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I am still waiting for my economic stimulus check, what could the problem be?

Posted by Cheryl Costa July 22, 2008 10:51 AM

KK asks:

Our two kids were claimed as dependents on our 2007 tax returns. They also filed their own tax returns. We received a relatively small "stimulus" check and now the kids are wondering where THEIR check is. Is there a government website we can check? Any insight you can provide would be great...before I have to provide them with a "stimulus" from the family account.

Sorry to be the bearer of bad news, but the only stimulus checks the kids will get are going to have to come from the family account. Per the IRS website, you will not receive a stimulus payment if:

You don't file a 2007 tax return.
Your net income tax liability is zero and your qualifying income is less than $3,000.
You can be claimed as a dependent on someone else's return (whether or not you actually are claimed as a dependent on someone else's return).
You do not have a valid Social Security number.
You are a non-resident alien.
You file Form 1040NR or Form 1040NR-EZ, Form 1040 PR or Form 1040SS.

Because I have received several stimulus payment-related questions, I am providing some additional background information here:

First, for people who filed their 2007 tax return before April 15th, economic stimulus payments were issued on a schedule dictated by the last two digits of the main filer's Social Security number. For joint filers, the payment will be determined using the SS# of the first person listed on the return.

If you filed your 2007 tax return after April 15th, you might have to wait as many as 8 weeks after your filing date to obtain your stimulus check.

If you filed your return reasonably close to the due date, you should have received your check by now, so if you are still waiting, the odds are good that you won't be receiving a check.

The maximum basic payment amount was $600 for singles and $1,200 for married couples. Parents of qualifying children born after December 31, 1990 would also receive an additional $300 for each child. However, your payment may be less than these amounts if:

You are single and your net income tax laibility is less than $600.
You are married and your net income tax liability is less than $1,200.
You are single and your AGI is more than $75,000.
You are married and your AGI is more than $150,000.
You are married but filing separately and will receive your payment as if you were single.
You owe back taxes.
You have non-tax federal debts such as unpaid student loans or child-support obligations.

If you have other questions relating to a stimulus check, visit the IRS website.

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Local finance professionals share insights and advice on issues such as budgeting, managing debt, and retirement planning.

About the contributors

Jill Boynton is co-founder of Cornerstone Financial Planning in Newington, N.H. Along with traditional financial planning services, Boynton provides analysis specifically for divorce.
Andrew Chan is the founder of Integrative Financial Advisors in Framingham. He provides comprehensive financial planning advice and investment management services. He has been an adviser for over 12 years and works with clients to integrate all aspects of their finances including investments, retirement, education funding, and tax planning.
Cheryl Costa is a managing director at AFW Wealth Advisors, which has offices in Natick and Purchase, N.Y. She advises clients on investing, education funding, and estate planning. She holds a master’s in business administration from Boston University.
Jamie Downey has been an accountant for more than 14 years. He's a partner at Downey & Co. in Braintree. Prior to joining the firm, he served as a manager in the audit department of accounting firm KPMG.

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