The IRS Free File program is now available to help individuals file their 2007 tax returns even if they normally don't file one but must do so this year in order to receive their 2008 economic stimulus payment. If you're not legally required to file a tax return but choose to file to receive your economic stimulus payment, the IRS and the Free File Alliance can now accept your return. Make sure you only use companies listed on the Free File - Economic Stimulus Payment: http://www.irs.gov/uac/IRS-Free-File-Now-Available-for-Nonfilers-Who-Must-File-a-Return-to-Receive-Economic-Stimulus-Payment.
'If you are only filing a return to receive your economic stimulus payment, Free File is a great option for you. All you need to do is follow the simple instructions provided by the software. It's easy, and it's free,' said Acting IRS Commissioner Linda E. Stiff. If you have at least $3,000 of income from any combination of the following, you qualify for the economic stimulus payment: Earned income, Social Security retirement or disability benefits, certain Railroad retirement benefits, or disability compensation, disability pension, or survivor benefits paid by the Veterans Affairs. The minimum economic stimulus payment is $300 for individuals and $600 for married couples. Individuals are eligible to receive payments up to $600 and married couples ($1,200) but you must file a tax return to give the IRS your name, address and eligibility. If you have children under the age of 17 you may also qualify for a payment of $300 for each eligible child, but valid Social Security numbers are required.
IRS Free File is just a few answers away with a simple form and is available at no charge to 97 million taxpayers who earn $54,000 or less. If you normally file a tax return and want to use Free File, go to Free File's main page and click 'Start Now' to see a list of the 19 companies offering free preparation and electronic filing to the IRS. Want your economic stimulus payment deposited immediately? Sign up for direct deposit using your checking or savings account. Not only will you receive your payment right away, it's free!May is the month to start looking for your tax return. Just get it filed and the IRS will do the rest!
These free resources should not be taken as tax or legal advice. Content provided is intended as general information. Tax regulations and laws change and the impact of laws can vary. Consult a tax advisor, CPA or lawyer for guidance on your specific situation.