Stimulus Plan

I was reading up on this for work and thought I might share the details in layman's terms (as best I can).

• If you are married and you had at least 1,200 in tax liability (form 1040, line 44), then you get a 1,200 rebate.
• If you have less than 1,200 in tax liability, then you get a refund of the tax amount, with a minimum of 600 for married people (300 minimum for singles).
• You have to have at least 3,000 in earned income or social security income.
• Even if you don't normally file a tax return because you don't owe taxes (i.e. your only income is social security), you need to file a return this year to get on the IRS rebate list.
• You get an additional $300 for each kid that also qualifies for the child tax credit (with no limit as far as I can see)
• That means $1,800 for us!!!
  
• Payments start going out in May and continue through the summer.
• I would recommend filing on time and not filing an extension this year. It will likely delay your rebate.
• Here's a nifty calculator I found:

• More Info