Is the economic stimulus check free or do you have to claim it on your tax's for 2008?

Question

Is the economic stimulus check free or do you have to claim it on your tax's for 2008?

Answer 1

free

Answer 2

It is not really "free".  You get one if you paid taxes and no you do not have to report it.

Answer 3

It is free.  You don't have to claim it in 2008.  You will do a reconcilation of the stimulus but that is only to make sure you got enough.

Answer 4

The worksheet will reconcile the money already received.  There will be no entry on the tax return unless you are eligible for more money.

Unlike past rebates, any additional rebate will be refundable.

Answer 5

If you got a $300 rebate in 2007, then there will be a place on the 2008 return to see if you qualify for the rest of the $600 rebate.  

I think you will have to report what you got for a rebate on your 2008 return, but I have not seen anything official on it.  The letter you get states that you need to keep the letter to use with your 2008 return.  

Answer 6

It's free and non-taxable but you still have to claim the amount received on your 2008 tax return.  

There will be a worksheet included to figure if you're eligible for more of the stimulus credit than you received.  

Answer 7

The stimulus rebate is tax free income.  You are not required to report it at all.