| IRS Official Talks Rebates
Starting this May, may people will start getting an extra few hundred bucks from the government. Its all a part of the president's plan to boost the economy. Mark green from the Internal Revenue Service stopped by Daybreak to talk about the Economic Stimulus Plan and the rebates that is meant to help Americans. Green wants people to understand there is a difference between the tax "refund" some people get and the "rebate." The rebate is an extra payout from the government as part of the Plan. The myth circulating through many communities is "If I get the rebate this year, I will be taxed for it next year." Green says this is NOT true. He says the rebate is not taxable, and it won't reduce your 2007 or 2008 refund and it will not increase the amount you owe when you file your 2008 return next year.
IRS To Help People File
WASHINGTON - In order to get the economic stimulus payment coming out later this spring, you have to file a federal tax return. Problem is, a lot of people don't -- among them people whose income is either too low or not taxable. To help them, the Internal Revenue Service will open hundreds of locations this Saturday to prepare the simple Form 1040A for people who are filing a return solely to get their stimulus payment. Some 320 IRS offices located in all 50 states and the District of Columbia will be open from 9 a.m. to 3 p.m., although some may be open longer. Dan Boone, an IRS spokesman in Birmingham, said the agency will open 13 offices across Alabama. The sites are located in Birmingham, Chatom, Citronelle, Dothan, Huntsville, Irvington, Mobile, Montgomery and Prichard.
IRS says unclaimed refunds in Minnesota total $16 million
Unclaimed refunds totaling approximately $16 million are awaiting about 19,200 Minnesotans who failed to file a federal income tax return for 2004, the Internal Revenue Service announced today. However, to collect the money, a return for 2004 must be filed with an IRS office no later than Tuesday, April 15, 2008.The IRS estimates that half of the Minnesotans who could claim refunds for tax year 2004 would receive more than $498. In some cases, individuals had taxes withheld from their wages, or made payments against their taxes out of self-employed earnings, but had too little income to require filing a tax return. Some taxpayers may also be eligible for the refundable Earned Income Tax Credit.Those due a refund who did not file a 2004 tax return could collect even more money by also filing a 2007 tax return to claim the economic stimulus payment.
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