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Some still can get stimulus payments


Rocky Mount Telegram

Tuesday, May 06, 2008

Retirees and disabled veterans still can file for 2008 stimulus payments, said Mark Hanson, an IRS spokesman for the Carolinas.

"Even though April 15 has passed, the Internal Revenue Service reminds 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," Hanson said. "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, U.S. Veterans Affairs and railroad retirement, Doug Shulman, IRS commissioner, said in an IRS report about the payments.

"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," Shulman said.

People must file a return by Oct. 15 to receive an economic stimulus payment this year, Hanson said.

Shulman urged friends and family members to reach out to acquaintances or relatives who may either be unaware of the economic stimulus payment or unable to file the tax return themselves.

"We need everyone's help to make sure all eligible people get the economic stimulus payments," Shulman said.

Those not required to file a tax return because of too low or nontaxable income must file a return to obtain an economic stimulus payment, Hanson said.

The Economic Stimulus Act of 2008 provides a minimum payment of $300 – $600 for married couples – plus the $300 payment per eligible child, if the person – or married couple– has at least $3,000 in qualifying income, Shulman said.

Social Security benefits considered qualifying income include retirement, disability and survivor payments. Supplemental Security Income is not qualifying income. The types of U.S. Veterans Affairs benefits considered qualifying income include disability compensation, disability pension and survivor payments. Qualifying railroad retirement payments include the social security equivalent portion of Tier 1 benefits.

"People not otherwise required to file an income tax return must file a simple Form 1040A with basic information to ensure that they receive the economic stimulus payment," Hanson said. "This information includes their name; address; dependents, if any; amount of their qualifying income (which must be $3,000 or more); direct deposit information; and their signatures."

Forms 1040A and instructions are available at www.irs.gov, Hanson said. Eligible people, including qualifying children, must have Social Security numbers, he said.

Also, people cannot be claimed or be eligible to be claimed as a dependent on another's tax return, Hanson said. People with Individual Taxpayer Identification Numbers are not eligible, he said.

IRS Taxpayer Assistance Centers are open during the week to provide assistance. To find an area IRS office, go to IRS.gov and click on "Contact IRS," then "Contact Your Local IRS Office." These sites offer free tax preparation and filing for individuals and families whose income is $40,000 or less.

A select number of volunteer tax assistance sites in local communities also may remain open. People can call 800-906-9887 to find the nearest volunteer tax assistance site.

If people want to file a return electronically, Free File – Economic Stimulus Payment also is available at www.irs.gov, Hanson said. This program provides free software and free electronic filing of the Form 1040A.

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