Deadline approaches to file tax return for stimulus checks

Brook Stockberger

Sep. 8, 2008 (McClatchy-Tribune Regional News delivered by Newstex) -- To read more about economic stimulus payments or if you are looking for information because you've filed for an extension, click here.

LAS CRUCES -- Gilbert Nevarez has been leery of the government's plans to send out economic stimulus checks.

Nevarez, 64, collects Social Security and does not usually need to file a tax return. This year, when he learned he would need to file a return to receive a stimulus check, he balked.

"I didn't want to do it, I thought it might just be a way the government was checking up on those who are not filing," he said.

Nevarez, a Las Cruces resident, finally decided the plan was on the up and up and he paid a visit to accountant Vivian Moore last week to ask for help in filing a return.

"I think they have money and they're putting it back into the economy," he said.

If you are a retiree or disabled veteran who has not filed a 2007 federal tax return, you could be missing out on some money. These individuals must file a tax return by Oct. 15 to receive their economic stimulus payments.

According to the Internal Revenue Service, the stimulus payment is not taxable. "Absent any other filing

requirements, filing a tax return to receive a stimulus payment does not mean that retirees will have to start filing tax returns again," an IRS news release states.

"It's not too late to file," IRS Spokesman Bill Brunson said. "Oct. 15 is the date we're telling folks they need to file by in order to receive a stimulus payment before the end of the year."

It takes time to process the return and then time to process the check, which could take another two to six weeks.

Filing deadline

There's another good reason to keep Oct. 15 in mind. If you received an extension to file you taxes, Oct. 15 is your deadline to file.

Brunson said 70,600 New Mexicans -- out of more than 800,000 who filed -- requested an extension.

Daniel Payne, who owns the H&R Block (NYSE:HRB) tax preparation locations in Las Cruces, said a steady stream of people have been visiting the location on El Paseo Road, the only one that stays open all year long.

"People are coming in needing to file their returns," he said.

He said anyone who files late, after Oct. 15, will not be able to do so online.

"After that, anything has to be mailed," Payne said.

Moore said she has been busy as well. She said people have a variety of reasons for having filed an extension.

"If they have a corporation and the corporation hasn't filed yet, they usually have to wait," she said. "Usually the private partnerships and trusts are holding up the individual."

Brook Stockberger can be reached at bstockberger@lcsun-news.com; (575) 541-5457

Who is qualified?

The IRS said recipients of certain benefits from Social Security and Veterans Affairs who do not normally have to file a tax return can still get an economic stimulus check. To be eligible, individuals must have at least $3,000 in qualifying income. Qualifying income includes any combination of earned income, nontaxable combat pay and certain benefit payments from Social Security, Veterans Affairs and railroad retirement. These individuals must file a tax return before Oct. 15 to receive their economic stimulus payments.

IRS Information

-- Las Cruces office: 505 S. Main St.

-- Phone: (800) 829-1040

-- IRS help line: (800) 829-1040

-- Web site: www.irs.gov

Newstex ID: KRTB-0108-27942447