Bayfield County Tax Stimulus Information
To help spur a slowing economy, the IRS will send economic stimulus checks to over 130 million households beginning in May, 2008 and continuing through the summer. Up to 20 million Americans who rely primarily on Social Security Income qualify for a stimulus check.
In March, the Internal Revenue Service (IRS) will mail forms to millions of households eligible for the stimulus payment. Most people will receive their payment simply by filing their 2007 federal income taxes as usual. Individuals who do not normally file a federal income tax return because their income is below the required level must complete a simple IRS 1040A form to receive their stimulus payment. These individuals may be eligible for a payment as long as they received at least $3,000 in 2007 from Social Security, Veterans Affairs, Railroad Retirement or a combination of these, along with any earned income. Congress excluded Supplemental Security Income (SSI) and therefore, SSI does not count towards the $3,000 minimum. SSI recipients who had at least $3,000 in income from other sources can qualify for the stimulus payment. Eligible individuals can receive a credit of at least $300 and eligible couples can receive at least $600.
The IRS will mail 1040A forms to households in late March. The forms also are available at most public libraries and post offices as well as on the IRS Website. The IRS will start mailing rebate checks in mid-May 2008. Checks will be mailed by the IRS based upon the last two digits of a filers' Social Security Numbers; checks will not be mailed on a first-come, first-come-first-served-basis. Everyone who qualifies for the stimulus check will receive one by the end of 2008 if they file a federal income tax form by October 15, 2008. No stimulus checks will be issued after the end of 2008.
Free tax assistance is available through the Volunteer Income Tax Assistance (VITA) program located at the Red Cliff Chippewa Housing Authority at (715) 779-3744. VITA provides help to lower income tax payers. Your Elderly County Benefit Specialists will NOT be able to assist you in completing your federal income tax forms for this stimulus check program so please refer to the instructions that are provided in the IRS packet of information. If you need information in the interim you can visit the IRS web site at www.IRS.gov.