July 18, 2008
This section is for people who filed Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return.
For those who filed for an extension, the deadline for filing a tax return is Oct. 15, 2008. Extension filers must use either Form1040 or 1040A.
Filing the tax return is also the way to claim your economic stimulus payment, if you’re eligible for one. It will generally take a minimum of eight weeks after you file your return to get your stimulus payment.
If you’re due a refund, you can choose to receive it by direct deposit into a financial account, in which case your stimulus payment will later be deposited electronically to the same account. You can choose direct deposit even if you’re not due a refund or your return shows a balance due. If you don’t choose direct deposit, you will receive a paper check.
If you have a tax liability, you probably qualify for an economic stimulus payment. Even if you don’t, you qualify if you receive certain kinds of income. See Basic Information about Economic Stimulus Payments for details.
Stimulus Payment Examples
The eligibility for and amount of stimulus payments to taxpayers will vary according to their income and family situations. There are various examples for you to review.
Phase-out
The payments phase out at certain income levels, so those with higher incomes may receive a reduced payment or even no payment.
Free Tax Help Available
Free File is the fast, easy and free way to file your federal income tax return. If your adjusted gross income was $54,000 or less in 2007, you can use Free File to prepare and e-file your taxes online.
IRS employees will help prepare Form 1040A returns for low-income workers, retirees, disabled veterans and others at IRS Taxpayer Assistance Centers. For a list of centers in your state and their hours of operation, Contact My Local Office.
For more information, see:
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