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Consumer
New tax deadlines for disaster victims stimulus payment
WASHINGTON (7/28/08)--Disaster victims in seven states have until Aug. 29 to meet certain tax requirements, and persons who qualify but haven’t yet filed for their 2008 stimulus payment have until Oct. 15 (IRS.gov July 14 and 18). Here are the specifics:
* Disaster victims. Victims who reside in counties declared presidential disaster areas in Indiana, Iowa, Illinois, Missouri, Nebraska, West Virginia, and Wisconsin have more time--until Aug. 29--to file certain tax returns and to make certain tax payments. For more information for your state, visit irs.gov and search “disaster Aug. 29”; * Stimulus payment. More than five million people--retirees, disabled veterans and low-wage workers who normally don’t file a tax return--haven’t filed for an economic stimulus check, even though they’re eligible (USA Today June 23). To get the stimulus payment, however, you must file a tax return. It’s not too late. File your 2007 tax return by Oct. 15 if you have at least $3,000 in qualifying income, which includes any combination of earned income, nontaxable combat pay, and certain payments from Social Security, Veterans Affairs, and Railroad Retirement. For more information, visit irs.gov and type “stimulus payments it’s not too late” in the search box.
For more information, read “Compile Your Financial Notebook” in Plan It: Retire Ready Toolkit.
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