Deadline to File Your 2007 Taxes is Rapidly Approaching - AND You Get Your Economic Stimulus Check
October 15, 2008, is the deadline to file your 2007 IRS tax return if you applied for and received an extension last April. It is also the deadline to claim your economic stimulus check.
If you are a retiree or disabled veteran and you normally don’t file a tax return, you must file a tax return to qualify for your $300 check (you also receive $300 for each qualifying child you have).
If you are a retiree or disabled vet, you must have at least $3,000 in qualifying income from earned income, nontaxable combat pay or certain benefits from Social Security, Veterans Affairs and Railroad Retirement.
Qualifying income from Social Security includes retirement, disability and/or survivor benefits. Qualifying income from Veterans Affairs includes disability compensation and/or pension and/or survivor benefits. Dependents or those eligible to be dependents on someone else’s tax return are not eligible for an economic stimulus payment.
To qualify for your payment you also must have a valid Social Security Number unless your spouse is a member of the military.
The IRS can’t give out any economic stimulus payments after Dec. 31, 2008. However, if you are eligible for an economic stimulus payment, you can claim a credit in 2009 by filing a 2008 income tax return.
If you have filed your 2007 tax return but who have not received your economic stimulus payment, you can check on the status of your check by going to the IRS.gov Web site and clicking on the link entitled: “Where Is My Economic Stimulus Payment.”
Remember, you must file your tax return by October 15. And in this economy, couldn’t you use an extra few hundred dollars?
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