The stimulus package also directs much needed aid to veterans who have spent their lives building and protecting this country. If you did not file a tax return because you received disability compensation, pension or survivors’ benefits from the Department of Veterans Affairs last year, 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.

All you have to do to obtain your stimulus payment is 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 VA benefits to qualify for the stimulus payment. Other qualifying income would include wage earnings or social security benefits.

Enter your name, address, social security number, and filing status on the form. Then just enter the amount of VA and Social Security benefits you received on line 14a of the Form 1040A or line 20a of Form 1040. You can estimate the benefits you receive from VA or the Social Security Administration by taking the monthly amount you received last year and multiplying it by the number of months you received payments. 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 will not count as taxable income for 2008 and will not affect the amount of VA benefits you receive. For those who file a 2007 tax return the IRS will begin mailing checks in May based on the last two digits of your social security number.

To ensure all potential veteran beneficiaries of the economic stimulus receive information in late March 2008, the IRS will mail a packet of information to recipients of VA 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 information obtained from your 2007 Federal tax filing.