If your CPA or tax professional seems on edge right about it may be with good reason. The IRS announced recently that it expects anywhere from 10 to 20 million more returns to be filed this year then ever before. The main reason for this anticipated is the Economic Stimulus Rebates.
The act bases all rebates on returns filed for tax year 2007. Even people whose income in the past was such that a return was not required to be filed may be eligible for the rebate. However, in order to receive that rebate these people will need to go ahead and file. This would include people who receive Social Security benefits, Railroad Retirement benefits and Veterans’ benefits.
One of the national retail tax establishments is already trying to tap into this market by offering to file for these people for a flat rate of $35 which would then qualify the individual(s) for the rebate.
The act bases all rebates on returns filed for tax year 2007. Even people whose income in the past was such that a return was not required to be filed may be eligible for the rebate. However, in order to receive that rebate these people will need to go ahead and file. This would include people who receive Social Security benefits, Railroad Retirement benefits and Veterans’ benefits.
One of the national retail tax establishments is already trying to tap into this market by offering to file for these people for a flat rate of $35 which would then qualify the individual(s) for the rebate.
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