Millions Have Yet To File For Economic Stimulus Payments
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Large numbers of eligible seniors who do not normally file a tax return have thus far failed to file for this year’s special economic stimulus payments of $300 for an individual and $600 for a married couple. The deadline for filing is October 15, 2008.
There are several reasons why people may not have filed. Some may erroneously think they are not eligible. Yet all that is required is $3,000 in gross income for 2007. This means that someone would qualify even if their only income is a $250 monthly Social Security benefit.
Still others may fear a negative impact on their SSI, Medicaid, Veterans or Food Stamp benefits. Yet these payments do not count as income for any of these programs and an individual has at least two months to spend the stimulus payment before they can be counted as a resource.
Others may think that it is simply too difficult to file a tax return. Yet the form they have to file is a very simple one, the IRS Form 1040A.
In addition, numerous organizations are providing assistance in filling out these forms. The Center on Budget and Policy Priorities is coordinating a national outreach campaign to encourage and assist more people in filing. The Center has a flier available on its website for use in outreach campaigns. It is available in English as well as in Spanish, Chinese, Italian, Vietnamese, Russian, Korean and Tagalog.
Find out more on the Center's website: http://www.cbpp.org/stimuluspayment2008/outreach.htm