More than 130 million Americans will receive economic stimulus payments this May from the U.S. Treasury, in an effort to boost spending and improve the economy. Among them are 20 million retirees, disabled veterans, certain railroad retirement recipients and low-wage workers that do not file taxes on a regular basis, but will have to this year in order to receive this benefit.
In an effort to reach them, the IRS will be sending out an "Economic Stimulus Payment Notice" that includes instructions and the 1040A form that they will have to file and send back to the IRS before October 15th, 2008. The form will ask for basic information like their name, their address and their social security number. To qualify, the person must have a valid social security number and an income of at least $3,000. The minimum stimulus payment is $300 for a single person and $600 for a married couple if they file together.
