Deadline today to apply for Economic Stimulus Payment - KWWL - Eastern Iowa Breaking News, Weather, Closings

Deadline today to apply for Economic Stimulus Payment

WATERLOO (KWWL) - The deadline arrives to get the Economic Stimulus Payment.  Anyone who does not file a 2007 tax return before the Oct. 15 deadline will not receive a stimulus check.

As of October 6, more than 37,000 potentially eligible Iowans had not yet filed to receive a payment. Most of those consisted of retirees and veterans. These are individuals who normally don't file a tax return but will have to do so now in order to receive a stimulus payment this year.

"Don't let the economic stimulus payment pass you by," said IRS Commissioner Doug Shulman. "If you want the payment this year, you should file by Oct. 15. We recognize that there may be older Americans and disabled veterans who still have not filed for their stimulus payment. If you know of a friend, neighbor or family members who may be in that situation, please give them a hand if they need it."

For eligible individuals, the Economic Stimulus Act of 2008 provided for stimulus payments of up to $600 ($1,200 for married couples) or the amount of the taxpayer's 2007 net income tax liability, whichever is less.  There also is a $300 payment for each qualifying child.

As of the end of September, the IRS has issued $94 billion in economic stimulus payments to nearly 116 million individuals and families.

Click here for more information about the deadline.

Online Producer: Mike Verlo

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