July 2008                                                        Newsletter--p.2

...From Leigh

   

 Many eligible retirees and disabled veterans have not filed for tax stimulus paymentThe IRS said last week that more than 5 million retirees and disabled veterans who are eligible for a piece of the $152 billion economic stimulus package have failed to take the steps necessary to get their tax-rebate checks. There's still time to get your money. But you need to file a tax return by Oct. 15, even if you haven't filed a tax return since gas cost less than $2 a gallon.  Under the law enacted this year, most taxpayers are eligible for rebate checks of $600, or $1,200 for married couples, plus $300 for dependent children. Most of them will receive their checks automatically, based on information from their 2007 tax return. So far, the IRS has sent out 76.5 million payments worth $63.8 billion.  Individuals who receive Social Security, veterans benefits or Railroad Retirement benefits are eligible for a $300 tax rebate ($600 for married couples), as long as they earned at least $3,000 in qualifying benefits, earned income, or a combination in 2007. To qualify for the rebate, though, you must file a 2007 tax return — even if you didn't owe any federal taxes last year.