Claiming stimulus payment on 2008 return?

Taxes General Forum - Tax professionals meeting place and answers to queries. (Moderated) 

Yahoo!   Google   Windows Live   del.icio.us   digg   Netscape

Subject Author Date Claiming stimulus payment on 2008 return? D.F. Manno 12-17-2008  Re: Claiming stimulus payment on 2008 return? Arthur Kamlet 12-17-2008  Re: Claiming stimulus payment on 2008 return? Phil Marti 12-17-2008  Re: Claiming stimulus payment on 2008 return? Alan 12-17-2008  Re: Claiming stimulus payment on 2008 return? Mark Bole 12-18-2008  Re: Claiming stimulus payment on 2008 return? D.F. Manno 12-20-2008
Posted by D.F. Manno on December 17, 2008, 6:50 pm Please log in for more thread options It's well past the Oct. 15 deadline to file a 2007 tax return and receive a stimulus payment this year. IRS says that those who have not filed by that date can claim a credit for the payment on the 2008 returns. Is that a refundable credit? I ask on behalf of a Social Security/SSI recipient who qualifies for the payment but did not file this year. He neither has nor expects to have any other income this year. Is there any benefit in filing the return next year for him? -- << ------------------------------------------------------- >> << 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. >> << ------------------------------------------------------- >> Posted by Arthur Kamlet on December 17, 2008, 6:59 pm Please log in for more thread options >It's well past the Oct. 15 deadline to file a 2007 tax return and >receive a stimulus payment this year. IRS says that those who >have not filed by that date can claim a credit for the payment on >the 2008 returns. Is that a refundable credit? If taxpayer received nothing based on 2007 income, then taxpayer can file for 2008 and still receive a refundable credit. If there's at least $3000 of qualifying income, which includes social security benefits, but does not include supplemental security income (ssi). >I ask on behalf of a Social Security/SSI recipient who qualifies >for the payment but did not file this year. He neither has nor >expects to have any other income this year. Is there any benefit >in filing the return next year for him? Yes. He should file. -- ArtKamlet at a o l dot c o m Columbus OH K2PZH -- << ------------------------------------------------------- >> << 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. >> << ------------------------------------------------------- >> Posted by Phil Marti on December 17, 2008, 10:17 pm Please log in for more thread options "D.F. Manno" wrote: > I ask on behalf of a Social Security/SSI recipient who qualifies > for the payment but did not file this year. I've not heard of anyone getting both SS and SSI benefits. If it's only SSI, there's no credit available. If there's at least $3,000 in SS benefits, there is. -- Phil Marti Clarksburg, MD -- << ------------------------------------------------------- >> << 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. >> << ------------------------------------------------------- >> Posted by Alan on December 17, 2008, 11:23 pm Please log in for more thread options Phil Marti wrote: > "D.F. Manno" wrote: > >> I ask on behalf of a Social Security/SSI recipient who qualifies >> for the payment but did not file this year. > > I've not heard of anyone getting both SS and SSI benefits. If it's only > SSI, there's no credit available. If there's at least $3,000 in SS > benefits, there is. > SSDI can be supplemented with SSI if you meet the SSI income and asset requirements. -- << ------------------------------------------------------- >> << 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. >> << ------------------------------------------------------- >> Posted by Mark Bole on December 18, 2008, 12:42 pm Please log in for more thread options Phil Marti wrote: > "D.F. Manno" wrote: > >> I ask on behalf of a Social Security/SSI recipient who qualifies >> for the payment but did not file this year. > > I've not heard of anyone getting both SS and SSI benefits. If it's only > SSI, there's no credit available. If there's at least $3,000 in SS > benefits, there is. > I had one elderly married couple last year with just that -- both legally blind, one in a wheelchair. They weren't required to file, and didn't have any 1099-SSA forms with them, but fortunately monthly bank statements clearly showed the direct deposit amounts for both SS and SSI, so I was able to complete a stimulus-payment-only return for them. -Mark Bole -- << ------------------------------------------------------- >> << 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. >> << ------------------------------------------------------- >> Similar Threads Posted Stimulus payment March 1, 2008, 6:06 pm Stimulus Payment for Teenager March 21, 2008, 3:51 pm Economic Stimulus Payment November 24, 2008, 2:04 pm 1040-X and Stimulus Payment i June 5, 2009, 5:29 am Interpreting stimulus payment notice May 7, 2008, 12:24 pm economic stimulus payment question November 11, 2008, 11:31 pm stimulus payment - final post on this topic March 4, 2008, 8:53 pm Regarding stimulus payment, help me understand Net Income Tax Liability May 9, 2008, 10:20 pm 2007 Stimulus Payment and Interest Owed March 19, 2009, 9:05 am Payment for 2008 or 2009 December 31, 2008, 1:59 pm