This is the February 25, 2008, issue of Elder Law FAX, a free newsletter published by the Elder Law Practice of Timothy L. Takacs.   Money from the Government: Can Seniors Get a Check under the New Economic Stimulus Law? The 2008 Economic Stimulus Act was signed into law by President Bush earlier this month. The law provides for stimulus payments (also called recovery rebates) to eligible taxpayers. And almost everyone is eligible. So, who can get money from the government? And how?   "How do I get a rebate check?" In most cases, according to the Internal Revenue Service, taxpayers will not have to do anything extra to get the recovery rebates. "Eligible" taxpayers just need to file a 2007 federal income tax return.   "I haven't been required to file a tax return for several years. Does that mean I am not eligible?" Many persons who may not be required to file an income tax return nonetheless WILL be eligible for a recovery rebate if they had at least $3,000 of qualifying income.   Qualifying income includes Social Security benefits, certain Railroad Retirement benefits, certain veterans' benefits and earned income, such as income from wages, salaries, tips and self-employment. For people filing joint tax returns, only a total of $3,000 of qualifying income from both spouses is required to be eligible for a payment.   "How do I claim my recovery rebate?" You must file Form 1040A to claim a recovery rebate. Here is how:   1. In the blank space at the top of page 1 of Form 1040A, eligible individuals should write the words "Stimulus Payment" above the title of the form.   2. Eligible individuals should enter names, mailing address, and Social Security numbers on the appropriate lines of Form 1040A and should enter filing status and exemption information on lines 1 through 6d of the form.   3. Eligible individuals should enter wages and other compensation (including net earnings from self-employment) received in 2007 on line 7 of Form 1040A.   4. Eligible individuals should enter qualifying income received in 2007 in the form of Social Security benefits, Tier 1 railroad retirement benefits and certain veterans' disability or survivor benefits on line 14a of Form 1040A. Individuals who do not have documentation of the exact amount of these government-provided benefits may estimate their annual benefit by multiplying their monthly benefit, prior to any deductions for withheld taxes or Medicare premiums, by the number of months during 2007 that they received the benefit.   5. Eligible individuals who request direct deposit of their economic stimulus payment into their account at a bank or other financial institution should complete lines 44b through 44d of Form 1040A. Eligible individuals may not request a deposit of the stimulus payment into an account that is not in the eligible individual's name.   6. Eligible individuals should sign and date the form under the penalties of perjury statement, and should enter the identifying information of any third party designee or paid preparer, if applicable, at the bottom of page 2 of Form 1040A.   Based on the information provided on Form 1040A, the Service will compute the amount of the stimulus payment that will be refunded or credited.   "How much money will I get?" For the individual (or married couple) who has no net income tax liability for 2007, the individual may receive a minimum of $300, and $600 in the case of a joint return.   Otherwise, the amount of the 2008 economic stimulus payment is the lesser of (1) the individual's net income tax liability for 2007, or (2) $600 ($1,200 in the case of a joint return).   The Internal Revenue Service has created a page on its Web site devoted to the 2008 economic stimulus payments. Go here for more information, including "Stimulus Payments: Answers to Frequently Asked Questions": http://www.irs.gov/irs/article/0,,id=177937,00.html