Advisory About Economic Stimulus Payments

By: AARP.org  | Source: AARP Tax-Aide  | Date Posted:

Economic Stimulus Tool

Need help filling out your tax form for the economic stimulus payment? Use our online tool.

Tax Resources

Should you require additional assistance, you can:

1. Go to the IRS Web site, www.irs.gov. There is a page devoted to news about the stimulus payments.

2. Call the IRS at 1-866-234-2942.

3. Visit an IRS Taxpayer Assistance Center (TAC) by calling 1-800-829-1040 and ask for the closest site near you.

In March, more than 130 million American households received IRS letters giving them general information about the economic stimulus payments. The letters also advised Americans that to receive a 2008 stimulus payment, they had to file a 2007 tax return.

Taxpayers who already filed using a 1040 Form to comply with the April 15 filing deadline do not need to do anything extra to receive their one-time economic stimulus payment.

A separate IRS mailing was sent in late March to people who no longer file tax returns—certain recipients of Social Security and veterans disability benefits—explaining what they will need to do to receive their one-time economic stimulus payment and providing the necessary guidance and forms.

There is plenty of time to get help and apply for the payment. April 15 is NOT the deadline for those who no longer file tax returns. The deadline for the economic stimulus payment form will likely be sometime in the fall of 2008.

People who do not need to file a tax return, but received at least $3,000 from Social Security benefits, veterans benefits, certain railroad retirement benefits and/or earned income in 2007, must submit a simplified version of a 1040A tax form to the IRS in order to receive a stimulus payment. The minimum payment for this group will be $300 for an individual and $600 for a couple filing jointly.
 
This payment has nothing to do with income tax refunds. But for those who do file, the IRS will start mailing economic stimulus payments in May based on Social Security numbers (please see table below).

Income tax refunds will be made separately from the stimulus payments.

All communications will come from the IRS in writing. Avoid providing information to organizations or people who communicate in other ways. The IRS will never call or e-mail asking for your Social Security number or bank account information.

The IRS will never send a letter or e-mail asking for a response by phone or e-mail. IRS agents will not ask to come to a person’s home for the purpose of an economic stimulus payment.

Never pay anyone or go through a third-party intermediary to apply for or speed up the payment process.

Always contact the IRS directly with any questions. To do that, you can call toll free, 800-829-1040 or go to the agency’s Web site, www.irs.gov

The economic stimulus payment will be issued based on the last two digits of your Social Security number and whether you are receiving the payment by direct deposit or mail.

DIRECT DEPOSIT
Last two SSN digits: Payment will be transmitted:
 00 through 20  April 28
 21 through 75  May 5
 76 through 99  May 12

 

 




PAPER CHECK
 Last two SSN digits:  Payments will be mailed by:
 00 through 09  May 9
 10 through 18  May 16

 19 through 25

 May 23
 26 through 38  May 30
 39 through 51  June 6
 52 through 63  June 13
 64 through 75  June 20
 76 through 87  June 27
 88 through 99  July 4









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