Harmony Health and Longevity

As most of you know, our federal government has decided we need more dollars to move around and this will somehow reverse the downward spiral of the value of those dollars…

So they have borrowed Millions of dollars from China (at interest) to spread the joy around our consumer culture.  Here are some details on when you will receive your payoff. 

Many people have been asking when they can expect to receive their Economic Stimulus Payments.  The IRS has recently released a payment schedule based on your social security number.  Following is the information on these payments and the schedule that will be followed.
Don Allenbrand
More on Stimulus Payments
In May, the Treasury Department will begin the process of issuing rebate checks to over 130 million individuals–the result of provisions included in the Economic Stimulus Act of 2008, which was signed into law in February. Individuals who file a 2007 federal income tax return, and have $3,000 or more of income (including amounts received from Social Security and certain veterans’ benefits), probably qualify for a stimulus payment, provided they have a valid Social Security number and can’t be claimed as a dependent by someone else. Rebate payments are phased out for individuals with incomes exceeding $75,000 ($150,000 for married couples filing joint returns). Rebate payments can be as much as $600 per individual ($1,200 in the case of married couples filing joint returns), with an additional $300 for each qualifying child under the age of 17.
Payment schedules announced
The IRS has released a schedule for stimulus payments, with the first payments being issued on May 2. Direct deposit payments will be issued before paper checks (if an individual’s 2007 federal income tax return indicates a direct deposit, the individual’s rebate payment will be directly deposited). Timing of payments is based upon the last two digits of each individual’s Social Security number (on a joint return, it’s the Social Security number of the primary filer–the individual who is listed first–that counts). The schedules apply only to returns filed and processed by April 15.

Other developments

• The IRS announced (IR-2008-034) that individuals who normally do not file a tax return but must do so this year in order to receive a stimulus payment can use the IRS Free File program to help them file returns for 2007. Information can be found on the IRS website, www.irs.gov, under Free File–Economic Stimulus Payment.
  
• Military personnel serving in combat zones can include their nontaxable combat pay on their 2007 federal income tax return if it helps them to become eligible for the stimulus payment (IR-2008-48).
  
• The IRS encourages early filing. Individuals shouldn’t wait until April 15 to file if they want their stimulus payments on time; the published schedules only apply to returns that are filed and processed by April 15 (IR-2008-051). The IRS website notes that “people who file a return after April 15 will receive their economic stimulus payment, but probably about two weeks later than the schedule shows.”
  

www.donallenbrand.com