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STIMULUS REBATE---- It's
not too late
SENIORS MUST FILE FEDERAL TAX RETURNS IN ORDER TO
RECEIVE STIMULUS CHECKS
In 2008, up to 20 million Americans who rely
primarily on Social Security income will qualify for
an economic stimulus check from the federal
government. Generally, people need more than $3,000
in 2007 income to qualify for the rebate. Even
seniors who do not earn income through current
employment can qualify, if their Social Security
benefits, Veterans Affairs (VA) benefits, and
railroad retirement benefits add up to at least
$3,000 annually. In most cases, seniors will receive
an economic stimulus check ranging from $300 to
$600, with payments increasing by $300 for families
with dependent children under the age of 17. The IRS
encourages filing a return by the regular April 15
deadline to get the rebate check in May of this
year. Those filing later than April 15, with or
without a tax-filing extension, may delay receipt of
the rebate. Those who qualify for a stimulus check
will receive one by the end of 2008 if they file by
October 15, 2008. However, no rebate checks will be
issued after 2008. "Seniors need to file a 2007
federal tax return, either the IRS Form 1040 or the
1040A-short-form, to receive their stimulus checks.
This is true even if their income had been low
enough that they were not required to file in
previous years.
Read IRS statement.
DATES FOR MAILING
STIMULUS REBATE CHECKS ANNOUNCED
The Internal
Revenue Service (IRS) has listed the dates for
mailing out stimulus payment checks, which will be
issued according to the last two digits of the main
tax filer's Social Security number. Recipients who
use direct deposit will be among the first to
receive the payments, starting on May 2. Paper
checks will be put in the mail starting on May 16.
The IRS is scheduled to mail checks by July 11 to
all eligible taxpayers who have filed a return by
the April 15 deadline. Those who file a tax return
after April 15 will receive their economic stimulus
payment later. A return must be filed by October 15
in order to receive a stimulus payment this year.
See the IRS online calculator for an estimate of the
amount you will receive. For the complete schedule
of payments by Social Security number, and other
information on the rebate, visit
http://www.irs.gov/irs/article/0,,id=180250,00.html.
If you have filed, but are concerned that you have
not received your stimulus check, go to:
http://www.irs.gov/individuals/article/0,,id=181665,00.html
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