Thursday, October 09, 2008

$300 Stimulus Payment - October 15th Deadline

Many have not filed for the stimulus payment offered by the US Government this year. You have until October 15th to file your taxes and claim it.

Dan Boone, an IRS media specialist, said that people who usually do not file a tax return, HAVE to file a return to qualify for the payment. No obligations, no hassles and, honestly, no scam involved, but you have to file a return.

In Alabama, there are 86,000 people eligible who collect Social Security or Veterans Affairs benefits that have not filed, according to the IRS. The payment will NOT affect their government benefits, which, Boone said, perhaps might be a misconception.

Boone said people who filed an extension have to file their taxes by Oct. 15. He said about 120,000 in Alabama filed for the extension. He said they would likely be eligible for a stimulus payment.

As of Aug. 29, the IRS had issued $93 billion in economic stimulus payments to 114.8 million people and families.

Boone said in talking to people who receive Social Security or Veterans Affairs benefits, some have the misconception that because their benefits come automatically through direct deposit they do not have to do anything to get a stimulus payment.

He said a tax return has to be filed to receive a stimulus payment.

He said others who may not have filed a tax return for several years think that if they file a return for the stimulus package they will be “back on the rolls” and have to file a return every year.

Boone said that also is not correct. He said they will not have to file a return in the future, assuming their income stays below the filing levels.

“This is a one-time thing to get this payment,” Boone said. “We’re definitely encouraging people to ask their elderly friends or relatives, ‘Have you filed for your stimulus payment yet?’”

He said only a few lines of the 1040A form have to be filled out to qualify for the stimulus payment and said an example is at

He said two mailings were sent out, one in April and another in July, and that had all the necessary information.

Boone said information is available on the IRS Web site and that several vendors also offer free e-filing.

This information is taken from an article in the Gadsden Times:

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