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Many North Escambia Residents Receiving Notices From IRS
March 11, 2008
You may soon receive a notice in your mailbox from the IRS. But not to worry, you are not alone. Thousands of North Escambia residents have or will soon receive the notices from the IRS.
The Internal Revenue Service letters are just to remind you to file a 2007 tax return in order to receive a 2008 economic stimulus payment.
The mailings by the IRSwill continue throughout the month. The informational notice, titled “Economic Stimulus Payment Notice”, alerts people that they may be eligible for a one-time stimulus payment of up to $600 ($1,200 married filing jointly) starting in May. There also is a $300 per child payment for qualifying children younger than 17.
“These special letters remind people that they won’t need to do anything more than file a 2007 tax return in order to put the stimulus payment process in motion,” Acting IRS Commissioner Linda Stiff said.
The notice is informational and does not seek any financial information. The main mailings, which will take place in three weekly batches, will go to taxpayers who filed a tax return last year.
“To receive a payment in 2008, individuals who qualify will not have to do anything more than file a 2007 tax return. The IRS will determine eligibility, figure the amount and send the payment,” the notice states. “This payment should not be confused with any 2007 income tax refund that is owed to you by the federal government. Income tax refunds for 2007 will be made separately from this one-time payment.”
However, some people must take an extra step this year to receive a stimulus payment. In late March, the IRS will send a special mailing to certain recipients of Social Security and Veterans Affairs benefits. Generally, those benefits are nontaxable and recipients do not file tax returns. In order to receive a stimulus payment, people in this group need to file a tax return if they have at least $3,000 from a combination of certain Social Security benefits, Veterans benefits and earned income. The minimum stimulus payment for these people is $300 ($600 for married filing jointly).
Pictured above: An example of the IRS notices being mailed.
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