Date: 2008-10-02
Jackson Hewitt(R) Alerts Seniors and Non-Filers of the October 15 Filing Deadline to Qualify for a 2008 Economic Stimulus Check
PARSIPPANY, N.J.,
Oct. 2 /PRNewswire-FirstCall/ -- The October 15 filing deadline to
receive this year's Economic Stimulus check, or rebate check, is
quickly approaching for seniors and others who traditionally do not
have to file an individual income tax return. Jackson Hewitt Tax
Service(R) is working to inform these groups that there is money
available, as long as the correct steps are taken by the upcoming
cut-off date.
"We
want to remind seniors, veterans and others that do not typically file
a tax return on a yearly basis, that in order to receive a stimulus
check, they must file a 2007 tax return by October 15," said Mark
Steber, vice president of Tax Resources, Jackson Hewitt Tax Service.
"All that's required is that qualifying taxpayers file a 2007 tax
return with a valid Social Security number and report at least $3,000
of qualifying income, such as Social Security benefits or veterans'
disability compensation, pension, or survivors' benefits received from
the U.S. Department of Veterans Affairs. Available on the Jackson
Hewitt Web site is an online resource, the 2008 Economic Stimulus
Payment FAQs for Seniors, that provides more details."
The
IRS has stated that for those who requested a valid six-month extension
to file or who are filing to establish eligibility for the stimulus
payment, filing by October 15 means that the return will be processed
and a stimulus payment will be issued before the end of the year. It is
important to note that no stimulus checks will be issued after December
31, 2008. After this date, those who qualify will need to claim a
refundable credit for the payment on their 2008 tax returns. The amount
received for a stimulus payment based on a 2007 tax return will not
reduce the amount of a refund or increase an amount owed when filing a
2008 tax return.
Social
Security beneficiaries, low-income workers, and those who receive
certain benefits from the Department of Veterans Affairs help make up
the nearly 20 million people who do not normally file an annual tax
return. Because the information recorded on the 2007 tax return is used
for the rebate checks, it is important for members of these groups to
file this year to receive payment, which is generally $300 for single
filers or $600 for those who file a joint return. Qualifying benefits
from the Social Security Administration and the Department of Veterans
Affairs must be reported on Form 1040, Line 20a, or Form 1040A, Line
14a. Other qualifying income must be reported on the appropriate lines
of the tax return, as the IRS will not recognize it otherwise.
Payments
will be processed based on the method indicated on the 2007 tax return,
directly deposited into a bank account or by postal mail. Filers should
allow at least eight weeks to receive their payments.
For
other requirements regarding rebates, including the FAQs for seniors,
visit www.jacksonhewitt.com and go to the Tax Resource Center.
Additional information can also be found by visiting a local Jackson
Hewitt office or on the IRS Web site at www.irs.gov. To locate the
nearest Jackson Hewitt office, log on to www.jacksonhewitt.com and
click on the Office Locator feature, or call 1-800-234-1040.
About Jackson Hewitt Tax Service Inc.
Jackson
Hewitt Tax Service Inc. (NYSE: JTX), with approximately 6,800
franchised and company-owned offices throughout the United States
during the 2008 tax season, is an industry leader providing full
service individual federal and state income tax return preparation.
Most offices are independently owned and operated. The Company is based
in Parsippany, New Jersey. More information may be obtained at
www.jacksonhewitt.com. To locate the Jackson Hewitt Tax Service(R)
office nearest to you, call 1-800-234-1040.
SOURCE Jackson Hewitt Tax Service Inc.