Most taxpayers won't have to do anything extra to receive their economic stimulus payments, which will begin going out in May. "If you are eligible for a payment, all you have to do is file a 2007 tax return and the IRS will do the rest," said Acting IRS Commissioner Linda Stiff. Payments to over 130 million taxpayers will go out through the spring and summer.
Those taxpayers who selected direct deposit on their 2007 tax return will receive their stimulus payments via direct deposit as well. Those taxpayers who haven't filed yet should be aware that the quickest way to get the stimulus payments and to get regular refunds is via direct deposit. For more information on the stimulus payments, see my prior blogs: Bush Signs Economic Stimulus Package; Most People Will Receive Tax Rebates and 2008 Economic Stimulus Package Benefits Business as Well as Individuals.
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