New from the Money Scoop

Problems with Rebate Checks....

About 350,000 eligible households that have received rebates didn't receive the additional $300 payment for their children. In some cases, the extra payments were withheld because people failed to check a box on their tax return indicating to the IRS that their children were eligible, IRS spokesman Terry Lemons says.

In other cases, the error occurred because a few tax software companies failed to provide the information the IRS needed to make the payments, Lemons says. The IRS plans to mail a "catch-up payment" to the parents by July.

Taxpayers who filed jointly with a spouse who doesn't have a Social Security number won't receive a rebate at all. They include thousands of legal residents whose spouses have applied for a Social Security number but haven't received one yet.


Starting in late April, the Treasury began sending economic stimulus payments to more than 130 million households. To receive a payment, taxpayers must have a valid Social Security number, $3,000 of income and file a 2007 federal tax return. IRS will take care of the rest. Eligible people will receive up to $600 ($1,200 for married couples), and parents will receive an additional $300 for each eligible child younger than 17. Millions of retirees, disabled veterans and low-wage workers who usually are exempt from filing a tax return must do so this year in order to receive a stimulus payment.


Economic stimulus payments will continue on a weekly basis through July. The last two-digits of your Social Security number and whether you opted for direct deposit into your financial account or a paper check will determine when you receive your payment.

0 comments: