I was amazed today when I learned that the Internal Revenue Service (IRS) says that as many as four million American individuals had yet to collect their 2007 stimulus check. As you may recall, the IRS issued checks ranging from $300 to $1200 based on paying taxes in 2007. Those funds were distributed in Spring 2008 and helped to ease financial pressures for millions of Americans.
The reason why so many people haven’t received their checks is because they either didn’t file their taxes for 2007 or, in some cases, their contact information was incorrect. Fortunately, time hasn’t run out for these unclaimed funds with the IRS reminding people that they can still collect their money.
Eligible single filers will receive a payment of at least $300 to as much as $600 if they file. For married couples payments range from $600 to $1200. Again, if you want to receive a check, you must file a tax return.
Not everyone who files a return had to have made a whole lot of income in 2007 to qualify for a stimulus check. The IRS says that the following people are available for a check:
- Anyone who has received at least $3000 in Social Security benefits.
- Recipients of veteran benefits.
- Railroad retirement beneficiaries (certain restrictions apply).
- A low wage worker who made at least $3000 in 2007.
If your income in 2007 was reported to be under $3000 but believe that your income was under reported, you can still amend your return to hit the minimal level and be eligible to receive your check. You can file an amended return by visiting www.irs.gov where you can also learn about the economic stimulus program and how you can claim your check.
IRS employees will help prepare Form 1040A returns for low-income workers, retirees, disabled veterans and others at IRS Taxpayer Assistance Centers. For a list of centers in your state and their hours of operation, visit “Contact My Local Office” on the IRS website.
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