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1 1 (March 13, 2008)

handle is hein.crs/crsuntaagfl0001 and id is 1 raw text is: Order Code RS22832 March 13, 2008 SCRS Report for Congress A Fact Sheet on the Economic Stimulus Rebate for Social Security and Veterans' Benefit Recipients Janemarie Mulvey and Christine Scott Domestic Social Policy Division Summary The Economic Stimulus Act of 2008 (P.L. 110-185) will provide a tax rebate to (1) taxpayers with a (net) federal tax liability and (2) certain other eligible individuals and families. For the first group, taxpayers with a net tax liability, the rebate will be calculated by the Internal Revenue Service (IRS) on the basis of the tax return they would file this year. The second group, many of whom would normally not have to file a tax return this year, will need to file a tax return to receive an economic stimulus rebate. The second group includes many recipients of monthly Social Security benefits and certain veterans' benefits paid by the Department of Veterans Affairs (VA). This report provides information for Social Security beneficiaries and Veterans' benefit recipients and their families on eligibility for the rebate, the rebate amount, and how they can receive an economic stimulus rebate. This report will not be updated. Who Is Eligible for the Economic Stimulus Rebate? Individuals and families who would normally not file a tax return this year are eligible for an economic stimulus rebate if they have (total) income of at least $3,000 or more from (in any combination): * earned income from wages, salaries, tips, or net earnings from self- employment; * monthly Social Security benefits (Old Age, Survivors, and Disability Insurance benefits); * Railroad Retirement Tier I benefits; * disability compensation paid by the VA; * disability pension or survivors pension paid by the VA, * dependency and indemnity compensation paid by the VA; or * combat pay. Congressional Research Service w The Library of Congress Prepared for Members and Committees of Congress