Most U.S. citizens won't get 2009 stimulus checks from Obama's economic stimulus plan. There will be $250 payments for some individuals. Others may get a Recovery Rebate.
Until the American Recovery and Reinvestment Act passed in February 2009, many American were wondering, “Will there be another government stimulus check?” The final stimulus package reveals that only certain Americans will receive one-time economic stimulus payments of $250, but most Americans will not get another check. The only chance most Americans have at seeing a tax rebate in 2009 is through the Recovery Rebate Tax Credit explained below.
Who Gets 2009 Stimulus Checks?
One-Time Payments for Retirees, Disabled Veterans, Supplemental Security Income Recipients
The American Recovery and Reinvestment Act of 2009 provides for a one-time payment of $250 to disabled individuals, retirees, and those who receive Supplemental Security Income (SSI) from the Social Security Administration. Railroad retirement beneficiaries and disabled veterans who receive benefits from the U.S. Department of Veterans Affairs will also get a check. According to the IRS, individuals will receive these payments from their respective agencies and not the IRS.
What is the Recovery Rebate Credit? Not a Second Stimulus Check
Other than the people mentioned above, no one else will get a tax rebate unless it's a Recovery Rebate Tax Credit. The recovery rebate is not another stimulus payment in addition to the 2008 tax rebate; it is simply a chance for anyone who did not receive an economic stimulus payment in 2008 due to certain circumstances to get a second chance at the same rebate check. The IRS has noted, however, that most taxpayers will not qualify for this second-chance stimulus check.
According to the IRS, major factors that could qualify an individual for the Recovery Rebate Credit include the following:
A financial situation that changed dramatically from 2007 to 2008.
The person didn’t file a 2007 tax return.
The individual gained an additional qualifying child in 2008.
An individual was claimed as a dependent on another person’s 2007 tax return, but is no longer considered another person’s dependent in 2008.
For more details about this second chance at receiving a 2008 tax rebate, see the article Recovery Rebate Tax Credit.
Economic Stimulus Checks: Are They Taxable, Do They Have to be Repaid?
A hotly contested issue is whether 2008 tax rebates are taxable. They are not. Taxpayers do not have to pay them back on their 2008 tax returns. Last year’s tax rebates simply affect the amount of this year’s Recovery Rebate Credits individuals are eligible to receive. The IRS noted instances of early versions of 2008 tax software incorrectly adding 2008 stimulus payments to taxable income. Ultimately, a taxpayer should not report the 2008 tax rebate as taxable income on an individual income tax return regardless of what a tax preparer says or tax software indicates.
Related economic stimulus package & government stimulus check article:
The copyright of the article 2009 Stimulus Checks, Tax Rebates in Personal Tax Planning is owned by Lena Gott. Permission to republish 2009 Stimulus Checks, Tax Rebates in print or online must be granted by the author in writing.
what about the single man or woman who has no kids, worked years for the
company and then gets very sick.there is no help financially for singles
who have no kids.Iworked 14 yrs. as a hairdresser,commission only,and no
one would help me pay my bills unless i had 1-2 children.i almost died with
a bleeding ulcer. i could not get food stamps,my bills paid or any help
what so ever. where is the justice in that. i think we as women and men
being single should get alittle money just like the people who have 8 kids.
it is not fair. my ex-husband was nice enough to pay my bills for 3 months
untill i could go back to work.the people that need help never get it.i am
disgusted at the government.i have worked 36yrs now as a hairdresser and it
is very hard.thank you
Mar 30, 2009 7:48 PM
Guest :
American Citizen the american people need assistance to help and aid
them through this tough economic time. We are striving every day to get to
work with high gas, food and car insurance along with utilities which are
being taxed. We need a bail out like the govenment bailing out big
business. We have not noticed that we are paying for this bail out twice
we are paying higher taxes and we are also paying for the product or items
purchased from the companies that our govenment has decided to give big
businesses. I really don't think that the american people will survive
this hard economic time. I ame a single parent who can barely pay rent and
utility bills to purchase food but people who are getting aide from the
state and federal govenment are doing a who lot better than the working
ameircan very ironic the working class american need assistance from our
govenment President Obama new stimulus program is to give people with SSi
and disablities and so on but the working class it is our tax payers monies
whose paying for them to eat and pay there bills what about us....
