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Moore alerts constituents of federal stimulus payments
March 26, 2008 ... In order to receive a stimulus payment from the Internal Revenue Service, all taxpayers with qualifying income of at least $3,000 in 2007 must file tax returns, according to Sen. Richard T. Moore, D-Uxbridge. “It is important that those who are eligible file their tax returns this year, even if they normally do not file, to ensure they receive their due payment,” said Moore. “There are millions of Americans that do not usually file, but not doing so could result in losing $600 or more from the federal government.” Those who may be eligible includes some recipients of Social Security, Railroad Retirement or veterans' benefits as well as taxpayers who do not make enough money to normally have to file a 2007 tax return. For example, this can include low-income workers, those who receive Social Security benefits or veterans’ disability compensation, pension or survivors’ benefits from the Department of Veterans Affairs in 2007. These people will be eligible to receive a payment of $300 ($600 on a joint return) if they had at least $3,000 of qualifying income. Qualifying income includes Social Security benefits, certain Railroad Retirement benefits, certain veterans’ benefits and earned income, such as income from wages, salaries, tips and self-employment. For people filing joint tax returns, only a total of $3,000 of qualifying income from both spouses is required to be eligible for a payment. All recipients are encouraged to file these returns by the April 15th deadline. |
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