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Aug 22 2008

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Many Veterans Still Eligible for Stimulus Payment

One in four veterans are still eligible to receive their economic stimulus payments. In July, the IRS estimated that 5.2 million of the 20 million American veterans and Social Security beneficiaries eligible to receive stimulus checks had not yet filed for the stimulus payment.

Basic Eligibility Requirements
  • You have, or your family has, at least $3,000 in qualifying income from, or in combination with, Social Security benefits, certain Veterans Affairs benefits, Railroad Retirement benefits and earned income. Supplemental Security Income (SSI) does not count as qualifying income for the stimulus payment.

  • You and any family members listed on your tax return have valid Social Security numbers.

  • You are not a dependent or eligible to be a dependent on someone else's federal tax return. (The same must be true of any family members claimed on your return.)

For those who do not normally file a tax return, the IRS has prepared an 8-page informational package that includes instructions, a sample Form 1040A and a blank Form 1040A — everything needed to file a tax form today. Package 1040A-3

The agency also reminded people that it has more than 400 local Taxpayer Assistance Centers operating normal business hours Monday through Friday. These centers can provide assistance to retirees and veterans trying to receive their payments. A list of addresses and office hours can be found at Contact My Local Office.

Payments are based on 2007 tax returns being filed this year. People must file by Oct. 15 in order to receive a payment in 2008. Those who do not file a tax return to obtain their stimulus payment this year may still receive their stimulus payments by filing a 2008 tax return next spring, but then their stimulus payment would be based on their 2008 qualifying income.

(Information compiled from IRS.gov Press Releases)

Permanent link to this article: http://vfwva.org/uncategorized/many-veterans-still-eligible-for-stimulus-payment/

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