To get a tax rebate under the new economic stimulus law, you must file a 2007 tax return. You don’t have to calculate the amount of your stimulus payment. Once you file the return, the IRS will do the math and either send you a check or make a direct deposit into your bank account.
What if you request an automatic six-month filing extension? You won’t have to file your tax return until October 15. In that case, you’ll get you rebate by year-end.
What if you have an elderly parent or some other loved one with a low income, who typically does not file a federal income tax return? To get a rebate ($300 apiece, for many non-filers), a tax return must be filed. Therefore, you should tell your parent to file a 2007 return, even if no tax is due.
