Retirees, Disabled Vets Still Can File for 2008 Stimulus Payments
WASHINGTON, April 23 — Even though April 15 has passed, the Internal Revenue Service today reminded retirees, disabled veterans and others who normally do not file a tax return that there is still time to submit a 2007 form to receive an economic stimulus payment.
People who have no tax filing requirement but have at least $3,000 in qualifying income should file a simple Form 1040A. Qualifying income includes any combination of earned income, nontaxable combat pay as well as certain payments from Social Security, Veterans Affairs and Railroad Retirement.
“Don’t worry if you did not file a return by April 15. If you meet the criteria, you are still eligible for a stimulus payment. The quicker you file, the quicker you’ll get your payment,” said Doug Shulman, IRS Commissioner. People must file a return by October 15 to receive an economic stimulus payment this year.
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To view the payout schedule (which is based on Social Security numbers), CLICK
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What Does this Mean for Taxpayers?
In a world with changing laws, breaches of ethics and security in the news daily, it is important for you as a taxpayer
to be assured that the professional you entrust with the calculation of your tax liability has your best interest at
heart.
What does the IRS have to say on this topic? You may be interested in reading their advice on Choosing a Tax Return Preparer and in Don't Be Taken In By Tax Scams.
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