2008 Tax Rebate
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This month, Congress passed a new economic stimulus package. President Bush officially signed it into law on February 13th. The Economic Stimulus Act of 2008 will enable more than 130 million Americans to receive tax rebate checks back from the government by this summer. The rebate is to be based on 2007 tax returns. Here are some key points to know about the law.
- To determine if you are eligible to receive a rebate, you simply need to file your 2007 income tax return. The IRS will note those who qualify to receive payments and will calculate the amount individual taxpayers are entitled to.
- Rebates for eligible recipients will range from a minimum of $300 to a maximum of $600 for individual taxpayers. Married taxpayers who file joint returns will receive a minimum of $600 to maximum rebate of $1,200.
- To qualify for full-rebate amounts, individuals must be either a single taxpayer with an adjusted gross income of less than $75,000 a year or a couple filing jointly with an adjusted gross income of less than $150,000.
- Additional rebates of $300 will also be allowed for each child of an eligible taxpayer.
- Under some circumstances, Veteran, Railroad Retirement, and Social Security beneficiaries may be eligible to receive payments, but individuals have to meet certain requirements and follow specific filing guidelines.
- The US Treasury will begin issuing rebate checks starting in May. Taxpayers who are set up to receive tax refunds and rebates via Direct Deposit will likely receive payments faster.
For additional information on the tax rebate, please see the following IRS links:
To learn more about H.R. 5140, the Economic Stimulus Act of 2008, please see link to the following Congressional Research Service Summary:
More February Legal Headlines
Identity Theft Ranks #1 Complaint in FTC Annual Report
The Federal Trade Commission this month released its annual report on consumer complaints. The report named Identity Theft as the #1 consumer complaint for 2007. Over the course of last year, the FTC received more than 800,000 consumer fraud and identity theft complaints. Estimated consumer losses from fraud totaled more than $1.3 billion.
Rounding out the top five complaint categories were Shop-at-Home/Catalog Sales, Internet Services, Foreign Money Offers, and Prizes/Sweepstakes and Lotteries.
See the FTC report at the following link:
For more legal news, visit the USLegal Reporter at http://reporter.uslegal.com.
Featured Products of the Month
Identity Theft Protection Guide
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TopTenREVIEWS.com Names USLegal #1 Legal Forms Website in 2008
For the third year in a row, TopTenREVIEWS.com has awarded USLegal its Gold Award. The award is the highest honor given to websites in a designated category. TopTenREVIEWS named USLegal the #1 in Online Legal Forms site in 2008. In writing about USLegal, TopTenREVIEW noted, “We found USLegal to be the most complete and well rounded legal service available on the Internet. Their broad range of forms makes them the unsurpassed leader of the online legal services.
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USLegal.com Gets New Layout
USLegal, Inc. has redesigned its corporate website for easier navigation and use by its visitors. See the new look at http://www.uslegal.com.
Law and Legal Definitions
Identity Theft Law and Legal Definition
Identity theft is governed by federal and state criminal statutes. State laws vary, but typically define the crime as the intent to use another’s identity to commit, aid, or abet any unlawful activity. A person commits the crime of identity theft if, without the authorization, consent, or permission of the victim, and with the intent to defraud for his or her own benefit or the benefit of a third person, he or she does any of the following:
- Obtains, records, or accesses identifying information that would assist in accessing financial resources, obtaining identification documents, or obtaining benefits of the victim.
- Obtains goods or services through the use of identifying information of the victim.
- Obtains identification documents in the victim’s name.
- Identity theft statutes vary by state and usually do not include use of false identification by a minor to obtain liquor, tobacco, or entrance to adult business establishments.
The types of information protected from misuse by identity theft statutes includes, among others: name, date of birth, social security number, driver’s license number, financial services account numbers including checking and savings accounts, credit or debit card numbers, personal identification numbers (PIN), electronic identification codes, automated or electronic signatures, biometric data, fingerprints, passwords, and parents’ legal surname prior to marriage.
For more legal definitions, please visit our free online legal dictionary at http://definitions.uslegal.com/.
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