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Tax Tips
September 2008
It's NOT Too Late to Claim Your Economic Stimulus Payment!
That's right. It is not too late to file a return to claim your economic
stimulus
payment. You must file a return by October 15 to receive a payment prior
to year's end.
People who have no tax filing requirement but have at
least $3000 in
qualifying income should file a simple Form 1040A. Qualifying income
includes any combination of earned income, nontaxable combat pay as well
as certain payments from the Social Security Administration, Department
of
Veterans' Affairs and the Railroad Retirement Board.
For taxpayers who are required to file an income tax
return, the IRS will use
their 2007 tax return information to determine eligibility.
Social Security benefits considered qualifying income
include retirement,
disability and survivor payments; SSI is not qualifying income.
Taxpayers (and spouses) must have a valid Social
Security number to
qualify for the payments.
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