ASSETS & ANSWERS
Everyone who wants the rebate has to file
Those who normally make too little to do a return should seek out volunteer groups
By Houston Chronicle
www.chron.com
February 27, 2008 -
Personal finance columnist Shannon Buggs answers readers' questions about managing money.
Q: My wife is disabled and 66 years old, and I am 78 and unemployed.
We have not made enough money for the past five years, according to a national tax preparation service, to have to file an income tax return.
Will we have to file this year to be eligible for the rebate?
A: Yes.
Low-wage workers and people who receive Social Security and certain veterans or railroad retirement benefits do not have to file federal income tax returns if their total income does not meet a certain level.
For married people age 65 and older who file a joint return, that threshold this year is $19,600.
But to claim the rebate, which is also called a stimulus payment, you will have to file a return even though you have not had to file in the recent past.
To keep as much of the stimulus payment in your pocket as possible, consider filing your tax return on your own or using free services provided by volunteer groups.
The Houston Asset Building Coalition, a partnership between the city of Houston, the Internal Revenue Service and local nonprofits, financial institutions and government agencies, coordinates the IRS' Volunteer Tax Assistance program locally.
The coalition will staff 26 sites throughout the city with IRS-certified volunteer tax preparers and will file returns electronically for free.
To find a location near you, go to www.houstonassetbuilding.org and click on Free Tax Preparation.
You can also call 713-957-4357 or dial 211, the United Way of Greater Houston help line.