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As part of the Economic Stimulus Act of 2008, over 130 million American households will receive stimulus payments that will inject money into our economy and help create more than 500,000 jobs before the end of the year. As part of the stimulus package, certain Social Security and Veterans beneficiaries, and lower-income workers are eligible to receive stimulus payments if they have at least $3,000 of qualifying income. Since many of these Americans do not normally file tax returns but must to receive a stimulus payment this year, Treasury and the IRS have undertaken an extensive outreach effort to ensure those who are eligible receive a payment. Federal income tax returns must be filed by April 15, 2008. Assistant Secretary for Tax Policy Eric Solomon will discuss today the business provisions of the stimulus package at the midyear conference of the Tax Executives Institute.
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