Reverse Mortgage Guide

April 15th is almost here, reason enough to mention taxes.

This year, perhaps more than most, it’s wise to file a tax return even if no tax is due. The reason? Rebates from the economic stimulus package requires recipients to file a tax return to get anywhere from $300 to $1,200 or more.

“Millions of retirees, disabled veterans and low-wage workers who usually are exempt from filing a tax return must do so this year in order to receive a stimulus payment,” says the government.

“Generally,” says the IRS, “people must have a valid Social Security number, have at least $3,000 in qualified income and not be a dependent or eligible to be a dependent on someone else’s return.”

Go to http://www.irs.gov/app/espc/. This is an online calculator which will allow you to figure the size of your rebate check.

For more information, go to the IRS page at:

http://www.irs.gov/newsroom/article/0,,id=177937,00.html

This entry was posted on Wednesday, April 2nd, 2008 at 5:17 am and is filed under Reverse Mortgage . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.