Q. Could you help me? I read in the paper about money we are supposed to get from the government to stop this depression. I was told that since I was retired and because of my low income, I don’t need to file a tax return. How do I get my check from the IRS.
A. First of all, I must correct you in that we are not in a depression, as a matter of fact; technically we are not even in a recession. My understanding is that the government thinks we might go into a recession so they are sending checks.
Having said that, you most likely still will qualify for a refund of taxes even though you are not paying any taxes. The government is working on a method to solve your problem.
A. First of all, I must correct you in that we are not in a depression, as a matter of fact; technically we are not even in a recession. My understanding is that the government thinks we might go into a recession so they are sending checks.
Having said that, you most likely still will qualify for a refund of taxes even though you are not paying any taxes. The government is working on a method to solve your problem.
For recipients of Social Security and certain veterans’ benefits, and low-income workers who don’t normally need to file, the IRS has released a special version of a Form 1040A that highlights the simple, specific sections of the return that can be filled out by people like yourself to qualify for a stimulus payment.
“Most taxpayers just need to file a 2007 tax return in order to automatically receive the stimulus payment,” said Acting IRS Commissioner Linda Stiff. “But we are especially concerned about recipients of Social Security and veterans’ benefits who may need to take special steps this year to file a tax return in order to obtain a stimulus payment. IRS.gov will help taxpayers get what they need.”
There is a Frequently Asked Questions section – accessible through the front page of http://www.irs.gov/ -- includes an extensive set of information for all taxpayers with questions about the stimulus payments, commonly referred to as rebates. The questions and answers include important information for low-income workers and certain recipients of Social Security, Railroad Retirement benefits and veterans’ benefits.
The special IRS.gov section also features extensive examples of how much taxpayers can expect to receive in stimulus payments. The page includes more than two-dozen payment scenarios affecting different types of taxpayers.
The IRS will begin sending taxpayers their economic stimulus payments in early May, after the current tax season concludes. In most cases, the payment will equal the amount of tax liability on the tax return, with a maximum amount of $600 for individuals ($1,200 for married couples who file a joint return). Payments to more than 130 million households will continue over several weeks during the spring and summer. A payment schedule for taxpayers will be announced in the near future on www.IRS.gov.
