DON’T LET THIS MONEY PASS YOU
Economic Stimulus Payments...
It’s Not Too Late To File
By D’Juna Doby, President/CEO
A-1 Tax Advantage
Orlando, Florida
There’s still time to file and claim
your economic stimulus payment.
The IRS will continue processing
tax returns and issuing stimulus
checks for much of the year.
Social Security recipients and veterans who don’t normally need to
file returns, as well as people who
received extensions for filing,
should file by Oct. 15, 2008, to make sure they receive a payment
before the end of the year.
You May Still Be Able To Get The Money
8
The Christian Reader September 2008
If you have not yet filed a tax return, you’re eligible if you have a valid
Social Security number (SSN), can’t be claimed as a dependent on a
tax return and have either an income tax liability or “qualifying
income” of at least $3,000. Qualifying income includes any combination of earned income and certain benefits from Social Security,
Veterans Affairs or Railroad Retirement. Supplemental Security
Income (SSI) –disability- does not count as qualifying income for the
stimulus payment.
Both people listed on a “married filing jointly” return must have valid
SSNs to qualify for the payment — if only one has a valid SSN, neither can receive the payment.
Calculate How Much You May Get
* Eligible individuals — between $300 and $600
* Joint filers — between $600 and $1,200
* With eligible children — an additional $300 for each qualifying child
To qualify, a child must be eligible under the child tax credit and have
a valid Social Security number.
The payments phase out at certain income levels, so those with higher
incomes may receive a reduced payment or even no payment. If you
choose direct deposit when you file your tax return, the stimulus payment will go right to your bank account. Otherwise, A check will be
mailed to your address you put on the form. It will most likely take
eight around weeks after you file your return to get your stimulus payment.
Don’t let this money pass you by. If you have not already filed to get
your payment and have a questions, contact us at:
A-1 TAX ADVANTAGE
1310 W. COLONIAL DRIVE STE#3
ORLANDO, FL 32804
407-422-4404