Thursday, April 03, 2008

Do You Qualify for a Stimulus Payment?

Get your 2007 Form 1040, or Form 1040EZ, or Form 1040A available to use the Economic Stimulus Payment Calculator to see if you qualify for the stimulus payment.

According to law, the economic stimulus payment amount that everyone other than married couples filing jointly would otherwise be entitled to receive is $600. That amount is reduced by 5% of the amount that their Tax Year 2007 Adjusted Gross Income exceeds $75,000. If your Adjusted Gross Income exceeds $87,500 that amount is reduced to zero.

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