Government To Begin Sending Stimulus Payments This May
Those on Social Security Benefits May Qualify; Must Sign Tax Return

More than 130 million households will receive an economic stimulus check from the federal government this spring. Individuals will receive between $300 and $600, and married couples will receive $600 to $1,200, according to the Internal Revenue Service (IRS). Families with children will receive an additional $300 per child younger than 17.

Those with a Social Security number and showing qualifying income of at least $3,000 on a federal tax return are eligible for the payments. People who filed a 2007 income tax return, or will file one by October, do not need to do anything else to qualify for the payment. The Internal Revenue Service will calculate the amount of each payment and mail checks automatically.

Many people, such as those on Social Security, low income workers, and those on veterans' disability benefits, who normally do not file a tax return, are also eligible, and this year must sign and mail in tax form 1040A to receive their payment.

A sample of the tax form is available online that shows what lines must be filled out to receive a payment, and complete instructions are available at www.irs.gov. It is not mandatory to file by April 15, but early filing is encouraged by the IRS. Payments will not be mailed until tax forms are received.

The economic stimulus payments are not taxable and will not reduce 2007 refunds or increase taxes owed in 2008.