Apr 2, 2009 3:56 PM
Guest :
ME AN AMERICAN, I don't know why so many people in the current
administration can't just open their eyes to see what's happening in
America! If the fed's want a recovery program, forget about bailing
out the corporations that led to this crummy economy! Forget
Reaganomics and "the trickle down" effect. If the 1.2 trillion
was given out to individuals 18 and over they would receive enough money to
buy autos, put a downpayment on a home, buy furniture, food, meds etc etc
and that would have an immediate affect on business and recovery. But,
instead they are taking my money and giving it to money mongers! Check out
my situation: I am 65 years old, disabled, worked all my life just to have
someone steal my identity which led to me filing bankruptcy in 2001. My
credit is so bad I can't buy a new vehicle, move (my house devalued so Im
upside down) my credit scores are not acceptable for any cards or credit.
So, here I sit watching the Government hand out "MY" money
to the very people that would deny me credit to purchase from them! Isn't
it fun to be an American :)))) I spent four years in the military during
the "Vietnam Conflict", the next 40 years building an excellent
credit history only to have it snatched out from under me! Do I sound
bitter? Yep you are right! I spend what's left of my life watching my
beloved America go down the tubes and my two children inherit an
estimated 7 to 10 billion national debt incurred by an enept government
obviously catering to the elete! We are no longer a democracy and calling
it socialism is just polite as we are so close to becoming a
dictatorship we should all start praying!
Well we still
have freedom of speech.. I hope :(((((
Apr 3, 2009 1:26 PM
Guest :
there is no getting ahead in this world. the ones who need the money get
nothing. go figure.
Apr 3, 2009 1:53 PM
Guest :
AMERICAN'S NEED THE MONEY THE HARD WORKING MEN AND WOMEN WHO NEED THE MONEY
!!!!! I DO NOT SEE THE CHANGE SAME OLD !!!!!! ALL LOT OF TALK
PUT NO ACTION
Apr 3, 2009 5:52 PM
Guest :
When I was 12 yrs old my family died in an accident and I was the only one
left. I ended up in an orphanage until I decided at the age of 14 yrs old
to leave and live on my own. It was very difficult to say the least. I
slept where I could, in hospital bathrooms, under bridges and stayed all
night in fast food restuarants..after about 3 months I got a job cutting
grass and being paid min. wage I had to be very frugal with my money. I got
another job working for a landscaping company in which my boss dropped me
off each day. I made a wopping $175 a week saving $150 per week until I had
earned $7000, I turned 15 and got a drivers permit and opened a bank
account with over $7000 in savings. I got another job at a fast food rest.
so I had 3 jobs and now I was making over $300 per wk and saving $250 per
wk. I worked like this for 2 years and saved $16,375 and I owned nothing
except 2 pr of jeans and about 5 shirts with underwear and t-shirts. My
boss gave me a room in his garage that had a bed and I paid him 15 dollars
a wk at my insistance. I bought a used truck and trailer for $2500 then
bought a riding lawnmower used and two self propelled mowers, 2 weed eaters
and 2 blowers and other items. I paid for a magnetic sign for my truck and
had lined up already residential and commercial business to cut and
landscape their businesses. I rented an apt bought some used furniture and
had 3 people working for me at 16 yrs old. At 17 I had 24 people working
for me, a landscape business, lawn service, a tree cutting business with
trucks to cut any size tree. I bid on a city project and won the bid at 2.5
million dollars, we came in under cost and weeks early and that did wonders
for me. At 18 I had over 3 million dollars in my account and sold my
successful businesses for another 275 thousand dollars. I took my GED and
passed then went to college and paid for it myself. I graduated with a
bachelor degree at 21 yrs old and in 2 more year had my masters in business
finance. I worked hard against the odds and studied many long nights. I
joined the U.S. Army becoming a Ranger and left after 4 yrs as a Major. I
am now married with 4 wonderful children who all have gone or are going to
college. I own a successful chain of businesses and continue to grow even
in this economic climate. I hear many people whine about the gov. needing
to do something for them when the answer is yourself and hard work, don't
depend on anyone but yourself, you can do it!!!!
