Information About Economic Stimulus Payments for Social Security, Veterans, and Other Beneficiaries

Don't miss out on the economic stimulus program!

If you were NOT required to file a 2007 tax return you still need to file a return in order to receive an economic stimulus payment.

You are eligible for the economic stimulus payment if you have a total of $3,000 or more in qualifying income, and a valid social security number. Qualifying income is:

• Earned income
• Social security benefits (including social security disability payments)
• Certain railroad retirement benefits
• Certain veterans' benefits
• Nontaxable combat pay

If you have any of these types of qualifying income totaling $3,000 or more, you will receive a payment of $300 ($600 if married filing jointly). In addition, you will receive an additional payment of $300 for each qualifying child (under age 17).

The stimulus payments will not have any effect on eligibility for federal benefits, such as temporary assistance for needy families, food stamps, or Social Security.

Once you file the 2007 tax return, you do not need to do anything more. The IRS will determine your eligibility, figure out your economic stimulus payment amount, and send you the payment.

To file for this payment, you will need to fill out only a few lines of Form 1040A. You may also file electronically for free. Visit www.irs.gov and click on the free file icon.

The sooner you file the sooner you can receive your stimulus payment. But if you have obtained a valid six-month extension to file or if you are filing to establish your eligibility for the stimulus payment, filing by October 15, 2008 means the IRS can process your return and issue a stimulus payment before the end of the year.

The Newark Public Library has copies of the forms you will need to file if you were not required to file a tax return this year. Please visit the Main Library's Reference Desk on the second floor to pick up a copy.

For more information, visit the IRS on the Web at www.irs.gov or call the IRS hotline at 1-866-234-2942. Click here to visit the IRS's Frequently Asked Questions about the economic stimulus payments.

More About the Government's Economic Stimulus Program

The United States Congress passed and President George W. Bush signed into law the Economic Stimulus Act of 2008. It provides for economic stimulus payments to be made to over 130 million American households. The payments will be made starting in May 2008 and are expected to continue through July. Payments will be sent out based on the last two digits of the social security number.