July 2, 2008, WASHINGTON – More than 5.6 million Social Security beneficiaries and veterans are eligible to receive an economic stimulus payment from the Internal Revenue Service if they file income tax returns by October 15, announced U.S. Rep. Bart Gordon.
“Many seniors, veterans and low-income workers have no tax liability with the IRS and are not usually required to file an income tax return,” said Gordon. “But they are still eligible to receive economic stimulus payments from the IRS if they file returns by October 15.”
In February, Congress passed the Economic Stimulus Act, which provides a minimum payment of $300 for most taxpayers with earned income of at least $3,000, including those with certain Social Security, Railroad Retirement and veterans’ benefits. Married taxpayers filing joint returns are generally eligible for at least $600.
The paperwork filled out by sending in a tax return is what allows the IRS to process a rebate check. That is why disabled veterans, seniors on Social Security and others without tax liability must file a tax return in order to receive a stimulus payment.
“Our nation’s economy needs a jumpstart,” said Gordon. “Many Americans – especially those on fixed incomes – are struggling with rising energy and food costs, and they need temporary relief.”
Gordon said signing up for direct deposit when filling out the IRS paperwork will ensure filers get their stimulus payments faster because checks sent by mail require additional processing time.
For more information on the economic stimulus payments, contact the IRS at www.irs.gov or 1-866-234-2942, or contact Gordon’s Murfreesboro office at (615) 896-1986.