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May 05, 2008 Topic: Tax Even Taxpayers who are not required to file a return may want to, since they may be eligible for a stimulus payment (if they have at least $3,000 in qualifying income), as long as they file their 2007 income tax return by Oct. 15, 2008. The easiest way to do this for someone not required to file is usually Form 1040A. The IRS has begun issuing the payments of up to $600 ($1,200 for married couples) plus $300 for eligible children younger than 17. The first payments will be to the people who opted (on their income tax return) for direct deposit. Then, the IRS will begin mailing out checks on May 9, 2008. The payment schedule, for people who filed in time for it to be processed by April 15, is based on the last two digits of their social security number. You can find the payment schedule at: http://www.irs.gov/newsroom/article/0,,id=181972,00.html |
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