Gregg Seminack, IRS spokesman
It is not too late to file a return to claim an economic stimulus payment.
The IRS urges people to file by Oct. 15 to ensure they receive a payment prior to year’s end. Keep in mind it can take up to eight weeks for the IRS to process the return and issue the payment.
People must file a 2007 tax return in order to qualify and be eligible for a stimulus payment. The Internal Revenue Service will continue processing tax returns and issuing economic stimulus payments for much of the year.
For people who have no tax liability or no tax filing requirement, there is a minimum payment of $300 ($600 for married couples), plus the $300 for each qualifying child.
To be eligible for the minimum payment, individuals must have at least $3,000 in qualifying income.
Qualifying income includes any combination of earned income, nontaxable combat pay and certain benefit payments from social security, Veterans Affairs and railroad retirement. People who have no tax liability or no tax filing requirement only need to file a simple form 1040A.
In New Jersey as of mid-June, about 157,000 retirees and disabled veterans were estimated to have not yet filed to claim their stimulus payment, which equates to about 31 percent in this group.
Remember, all people need to do is file a 2007 tax return. That’s it. We’ll do the rest.
Please visit www.irs.gov for details.
Gregg Semanick
IRS spokesperson
Mountainside, N.J.
