refund??
Does the refund for "qualifying children" come seperate? Or am I misunderstood?
Any clarification would be greatly appreciated!!

Thanks in advance.

[Tobie Stanger (Consumer Reports)]

To Carley and all those who didn't get as much as they thought:

The $300-per-qualifying-child rebate is a fixed amount, but the basic rebate varies according to your income. The maximum basic rebate is $600 per person (if it is based on earned income). However, you may not have made enough to qualify for the maximum rebate. (Or, you may have made too much; after a single head of household has adjusted gross income of more than $75,000, the rebate starts to dwindle.)

If it's the case that you are on the low end and your 2008 income is higher and qualifies you for the remainder, you can reapply for the rebate in the 2009 tax season.

[buck]

I filed 2007 returns and recieved a refund, but recieved a notice that my 2006 returns needed to be filed. my status on the irs status site has no information on stimulus check. wondering if stimulus refund will be held until my 2006 returns are filed?

[Kristina]

Question, I got back my stimulus today by direct deposit. when i filed my taxes i filed head of household with one dependent, my son whom is 2. i qualified for the child tax credit, but i only got back 600 dollars. Is there a way to dispute this in some way? i am the only one who claimed my son, and i dont understand why i didnt get the money for him to? please let me know what i can do .

Thanks,

[Tobie Stanger (Consumer Reports)]

Kristina,

The same thing appears to have happened to me. I'll post something when I get an answer from the IRS.

[Rachel]

Hi, I just recieved $600.00 tax rebate direct deposit. I had income for 2007 but my husband did not. We did file married/joint. I thought we should be reciveing $1200.00 total?
I did earn only 12424.00 (long term disability through work). My husband is in the middle of Social Security hearings for disability & that is the reason for -0- income for 2007 for him but I was under the impression if we filed jointly we should be getting the 1200.00? Is there anywhere I can call and find out what happened?

Thanks,
Rachel

[Tobie Stanger (Consumer Reports)]

Rachel, the $600 per person is a maximum, based on earned income. If your husband earned no income, he would not be eligible for a rebate. If he happens to have earned income in 2008 exceeding $3000, you can try again for the rebate when you file next year.

FYI, Unlike Social Security retirement income, I do not think that Social Security disability income counts toward the rebate.

[john]

Just curious, for 2007 i owed taxes so the IRS and state has since taken this out of my account. they say i am eligible for a tax stimulus payment but the question is, are they going to deposit it into my account they had withdrawn from or are they sending me a check? Im confused, thanks in advance.

[sperry]

I thought I was receiving $900 ($600 for me, $300 for one child). I received a strange amount of $683.17, is that all that I will be receiving or should I wait for the rest?

[Jeff Brewer]

I too just received a refund of only $600. My wife and I filed jointly; my wife is a stay at home wife and now mother. I was told and read that filing jointly would make us eligible for the $1200. Our taxable income was less than $30k.

Any answers out there?

[Gracie]

I filed my taxes for 2007 and I only made 2660. I have two children and i wanted to know if i will receive a rebate check and when. I did not use direct deposit.

[Christina]

Hi, we just received our stimulus check for half the amount we were told we would be getting. We filed an injured spouse form with our taxes and received the full amount of our normal tax refund since I didn't make any money after deductibles. Do I need to file another injured spouse form for the stimulus?

[Julia]

Okay! I'm pissed! From what I understand..we were getting the refund, if we file our taxes for 2007 right? Well, I'm single, income more than 3,000 and claim as dependant. How come no one said anything about being dependant and not receiving the rebate?? I thought you were gettting it no matter what, as long as you file your taxes for 2007 and income more than 3,000. I'm bummed out because supposely I would of got my refund directly deposit on May 9th. I saw nothing!! Did my research online and found out that if I was claimed as dependant then I was getting nothing!!
why?? I file my taxes for 2007...my parents just claimed because I'm still under the age of 25...

[bobby and ruth reece]

according to the paper and the internet on stimulus refunds, we were to receive ours on May 9th direct deposit. What happend, it is not there.

[ruth reece]

We were suppossed to receive our stimulus refund on May 9th according to the paper and internet. What happened? We electronically filed 2007 taxes.

[willie pride]

I filed my taxes on the web, using Tax act.com will my check have to go to tax act and then be returned to the Irs for remailing, or will it be sent to my bank since I did use direct deposit when I filed my tax.

[Mary]

I also by the schedule should have received a rebate on May 9 and did not. I received one letter from the IRS about the rebate not two like I have read. Does that mean I am not getting a refund?