As a result of the recently enacted economic stimulus law, about 130 million Americans will receive a tax credit in the form of a rebate check. However, the only way to receive a rebate from the government is to file a 2007 tax return. This includes recipients of veterans’ benefits who may, or may not, normally need to file returns.

The Internal Revenue Service (IRS) recently indicated that lower-income individuals, including veterans who are not required to file a return will be eligible to receive payments of $300, or $600 on joint returns, if they had at least $3,000 in qualifying income (which includes veterans’ disability compensation, pension and survivors’ benefit Paid by the Department of Veterans Affairs (VA)). The IRS plans to introduce a special version of Form 1040A on its Web site, http://www.irs.gov/, with instructions for veterans on how to fill out the form.

Veterans with qualifying income over $3,000 who have already filed a 2007 tax return do not have to file anything else with the IRS to receive a stimulus payment. However, those who have already filed returns, but did not report their qualifying VA benefits, may have to file an amended return to receive a larger stimulus payment. The stimulus payments, which will begin being issued in May 2008, will not affect eligibility for income-based veterans’ benefits.

To be eligible for a stimulus payment, taxpayers must have valid Social Security Numbers. Both individuals listed on a married filing jointly return must have valid Social Security Numbers to qualify for a stimulus payment. Anyone who moves after they have filed their 2007 tax return should notify the IRS by filing Form 8822, Change of Address, and also notify the Post Office.