04.23.2008 9:36 am
Retirees, disabled veterans can still file for stimulus rebate
St. Louis Post-Dispatch
Tax deadlines may be past for many area residents, but retirees and disabled veterans with at least $3,000 in income can still qualify for this year’s special stimulus payments.
Those who aren’t required to file a tax return because their income is too low can file a simple Form 1040A. Qualifying income includes any combination of earned income, non-taxable combat pay and certain payments from Social Security, Veterans Affairs and railroad retirement.
Stimulus payments range from $300 to $600 for individuals and up to $1,200 for married couples. An additional $300 per child under 17 also is available.
The forms can be filed using free electronic filing through the IRS website, www.irs.gov.
I work for a company that manages and tracks gift cards and we blogged about the IRS stimulus a few days ago on savvywallet.com. I just want to warn the readers that there are some scams out there, so just be careful what you do with your stimulus. Another thing, there are retailers who are offering 10% bonuses if you exchange your stimulus for store gift cards. Be careful. Consider this, last year $100B was spent on gift cards and $8B was lost/unredeemed. My advice? save it, put it towards debt, get that HDTV you’ve always wanted. I’d rather have an expensive TV sitting in my living room than have my wallet stolen with grocery gift cards in it. At least I can say that Uncle Sam helped me finance my 50in plasma.