More Information on Stimulus Payments - New Details for Recipients

**tspforretirement** · 02-21-2008, 12:35 AM

IR-2008-21, Feb. 15, 2008

WASHINGTON — The Internal Revenue Service released additional information today about the upcoming economic stimulus payments in a specially designed section for taxpayers on IRS.gov.

The new information includes an extensive set of Frequently Asked Questions about the stimulus payments, with a special emphasis on recipients of Social Security and certain veterans’ benefits. Millions of people in this group who normally don’t file a tax return will need to do so this year in order to receive a stimulus payment.

For recipients of Social Security and certain veterans’ benefits and low-income workers who don’t normally need to file, the IRS also released a special version of a Form 1040A that highlights the simple, specific sections of the return that can be filled out by people in these categories to qualify for a stimulus payment.

The rest of the article and more data about the stimulas package can be found at the IRS website:

Rest of the Article:
http://www.irs.gov/irs/article/0,,id=179182,00.html
More Data:
http://www.irs.gov/newsroom/index.html

**grandma** · 11-17-2009, 05:40 PM

The Lord giveth, the Lord taketh away - a phrase often used friviously by whomever for whatever reasons...
We have in our presence one who is striving to imitate.

-one of today's press releases is a reminder to all that more than 15 million taxpayers, including Soc Sec recipients, may find they owe the IRS $250 or more (depending on wages, marriage status, etc.) d/t "the signature tax break in the stimulus package enacted in February." per AP, Bloomberg, & Democrat-Gazette Press Services. It is an extensive article; if you haven't changed & need to quickly change your W-4, you have a very short time to accomplish this. A member of the Senate Finance Committee "called problems with the tax credit another unfortunate example of what can happen when Congress and the White House rush through legislation like the stimulus without thinking through the consequences." Since this tax credit is also available in 2010, workers will need to consider adjusting their w/h for next year, also. The IRS, in a separate estimation, thinks about 65,000 taxpayers could face penalties for Not withholding enough in 2009 because of the Making Work Pay tax credit.
Hopefully, all of our TSP'ers took to heart `tspforretirement's above post in February !!!

**WorkFE** · 11-17-2009, 05:59 PM

There excuse was we have no way of knowing if a social security recipient is also working a job or If both spouses are working. Why, you have our tax returns you dumb @$$e$