Tax Return and Economic Stimulus Payments

In February the government approved the economic stimulus payment plan. Anyone with income of $3000 or more may be eligible to receive the payments.

Most Social Security recipients who normally do not file a tax return will have to file one for 2007 in order to get the economic stimulus payment. If you or someone you know is in this situation you need to check out the following website: http://www.irs.gov/newsroom/article/0,,id=179211,00.html.

The above site gives the eligibility requirements and what you have to do to file taxes for 2007. If the tax return is filed by April 15, then the stimulus payment is suppose to be sent out sometime in May.

There are only 5 weeks left to file your tax return. Now is the time to work on it.

Today’s quote:

“The point to remember is that what the government gives it must first take away.” ~John S. Coleman, address, Detroit Chamber of Commerce, 1956

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