News from the IRS

by Gregg Semanick

With the April 15 tax deadline approaching, here’s seven tips for New Jersey taxpayers from the Internal Revenue Service.
1. Don’t miss out on the new Economic Stimulus Payment. Starting in May, the U.S. Treasury will begin sending economic stimulus payments to more than 130 million households. To receive a payment, taxpayers must have a valid Social Security number, $3,000 of qualifying income and file a 2007 federal tax return. IRS will take care of the rest. Millions of retirees, disabled veterans and low-wage workers who usually are exempt from filing a tax return must do so this year in order to receive a stimulus payment. Go to the Economic Stimulus Payments Information Center on www.irs.gov for details.