February 15, 2008

2008 Economic Stimulus Act

The recently passed 2008 Economic Stimulus Act provides a rebate based on income levels. To qualify for the rebate, individuals must 1. Have at least $3,000 in earned income or social security benefits. SSI benefits and patrimony income do not qualify toward meeting this limit. 2. File a 2007 tax return, even if no tax is due. For more information on this topic, see the IRS Fact Sheet or February's webcast which will discuss the preparation of the tax return for religious with taxable income, including filing for the rebate.