FRANKFORT, Ky. (Oct. 7, 2008) - More than 67,000 eligible Kentuckians may have money coming to them from the Internal Revenue Service, but they must act by Oct. 15, 2008 to claim it.
Last year, Congress passed an economic stimulus package that provided most low and moderate income American families a check for hundreds of dollars.
According to the Center on Budget and Policy Priorities, a total of $20,149,400 remains unclaimed by more than 67,000 Kentucky taxpayers. These thousands of Kentuckians could miss out on their economic stimulus payments if they do not file a 2007 Federal income tax return by the October 15, 2008 deadline.
"With the tough economic realities we are facing, compounded by the pinch we are all feeling at the gas pump, these checks could mean a real boost to your family's budget," said Governor Steve Beshear. "I urge you to file your return if you haven't already, and claim the money that is rightfully yours."
Payment amounts vary by income level, but range from $300 per individual to $1,200 for married couples, plus an additional $300 payment for each qualifying child. This number of eligible Kentucky taxpayers does not include individuals who filed for an extension, but have not yet submitted their return. October 15, 2008 is also the filing deadline for those who received extensions.
"October 15th is the extended deadline if you have not yet filed your taxes. I encourage you to file by that date so that you might claim your stimulus check and avoid tax penalties," said State Treasurer Todd Hollenbach IV.
Many of those who have not yet claimed their stimulus checks are low-income senior citizens, veterans and individuals with disabilities. People in these groups often don't file a tax return if their sole source of income is Social Security or veterans' benefits.
"We have got to get the word out that there is still time to file and claim your check," said Finance and Administration Secretary Jonathan Miller. "If you need help filing, or know of someone who does, contact the IRS right away. Let's make sure Kentuckians get the money that's coming to them."
Those who need help filing their return should call the IRS at 1-800-829-1040.