Legal notice: Economic stimulus payments

  • Published
  • By the RAF Mildenhall Legal Office
  • 100th Air Refueling Wing
Starting in May, the Treasury will begin sending economic stimulus payments to more than 130 million households. 

To receive an economic stimulus payment, taxpayers must have a valid Social Security number, $3,000 of qualifying income and file a 2007 federal income tax return. Once the member files their tax return, the IRS will take care of the rest. 

Eligible people will receive up to $600 ($1,200 for married couples), and parents will receive an additional $300 for each eligible child younger than 17. 

Millions of retirees, disabled veterans and low-wage workers who normally do not need to file a tax return must do so this year in order to receive a stimulus payment. 

People filing only to receive the economic stimulus payment do not have to file by April 15 and they do not have to file a Form 4868 for an extension. These people must file Form 1040A, though, by Oct. 15 to receive the payment in 2008. 

Remember, a delay in filing your tax return will also delay your receipt of your economic stimulus payment, if you qualify to receive one, since payments are based on the tax return. 

File Electronically; take advantage of e-filing, which is fast, accurate and easy. Those who choose direct deposit will get their refund in even less time and receive their economic stimulus payments sooner as well.