The Deadline to File for Economic Stimulus Payments is October 15

The deadline to file a 2007 income tax return in order to receive an Economic Stimulus Payment is approaching. All returns must be filed by October 15 in order to receive a payment this year.

Congress passed legislation to issue Economic Stimulus Payments in an effort to provide a needed boost to the sagging national economy. To receive a payment, individuals or couples must have filed an income tax return with the IRS, even if their income for 2007 was below the level that required them to file. Since the deadline for those required to file was April 15, most tax returns have been processed and stimulus payments disbursed. However, there are still thousands of citizens, primarily those receiving social security or veterans benefits, who have not filed and have not received their payments.

It is important to note that you should only file one tax return for 2007. The IRS is reporting that people are filing multiple returns, one for their tax filing and another to receive the Economic Stimulus Payment. This only delays processing.

If you expected to receive a payment but have not received it yet, the IRS has a web site, When Will I Get My Stimulus Payment? For general information concerning the stimulus payments go to the Stimulus Payments page on the IRS web site.