Federal Stimulus Checks

It is estimated that 500,000 Maine people are eligible to receive a federal stimulus rebate check. Maine taxpayers could be eligible for rebates ranging from $300 to $600. Married couples are eligible for rebates up to $1,200 and families with kids could receive an addittional $300 rebate per child.

According to the IRS, individuals who might not otherwise be required to file a 2007 tax return will need to file a return this year to receive the stimulus payment. The return must show at least $3,000 in qualifying income. In other words, low-income workers who had at least $3,000 in earned income in 2007 but do not otherwise earn enough to be required to file a federal tax return need to file a return in order to get the stimulus payment. Likewise, Social Security recipients, veterans and retired railroad workers who might not otherwise need to file a tax return must do so to receive the economic stimulus payment.

Normally, certain Social Security, Railroad Retirement benefits and certain veterans’ payments are not subject to income tax. However, the economic stimulus law passed in February contains a special provision allowing Social Security recipients and recipients of certain veterans’ benefits and certain Railroad Retirement benefits to count those benefits toward the qualifying income requirement of $3,000 and thereby qualify for the stimulus payment.

Process for Social Security Recipients

To make sure you qualify, pick up or download a 1040A form the IRS. You need to fill out your name, address, Social Security Number, and filing status on the form. If you are a recipient of Social Security benefits, then enter the amount of benefits reported to you in January from Form 1099-SSA on Line 14a of Form 1040A or Line 20a of Form 1040.

If you don’t have Form 1099-SSA, you can estimate your Social Security benefits by taking the monthly amount you received last year and multiplying it by the number of months you received a check. If you need to include wage earnings to reach the $3,000 qualifying level, enter that amount on Line 7 of Form 1040A or 1040.

In addition, you should write the words “Stimulus Payment” at the top of the 1040A or 1040.

[Click here for a detailed explanation for Social Security Recipients from the IRS]

Process for Veterans'

For Veterans’, the same process essentially applies. Enter your name, address, Social Security Number, and filing status on the form. Then just enter the amount of VA and Social Security benefits you received on line 14a of the Form 1040A or line 20a of Form 1040. It is important to write Stimulus Payment at the top of the form in either case.

BUREAU INFORMATION

Federal Stimulus Checks

Example Forms and Forms to Download

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Tax Relief Programs

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