| 2/20/08: Kanjorski Discusses with Seniors How to Receive Stimulus Cash Payments |
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Seniors on Social Security Must File for Benefits SCRANTON - Today, Congressman Paul E. Kanjorski (PA-11) visited the West Side Senior Center in Scranton to help ensure that senior citizens know how to obtain cash payments from the economic stimulus package. Seniors and veterans who receive the majority of their incomes from Social Security and/or veterans benefits must file for these payments in order to receive them. "Our nation's seniors and disabled veterans are facing difficult economic times. For years, these men and women have been forced to survive on less and less as their costs continue to increase and their income remains the same," said Congressman Kanjorski. "I am grateful to have been able to work effectively with Congress to include senior and disabled citizens in the economic stimulus package, providing them with much needed relief." What is the stimulus package? Congress passed the economic stimulus package on February 7 and President Bush signed it into law on February 13. Citizens will receive cash benefits starting in May 2008 aimed to boost the economy and help people with their finances. Congressman Kanjorski helped lead the successful effort in the U.S. House of Representatives to include cash benefits for 20 million additional senior citizens and 250,000 additional disabled veterans nationwide who would have otherwise been excluded from the stimulus package. How much are the payments? In most cases, payments will range from $300 to $600 for individuals and $600 to $1200 for joint filers. Those eligible for the payments will also receive an additional $300 for each qualifying child. How do I know if I am eligible to receive payments? Taxpayers who earned a minimum of $3,000 in 2007 will automatically receive payments. Additionally, many senior citizens who did not file tax returns may also now qualify for payments from the economic stimulus package. Seniors and veterans who did not file tax returns but received Social Security and/or veterans benefits, which equal or exceed $3,000, could be eligible for payments from the stimulus package. Though, if this is the case, you must file a tax return in order to receive these payments as they will not automatically arrive. For example, a taxpayer who has $500 in earned income and $2,500 in Social Security or veterans benefits could receive a payment from the stimulus package because the total earned income meets the $3,000 requirement. This person just must remember to file a tax return to receive the payment. How do I file to receive payments from the economic stimulus package? If you were not required to file a 2007 tax return, but you are eligible to receive payments from the economic stimulus package (see previous question to determine eligibility), you must file a tax return in order to receive your payments. To file for your payments, you must report your total income, including Social Security and/or veterans benefits, to the Internal Revenue Service (IRS). You should file a tax return reporting these benefits on Line 14a of Form 1040A or Line 20a of Form 1040 to establish your eligibility for payments. What if I already filed a 2007 tax return? If you already filed a tax return, then you do not need to fill out any other forms. Your payments will automatically arrive. If you already filed a tax return but need to include your Social Security or veterans benefits to reach the $3,000 qualifying limit, you will need to submit IRS Form 1040X which will amend your tax return to include all of your benefits. What if I have questions? If you have questions, there are many free tax preparation sites nationwide that can help you.
You can also contact Congressman Kanjorski's office if you have questions at 570-825-2200. ### Click here to find a fact sheet with details on the economic stimulus package. |