Story Created:
Mar 25, 2008 at 5:52 PM EDT
Story Updated:
Mar 25, 2008 at 6:34 PM EDT
This year's economic stimulus payments are causing confusion and multiple questions as more folks have to file tax returns.
To get an economic stimulus payment, folks must make at least $3,000 in income but it doesn't have to be taxable income. Some Social Security counts. SSA counts but SSI or Supplemental Security Income does not count.
In order to get the money back, folks must file a federal tax return. For folks who don't usually file, there are free services available and Liberty Tax will also do those returns for free.
Individuals will receive between $300 and $600 and families filing jointly will get between $600 and $1,200.
Whether you E-file or file by paper, everyone can expect to see their money by mid-July.
Folks who have their federal refunds directly deposited will also have their stimulus payments directly deposited. The deposits will start May 2nd and be finished by May 16th.
Folks receiving papers checks will see their refunds in the mail between May 16th and July 11th. When folks will get them during that time period is determined by the last two digits of social security numbers.
Individuals who make more than $75,000 or couples who file jointly and make more than $150,000 will not be eligible for the stimulus payments.
For more information, log on to www.irs.gov