proposed $600 rebate for social security beneficiaries

Ron · Joined: 25 Aug 2007 Posts: 4

Will seniors who's only income is social security and are not required
to file a tax return, have to file a tax return to obtain the $600
rebate.

Archived from group: misc>taxes

Paul Thomas, CPA · Joined: 25 Aug 2007 Posts: 3094

"Ron" wrote
> Will seniors who's only income is social security and are not required
> to file a tax return, have to file a tax return to obtain the $600
> rebate.

I haven't seen the latest legislation, but the prior wording would exclude
SSA beneficiaries from a rebate.

The situation is that you have to have positive tax liability (pre-credits
it seems), or ~~earned~~ income of at least $3000 in 2007.

Unless something has changed, you're SOL if you didn't work at all in 2007.

--
Paul A. Thomas, CPA
Athens, Georgia

the peak of dominance · Joined: 01 Feb 2008 Posts: 8

"Ron" wrote in message @z17g2000hsg.googlegroups.com...
> Will seniors who's only income is social security and are not required
> to file a tax return, have to file a tax return to obtain the $600
> rebate.

not eligible. better luck next time.

/lord i hate old people

scott s. · Joined: 25 Aug 2007 Posts: 122

"Paul Thomas, CPA" wrote in$k27.41353@bignews2.bellsouth.net:

>
> "Ron" wrote
>> Will seniors who's only income is social security and are not
>> required to file a tax return, have to file a tax return to obtain
>> the $600 rebate.
>
>
>
>
> I haven't seen the latest legislation, but the prior wording would
> exclude SSA beneficiaries from a rebate.
>
> The situation is that you have to have positive tax liability
> (pre-credits it seems), or ~~earned~~ income of at least $3000 in
> 2007.
>
> Unless something has changed, you're SOL if you didn't work at all in
> 2007.

"TAXPAYER DESCRIBED- A taxpayer is described in this
paragraph if the taxpayer--

`(A) has qualifying income of at least $3,000...

.... QUALIFYING INCOME- The term `qualifying income' means--

`(A) earned income,

`(B) social security benefits (within the meaning of
section 86(d)), and

`(C) any compensation or pension received under chapter
11, chapter 13, or chapter 15 of title 38, United States Code."

[i.e., VA disability compensation or pension]

hope this helps

scott s.
..

D. Stussy · Joined: 25 Aug 2007 Posts: 126

"Ron" wrote in message@z17g2000hsg.googlegroups.com...
> Will seniors who's only income is social security and are not required
> to file a tax return, have to file a tax return to obtain the $600
> rebate.

From what I've heard, the Senate version of the bill says that SS only
people get $300.00. Nothing's final until it's signed by Bush into law.

Arthur Kamlet · Joined: 25 Aug 2007 Posts: 2053

In article ,
scott s. wrote:
> "TAXPAYER DESCRIBED- A taxpayer is described in this
>paragraph if the taxpayer--
>
> `(A) has qualifying income of at least $3,000...
>
>
>... QUALIFYING INCOME- The term `qualifying income' means--
>
> `(A) earned income,
>
> `(B) social security benefits (within the meaning of
>section 86(d)), and
>
> `(C) any compensation or pension received under chapter
>11, chapter 13, or chapter 15 of title 38, United States Code."
>
>[i.e., VA disability compensation or pension]

So I have this little blue and white form in front of me that
says Form 1040 2007 on the top.

And lots of little writing and many lines.

But none of those lines says VA Disability Compensation

Please tell me where to report my VA Disability Pension, please?
--

ArtKamlet at a o l dot c o m Columbus OH K2PZH

scott s. · Joined: 25 Aug 2007 Posts: 122

kamlet@panix.com (Arthur Kamlet) wrote in$iml$1@reader2.panix.com:
>
>
> So I have this little blue and white form in front of me that
> says Form 1040 2007 on the top.
>
> And lots of little writing and many lines.
>
> But none of those lines says VA Disability Compensation
>
> Please tell me where to report my VA Disability Pension, please?

I suppose that's how we keep all the bureaucrats employed, coming
up with regs for this. I imagine VA will produce some sort of
form for this to include with a return.

scott s.
..

Paul Thomas, CPA · Joined: 25 Aug 2007 Posts: 3094

"scott s." wrote
> kamlet@panix.com (Arthur Kamlet) wrote in
> $iml$1@reader2.panix.com:
>>
>>
>> So I have this little blue and white form in front of me that
>> says Form 1040 2007 on the top.
>>
>> And lots of little writing and many lines.
>>
>> But none of those lines says VA Disability Compensation
>>
>> Please tell me where to report my VA Disability Pension, please?
>
> I suppose that's how we keep all the bureaucrats employed, coming
> up with regs for this. I imagine VA will produce some sort of
> form for this to include with a return.
>

It's too late for this year. From what I've read, the IRS will coordinate
with the VA (now there's a train wreck in the making).

--
Paul A. Thomas, CPA
Athens, Georgia

Arthur Kamlet · Joined: 25 Aug 2007 Posts: 2053

In article ,
Paul Thomas, CPA wrote:
>
>It's too late for this year. From what I've read, the IRS will coordinate
>with the VA (now there's a train wreck in the making).

VA dosn't seem to coordinate well with Defense. And that should
have been easier.
--

ArtKamlet at a o l dot c o m Columbus OH K2PZH

scott s. · Joined: 25 Aug 2007 Posts: 122

kamlet@panix.com (Arthur Kamlet) wrote in$eme$1@reader2.panix.com:

> In article ,
> Paul Thomas, CPA wrote:
>>
>>It's too late for this year. From what I've read, the IRS will
>>coordinate with the VA (now there's a train wreck in the making).
>
>
> VA dosn't seem to coordinate well with Defense. And that should
> have been easier.

Not the best, though it seems like in the area of the retired pay
offset for VA compensation they are working together at this point.

scott s.
..

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