Apr 6, 2009 1:21 PM
Guest :
I guess I dont make enough money to be eligable for a stimulus check, they
are afraid I will spend it on foolish things, like food.
Apr 14, 2009 1:28 PM
Guest :
To the gentleman in the previous post. You should be proud of what you
have achieved. However, consider yourself lucky that at 14 you were not
picked up in one of those bathrooms or from under one of those bridges and
sent to a juvenile correction facility. My point is this; it sounds like
you have enjoyed much success, but not without the help of much luck. Many
things could have derailed your achievements, consider yourself fortunate,
and for every person with such great fortune as yourself there are just as
many if not more that endure misfortune. Not everyone is lazy, some people
(such as the hairdresser above) do need and deserve help.
Apr 15, 2009 1:01 AM
Guest :
You know what's wrong here,Not everyone is born with the same luck and for
those of you who had the chance of obtaining millions of dollars with your
hard work you know why you achieve that, well you achieved that because at
that time while you were working hard and am assuming it was around 1995
economy wasn't like it is right now.Now for that are starting out is much
tougher since this economy took a turn for the worst thanks to the US
GOV't.
Because the gov't is doing something wrong and is the
following in my opinion:
If the Gov't would help us the
comsumers,then we could provide and obviously economy would rise.
But instead The Gov't is providing funds to the providers so in this
case what is happening is that the providers are investing in themselves
but they are not gaining anything because the same money being provide by
the Gov't is being used by them to come up with some useless creation that
nobody can't afford because we don't have the money.
Apr 20, 2009 5:44 PM
Guest :
Over 40 hard to even get a job, over 55 and you can forget getting hired,
over 60 and you can try 3000 times with no job. Then being single male or
female, forget trying to get help from anywhere with no kids. You call
this fair? We have the experence and years of working hard but being
treated as we are dead today in thsi world.
Apr 30, 2009 2:00 PM
Guest :
I am a single mom with one child and I work for just a little above min
wage. Because of this I can't receive any help, but yet I still can't make
ends meet. We eat rice and hot dogs for supper because its all I can
afford. My lights are on a schedule cut off date and I have $2.00 to my
naem, so even parents with children can't get help as long as your working.
Its the craziest thing I've ever seen. But yet I could quit work and get
all the well fare I wanted. Explain that one!
May 7, 2009 5:46 PM
Guest :
Try being unable to work and yet not qualify for disability. Seems that
only half the people who could use help will get it this time. After the
billions given to businesses via our taxes you'd think that the common
citizen could get a little help.. but NO...
May 14, 2009 3:40 PM
Guest :
Why is it that the senior citizens are the only one to get extra money all
the time. Is there going to be extra money for us when we get older (NO)
because by the time I receive Social Security there probally won't have
anything else to give. I think instead of giving these people more money to
do what ever they want with it (going to Florida etc.) they should put it
away for the next generation so they have something to look forward to.
Hard working person trying to make a living>
May 18, 2009 9:50 AM
Guest :
if you have worked 36 years as a hairdresser than you should have saved up
enough money to be able to pay for your needs and whatever else you want in
life because for the simple fact that you have no kids and im very sorry
that you almost died with an bleeding ulcer
May 19, 2009 2:25 PM
Guest :
To the person who posted that seniors should not get any of the benefits
they paid into their ENTIRE LIVES, before you were born or old enough to
work...ARE YOU KIDDING ME? I've never read anything as ignorant as your
comment. You are saying that the generation of senior citizens (and don't
forget disabled persons) who are trying to get by on their social security
benefits (and it's NOT enough to live on, trust me!), should lose their
benefits and the money should be put back until YOU are old enough to
receive it? Why are you deserving of social security and not our parents
and grandparents (and disabled persons)??? How can you say that every
social security recipient is wasting their money moving to Florida? Do you
read? Do you know anyone living on social security? How old are you? The
average social security recipient is living at or below poverty level. Get
a clue and stop being so selfish!! We should take care of our seniors as
they took care of us. They paved the way for us and don't forget SOMEDAY
YOU WILL BE IN THEIR SHOES! Shame on you! I hope you will educate
yourself and open your eyes to the people around you and stop looking out
only for yourself. (and no I'm not a senior yet, I'm 39 years old)
Jun 5, 2009 4:39 PM
Guest :
i am happy for the change in the white house but i really dont understand
nor do i agree with the fact that our goverment is bailing out all these
major companys and major banking corporations and wall street and in the
mean time the american people are struggling to survive raising the price
of gas food the cost of living itself keeps going up having kids now you
just cant live the homeless rate rising with the prices obama do you care
about the american people if you do why dont you take a look around the
world and see that you really need to help us the ones who build the ones
who sacrfice the ones who buy the necessities to live help the american
people please
Jun 17, 2009 3:25 PM
Guest :
i was just wondering? since i id receive an stimulus check last year
would i be receiving one this year? just curious did not understand
how it would work can anyone answer this for me?
