News Flash Home
The original item was published from 8/5/2008 7:44:12 AM to 9/6/2008 12:00:05 AM.

News Flash

Home

Posted on: August 5, 2008

[ARCHIVED] 2008 Economic Stimulus Payments

Starting in May 2008, the United States Treasury began sending economic stimulus payments (ESP) to more than 130 million individuals. The vast majority of Americans who qualify for an economic stimulus payment will not have to do anything other than file their 2007 individual income tax return. The IRS has estimates that some 1,530 ESP returns have not yet been filed in Nye County.

Individuals who might not otherwise be required to file a 2007 tax return will need to file a federal tax return by October 15, 2008 to receive the ESP. The return must show at least $3,000 in qualifying income. Low income workers who have earned income of at least $3,000 but do not have a regular filing requirement must file a 2007 tax return to receive the minimum stimulus payment.

Many retirees and veterans do not normally file a tax return because their benefits are not taxable. This year, they must file in order to receive an ESP. Retirees receiving the stimulus payment should have no impact on other federal benefits currently being received. The ESP is not taxable. Absent any other filing requirements, filing a tax return to receive an ESP does not mean that the retirees will have to start filing tax returns again.

For additional information about the Economic Stimulus Payments, visit www.irs.gov or speak to an IRS representative at 1-800-829-1040.

Facebook Twitter Email