|
|
|
|||||||||||
|
Economic Stimulus Act of 2008
|
|||||||||||||
|
On February 13, 2008, President Bush signed into law the "Economic Stimulus Act of 2008 (H.R. 5140)." Many Americans can expect to receive tax stimulus payments in the spring or summer of 2008 up to $600 ($1,200 if married filing jointly). Americans who receive only Social Security or VA Payments will get an automatic $300 check. Taxpayers with qualifying children under age 17 as of December 31, 2007 will get an additional $300 per child. A federal income tax return MUST be filed to be eligible for a potential Economic Stimulus Payment. For more details on how the stimulus payments work and when they will be sent out, click here. Check the status of your Economic Stimulus Payment by clicking here.
Also, part of the Economic Stimulus Act are provisions
for bonus depreciation and
increased Section 179 expensing for
business assets.
Technical Explanation and Other Provisions of the Act To view
the entire Economic Stimulus Act of 2008,
click here
|
|||||||||||||
|
|
|||||||||||||
|
Click here to return to "Tax News Update" page |
|||||||||||||
|
|
|||||||||||||
|
|||||||||||||