Jul 6, 2009 6:11 PM
Guest :
Let's just take a step back here and remember that the Bank Bailout was
engineered by the Bush Administration. It's unfortunate that many Americans
think that Obama decided to bail out the rich banks. (He did, however,
allow the policy to continue, for reasons I can't fathom.)
On
the other hand, his Stimulus Act is paying the sales tax on the new car I'm
about to buy (i.e., I can deduct it from my taxable income for 2009).
Surely there are other incentives, rebates, deductions, and credits in the
bill that we won't hear about unless we take the initiative to look at it
or read an article by someone who has digested it.
My hope is
that the bill also contains help for people who are having a hard time in
this economy and aren't in a position to help the economy by making big
purchases. A nation should be judged by how it treats its most vulnerable
and needy citizens. It's not looking so good if it's only interested in
those with purchase power, the lucky few in this economy.
I took
a seven-year break from my career to join Americorps and worked in one of
the poorest neighborhoods in the country. People living in poverty are
really trapped -- many of the parents I met were working two or three jobs
and still having serious financial trouble. Hard-working families who
manage to climb slightly above the poverty line ($18,000 for a family of
four) lose their government benefits just as they are starting to get their
heads above water. Look at the single mom's story about halfway up in the
comments -- same thing. In a country this wealthy, it is obscene that
hardworking individuals are a paycheck away from financial ruin, no safety
net, while the bankers who caused this economic crisis are slapped on the
wrist by not being allowed to take a bonus exceeding half a million.
There are organizations out there that can help people like the
single mom and the hairdresser; it's just not so easy to find them. Often
someone like a hospital social worker can point you in the direction of
non-government resources.
If you don't like the way your
government is handling the economy, you have to tell your respresentatives.
Get your facts together, think about the kinds of SOLUTIONS you'd like to
see, and write to them. The squeaky wheel gets the grease. They can't
represent you if they don't hear from you.
Aug 5, 2009 8:12 AM
Guest :
SWINDLED AGAIN Tho I file a Form 1040 every year, and subsequently
demanded IRS reivew as why didn't get my 2008 rebate check, and have
received (3) 45-day review delays, I've still not recvd the $600 check nor
adequate determination for non-payment from the IRS. Having been
registered for Social Security retirement since December 2008, I find I've
not recvd my $250 payment under the American Recovery and Reinvestment Act
of 2009 either. Something is amiss. Getting screwed out of $600 under
the George Dubya Bush administration is one thing but to also get screwed
out of $250 under the Brock Hussein Obama administration too is absolutely
un-American. Me thinks, when time comes to submit my 2010 IRS Form
1040, for the first time in my adult life, I will not even file those
documents since it seems I have ceased to exist as an American citizen in
the eyes of federal officials.
Aug 27, 2009 7:52 AM
Guest :
I can't figure out and probably never will, why which I don't deny Social
Security stimulus, but I do question railraod retires, I receive widow
benefits only receive a 1099 but I am forbidden a stimulus? Denied why?
Unable to work due to injury at work, disavled but can't get Soc.Sec.
disiabilty for I wasnb't disbled 1 yr prior to my husbands death or7 yrs
within after his death, I don't have enough credits on my own Plus pay
prisioners stimulus checks 1,700 of them??? What about allo the people
who have paid into Soc, Sec, All their life and either never collected or
died right after filing, but yet feds say the soc. sec. is broke, bull. Give the trillion dollars to all americans , take the taxes out of it and
watch the economy grow.
Feb 27, 2009
