IRS Tax Tips
July 11, 2008 – Summertime Tax Tip Special Edition
It's Not Too Late to Claim Your Economic Stimulus Payment: IRS Will Issue Checks Through End of Year
The last of the economic stimulus checks have been issued under the planned payment schedule, which was a timetable for tax returns that were filed and processed before April 15.
However, the Internal Revenue Service will continue processing tax returns and issuing economic stimulus payments for much of the year.
It is not too late to file a return to claim an economic stimulus payment. The IRS urges people to file by October 15 to ensure they receive a payment prior to year's end. It can take up to eight weeks for the IRS to process the return and issue the payment.
For people who have no tax liability or no tax filing requirement, there is a minimum payment of $300 ($600 for married couples), plus the $300 for each qualifying child. To be eligible for the minimum payment, individuals must have at least $3,000 in qualifying income.
Qualifying income includes any combination of earned income, nontaxable combat pay and certain benefit payments from Social Security, Veterans Affairs and Railroad Retirement. The IRS is continuing to work with numerous state, local and national partners to reach people who have no tax liability or no tax filing requirement and to help them file a simple Form 1040A.
Below are some links to IRS.gov and the U.S. Treasury regarding economic stimulus payments:
Also visit www.treas.gov to see the Treasury News Release Cumulative Economic Payment Totals.
- Haven't received your payment yet?
- Form 1040A-3 for retirees, disabled veterans and others who normally don't file a return
- Economic Stimulus Payment Information Center