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Posted by Wancheck on March 27, 2008, 4:47 pm
Please log in for more thread options On Mar 27, 10:36 am, "Paul Thomas, CPA"
>
> >I work full time; my wife receives Social Security Disability. My two
> > children (8 yrs. and 9 mo) but receive a small portion of my wife's
> > SSD payment each month as well.
>
> > The other day we received two Economic Stimulus Packet's in the mail
> > addressed to each of my children.
>
> > Do they (I) need to fill these out in order for us to receive the $300
> > per child stimulus in May? Or did they receive these just because they
> > receive SSD?
>
> If they are your dependent, they'll not be receiving a check.
>
> --
> Paul A. Thomas, CPA
> Athens, Georgia
>
> --
> << ------------------------------------------------------- >>
> << The foregoing was not intended or written to be used, >>
> << nor can it used, for the purpose of avoiding penalties >>
> << that may be imposed upon the taxpayer. >>
> << >>
> << The Charter and the Guidelines for submitting posts >>
> << to this newsgroup as well as our anti-spamming policy >>
> << are atwww.asktax.org. >>
> << Copyright (2007) - All rights reserved. >>
> << ------------------------------------------------------- >>
The IRS sent these packets to about 20 million Social Security or VA
benefit recipients who did not file a tax return last year, so that
those who qualify for the stimulus payment because of their Social
Security or VA benefit income would not miss out, even if they don't
have a filing requirrement and don't usually file a tax return. The
packets are not relevant to some, like your children, since dependents
do not qualify individually for the stimulus payment.
So, it is true that your children, as dependents, will not receive
separate stimulus payments directly. However, you and your wife quite
likely will qualify for a $300 additional stimulus payment for each
child if you file a tax return indicating they are your dependents and
are qualifying children for the child tax credit (Line 6c of the 1040
or 1040A). You don't have to submit additional tax forms for the
children. The fact that they receive Social Security benefits doesn't
make a difference.
If you already filed a tax return, and showed at least $3,000 in
earnings, you don't have to do anything more to get the stimulus
payment. The IRS will send you a notice indicating your payment has
been sent and for how much. If for some reason you didn't list your
children as dependents and check the child tax credit box on Line 6c,
you can easily file an amended return (1040X) to fix this and receive
your full stimulus payment.
John Wancheck
Center on Budget and Policy Priorities
========================================= MODERATOR'S COMMENT:
please trim the post to which you are responding
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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