US Treasury Sends Out Another Million Rebate Payments

by Mike Godfrey, Tax-News.com, Washington

06 October 2008

The US Treasury Department announced on Friday that it distributed 1,147 million stimulus payments, totaling USD672m in the month of September.

As of the end of September, a total of 115,957 million payments have been distributed totaling USD94bn since disbursements started April 28.

While mass disbursement of stimulus checks ended July 11, small batches of payments continue to be sent out to American households. The Treasury Department plans to announce updates monthly until the end of the year.

The Treasury Department has also reminded Americans, especially those seniors and veterans who do not normally file a tax return, to file a return by the October 15th filing deadline to receive a stimulus payment this year.

Economic stimulus payments are worth up to USD600 (USD1,200 for married couples) to people who earn less than USD75,000 (USD150,000 for married couples). There is also is an additional payment of USD300 for each eligible child younger than 17.

People who have no tax filing requirement may still be eligible to receive a payment of USD300 (USD600 for married couples) if they have at least USD3,000 in qualifying income.

Qualifying income includes any combination of earned income, nontaxable combat pay and certain benefits from Social Security, Veterans Affairs and Railroad Retirement. Individuals in this category may also be eligible for the additional USD300 payment for each qualifying child.

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