STIMULUS PAYMENT
Well the government has done it again. Giving out money but at a great expense to the taxpayer. The IRS knows who receives Soical Security and Pensions that are under the limit to not have to file a tax return. They just sent them all a package - at a great dollar expense - to tell them in order for them to receive their money they must have a tax return - zero reportable income and zero tax due Just send them their money!!!!!! IS THE IRS HOPING THAT WE DO NOT SEND IT IN AND THEREFORE THEY DON'T HAVE TO SEND THE MONEY? But how much money did they waste sending out the first notice and another notice will follow. How much confusion have they caused they taxpayer because even if the seniors have already filed a tax return for 2007, they received a notice that they need to file another return to receive this money. That is not true. ONE TAX RETURN PER PERSON/MARRIED COUPLE.
I totally understand it is a way to make those who procrastinate or have not filed in a few years to catch up. It is a way for the government to receive money due them from those filers - or PAY OUT all of the refunds, with interest. Yes, if the governement owes you money from previous years, even if you did not file until now, they will pay you interest. And yest it is reportable interest in the year you receive it. But leave the seniors and disabled alone and send them the money!!!!! Do you know how many of them will have to pay to have someone write their name and social security number on the page and a few other lines? ANother rack for the deceitful. It will take less than 5 minutes. And even if they happen upon an IRS Site that is offering the service for free - They have to get in the car, use gas that costs $3.00 + per gallon, and wait in a very long line to have a form filled out that takes less than 5 mins. THE GOVERNEMENT GIVETH AND THE GOVERNMENT TAKETH!!
If you have back years to complete make sure 2007 is done by April 15th (October 15th if you do not have to file). Get your money and then catch up opn the previous years. If you are due a refund from tax year 2004, you must file by 4/15/08 or you will lose the refund.