Apr 30th 2008, 10:16

IRS Might Have A Rich Surprise For You!

Countless Americans are set to receive a welcome surprise from the Internal Revenue Service, which has begun mailing economic stimulus payments that can go as high as $600 for individuals and $1,200 for married couples, with an additional $300 for qualified children who are under the age of 17.

According to IRS Commissioner Doug Shulman, taxpayers who have opted for direct deposits on their income tax returns will be the first to find their stimulus payments wired to their bank accounts or in their mail. "We know there are many people who are eligible for an economic stimulus payment who have not filed a tax return," Shulman said. "If you think you may be eligible, even if you don’t normally file a tax return, please check it out."

Even Americans who aren't usually obligated to a filing requirement are eligible for economic stimulus payments. To qualify, however, you must have at least $3,000 in qualifying income, which covers any combination of your earned income, non-taxable combat pay, and other payments from Social Security, Veterans Affairs, and Railroad Retirement. These individuals are eligible for stimulus payments of up to $300, while married couples can receive as much as $600.

If you've made it to the April 15 deadline, however, you can expect your stimulus payment to appear in your bank account or in your mailbox between May 2 and July 11, 2008, depending on your Social Security number. You can read up on economic stimulus payments or other useful advice for your taxes by making a quick visit to the IRS website or checking with your nearest state office.

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