Home Equity Line of Credit

The new economic stimulus plan will provide a variety of benefits but one part of the plan will provide one- time payments. The payments will be made from the department of social security and will benefit more than 55 million Americans.
 

Who will receive this payment?

If you currently receive social security or you are a SSI beneficiary then you should qualify to receive this payment. You may also be eligible for this payment if you receive benefits from the US Department of veteran’s affairs or from the railroad retirement board.

Children who receive SSI will be entitled to a full payment as well. If you currently receive benefits from more than one of these programs, you will only receive one additional payment. This payment will not be considered additional income. If you currently owe any type of federal debt such as child support then your payment will be applied automatically to those debts.

How much and when?

The current amount of this payment is $250.00 in addition to your normal monthly benefit payments. This amount will come separately from your normal benefit check and it will be delivered to you in the form that you normally receive your payments. Most of the payments are scheduled to be delivered by late May. If you do not receive your payment by mid June then you should contact your local Social Security office.

There is nothing that you need to do to receive this payment, if you are eligible then it will be sent to you. Need more information?

Visit TurboTax Online. TurboTax Online offers up-to-date economic stimulus information.

If you did not receive a stimulus check in 2008 based on your 2007 return you may now qualify for a recovery rebate check. This will be based on your 2008 earnings that you will file in 2009. They will take certain situations in to consideration. If you had a child in 2008 then you may be able be eligible as well.

Are you still waiting to receive your W-2 in the mail? Did you receive your W-2 from your employer and lose it? Do you need a replacement for the original? If you answered yes to any of these questions here’s what you need to do.

If you haven’t received your W-2 yet, be patient, the deadline for your employer to have your W-2 postmarked in January 31st so there’s still time.

However, if you received it and have lost it then you will need to request a copy of your W-2 from your employer. In order to file your taxes you must have your W-2 from your employer, whether it is the original or a copy.

Now some employers are going to issue electronic W-2’s, which is easier for you and your employer. If that is the case you can visit the online service that provides the W-2 and access your information on their website. You will need some information to access your W-2, for example you will need your employers name and/or employer code.

If you are unable to reach your past employer, you have options. Alternative options are more time consuming but available. First call your past employer and request a copy, if that is not possible due to the company going out of business or etc., then you can contact the IRS at (800) 829-1040 to try to obtain the information.

Your past employer must report your earnings to the IRS; you may have to wait until they are available though. Be prepared you will need to provide the IRS with information regarding your employment.

If you are finding yourself with no W-2 and the tax deadline of April 15th is approaching, as a last resort you may file a Form 4852, which is a substitute wage and tax statement. You must try to reach and request a copy of your W-2 from your past employer first and only then may you file a Form 4852.

Once you have complete the steps necessary to obtain your W2, visit TurboTax Online to file your taxes this year and get the guaranteed