Taken from the IRS Economic Stimulus Payment Information Center.
More answers available on the IRS Economic Stimulus Payment FAQ.

What is it?

It's a $300 to $600 payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.

Are you eligible?

You're eligible if you have a valid Social Security Number (SSN) and show qualifying income of at least $3,000 on your federal tax return. Both people listed on a "married filing jointly" return must have valid SSNs to qualify for the payment — if only one has a valid SSN, neither can receive the payment.

What if some or all of your income consists of Social Security benefits?

The economic stimulus law allows Social Security recipients to count those benefits towards the qualifying income requirement of $3,000. Supplemental Security Income (SSI) does not count as qualifying income for the stimulus payment. To get the payment, you have to file a 2007 tax return using either Form 1040 or the short Form 1040A.

How do you get it?

Just file a a federal tax return for 2007, even if you normally don't have to because your income usually doesn't meet the filing threshhold. You can't get it if you don't file.

Normally, certain Social Security payments are not subject to income tax. However, the economic stimulus law passed in February contains a special provision allowing Social Security recipients to count those benefits toward the qualifying income requirement of $3,000 and thereby qualify for the stimulus payment.

For purposes of meeting the qualifying income requirement, the following benefit needs to be reported in any combination on Line 14a of the Form 1040A or Line 20a of Form 1040:

• Social Security benefits reported on the 2007 Form SSA-1099, which people would have received in January 2008. People who do not have a Form 1099 may estimate their annual Social Security benefit by taking their monthly benefit, multiplying it by the number of months during the year they received the benefits, and entering the number on Line 14a of the Form 1040A or Line 20a of Form 1040.
• Sample Form 1040A, example only

Supplemental Security Income (SSI) does not count as qualifying income for the stimulus payment.

Basic Eligibility Requirements

• Individuals or families must have at least $3,000 in qualifying income, which can be income from or in combination with Social Security benefits, Veterans Affairs benefits, Railroad Retirement benefits and earned income.
• People must have valid Social Security Numbers.
• People cannot be claimed as dependents or eligible to be claimed as dependents on another's tax return.
• People must file a 2007 tax form, i.e. Form 1040A.

How much will you get?

The actual amount depends on the information contained on your tax return. Eligible individuals will receive between $300 and $600. Those who are eligible and file a joint return will receive a total of between $600 and $1,200. Those with children will get an additional $300 for each qualifying child. To qualify, a child must be eligible under the Child Tax Credit and have a valid Social Security number.

Free Tax Help Available

Individuals who need to file a return this year to receive a stimulus payment may be able to take advantage of tax preparation sites islandwide:

Hawaii Island

IEG FCU
375 Kekuanoa St.
Hilo, HI 96720
(808) 961-6691

Kauai

Kauai Monitor Tax Preperation
4268 Price St.
Lihue, HI 96766
(808) 245-8508

Maui

Valley Isle Community FCU
160 Haahana St.
Kahalui, HI 96760
(808) 877-3232

Oahu

Legal Aid Society of Hawaii
924 Bethel St.
Honolulu, HI 96813
(808) 527-8050

Alu Like Central
458 Keawe St.
Honolulu, HI 96813
(808) 535-6700

Goodwill Beretania
Honolulu, HI 96813
1075 Young St.
(808) 961-6691

Leeward Community College
96-045 Ala Ike  
Room BE-229
Pearl City, HI 96782
Open every Saturday 9am - 1pm

WCA Weed and Seed
94-340 Waipahu Depot Rd.
Waianae, HI 96792
(808) 677-6939