The stimulus package also directs much needed aid to seniors who have worked hard all their lives to make America a better place for their children and grandchildren. Even if you received Social Security benefits and are not otherwise required to file a tax return, you may still be entitled to an economic stimulus payment from the federal government.

You may receive a payment of $300 for individuals or $600 if you are married and file a joint tax return with your spouse. Eligible taxpayers who qualify for a payment may receive an additional $300 for each qualifying child. To qualify a child must be under age 17 as of December 31, 2007.

To receive the stimulus payment just file a 2007 IRS Form 1040 or Form 1040A and report at least $3,000 in qualifying income on the form. You can include the amount of your social security benefits to qualify for the stimulus payment. Add the amount of your social security benefits to other qualifying income, such as wage earnings or certain benefits paid by the Department of Veterans Affairs, to reach the $3,000 requirement. However, supplemental security income (SSI) does not count as qualifying income for the stimulus payment.

You will enter your name, address, social security number, and filing status on the form. Then just enter the amount of benefits reported to you in January on Form 1099-SSA on Line 14a of Form 1040A or Line 20a of Form 1040. If you don’t have Form 1099-SSA, you can estimate your Social Security benefits by taking the monthly amount you received last year and multiplying it by the number of months you received a check. If you need to include wage earnings to reach the $3,000 qualifying level, enter that amount on Line 7 of Form 1040A or 1040. In addition, you should write the words “Stimulus Payment” at the top of the 1040A or 1040.

The stimulus payment is will not be counted as taxable income for 2008 and will not affect the amount of SSA benefits you receive. The IRS will begin mailing checks in early May.

To ensure that all eligible recipients of the stimulus are notified in late March 2008, the IRS will mail a packet of information to recipients of Social Security benefits who did not file a tax return last year. The packet will contain guidance to help you claim the stimulus payment. If you need information in the interim, you can visit the IRS web site at www.IRS.gov.

Fraud Warning
If someone claiming to be from the IRS calls or e-mails you about stimulus payments and asks you for a social security number, bank account or credit card number, it is a scam. The IRS will process stimulus checks based only on information obtained from your 2007 Federal tax filing.