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Rebates for seniors in 2008 |
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Wednesday, 12 March 2008 |
Low-income seniors who haven’t filed an income tax return in 2007 will need to do so to receive a rebate under the new government economic stimulus package.
The tax return needs to show at least $3,000 in qualifying income, which can include Social Security, certain Railroad Retirement benefits and certain Veteran’s benefits.
Benefits will need to be reported on a 2007 tax return on line 20a of Form 1040 or line 14a of Form 1040A.
If a senior has already filed a return and reported at least $3,000 in qualifying income, they need to do nothing to receive their rebate. They will automatically receive the rebate in May or June.
If seniors have already filed a return and reported less than $3,000 in qualifying income, they will need to have that return amended.
Low-income seniors who are living on Social Security will most likely get rebates of $300 for a single person and $600 for a couple.
For questions or help located a free tax preparation site in your area, call the Senior LinkAge Line at 1-800-333-2433. The Senior LinkAge Line is a service of the Minnesota Board on Aging and the Minnesota River Area Agency on Aging, Inc.
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