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On February 13, 2008 the Recovery Rebates and Economic Stimulus for the American People Act was signed into law. This law will provide rebates to 4.5 million individuals in Michigan, including some seniors living only on Social Security, disabled veterans, and the survivors of disabled veterans.
I wanted to pass along some basic information about how the tax rebates will affect you and your family. While I hope you find this information useful, it should not be regarded as a replacement for individualized tax advice.
You must file a tax return in order to receive a rebate, even if you are an individual worker who pays only payroll taxes, a Social Security recipient, or a veteran who might not otherwise be required to file a 2007 tax return file a tax return this year, and you meet the rebate eligibility requirements.
Please call our district office at 586-498-7122 or 248-968-2025 if you have any questions, or if we may be of individual assistance.
Sincerely,
Sander Levin
Tax Rebate Information
Individuals who received at least $3,000 in earned income, Social Security benefits, or veterans’ disability benefits will be eligible to receive a rebate check.
Individuals will receive rebate checks of at least $300, with married couples receiving at least $600. Depending on the amount of taxes they owe, individuals may be eligible for up to $600 and married couples up to $1,200.
In addition to these rebates, households are eligible for an additional $300 per dependent child under age 17.
All of these rebates are subject to phase outs. The rebates will be reduced by $50 for every $1,000 above the income limits of $75,000 for individuals and $150,000 for married couples.
To receive a rebate, individuals must file a 2007 tax return.
For more information, click here to view the IRS fact sheet on the 2008 stimulus payments.
Important Information for Workers, Social Security Recipients,
and Veterans
It is very important that workers who pay only payroll taxes, Social Security recipients, and veterans who might not otherwise be required to file a 2007 tax return file a tax return this year.
These individuals may be able to take advantage of free tax preparation sites.
The Volunteer Income Tax Assistance (VITA) program provides help to low- and moderate- income taxpayers. To view a list of VITA sites Oakland and Macomb counties click here or call 1-800-906-9887 to locate the nearest VITA site.
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 https://locator.aarp.org/vmis/sites/tax_aide_locator.jsp.
For more information, click here to view the IRS fact sheet for workers who pay only payroll taxes, recipients of Social Security and veterans benefits.
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