The subject of my first post will be the upcoming Economic Stimulus Package checks that most of us will receive beginning in May.These are the checks that the government will distribute in an effort to give the economy a boost. They will be in denominations of $300, $600 and $1200.
The amount we are to receive will be depend upon our living situation and the level of income reported on tax returns for 2007. If an individual can report a minimum of $3,000 qualifying income for the year 2007, he/she will recieve a check.
It is important for our clients and members to know that SSI payments do not qualify! Those who receive both SSI and SSDI may get a check but, as of now, that money will have to be reported to Social Security and it will reduce the SSI payment dollar for dollar for that month.
That's as much as we know now and any of it is subject to change between now and distribution time. If you have any questions, please let me know. Either call me, e-mail me or post a comment or questions here.
In the meantime, here is a link for further information.
http://www.irs.gov/irs/article/0,,id=177937,00.html
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