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Text Script of Press Briefing February 13, 2008 Economic Stimulus Payments

IRS Acting Commissioner Linda Stiff and Financial Management Service Commissioner Judy Tillman

Stiff: Good afternoon, and  welcome.  As you all know, Congress  recently passed an  economic-growth package that  would provide stimulus payments  to 130 million taxpayers.  The President signed that  legislation into law earlier  today.  I'm happy to report that the IRS  has been working for weeks now,  preparing to process these  payments and get them into the  hands of the American public.  We expect the first checks to  begin arriving in the mailboxes  in early May, about 11 weeks  from now.  Checks will continue to be  mailed through the spring and  summer.  As widely reported in the press,  payments will range from $300 to  $600 for individuals and from  $600 to $1,200 for joint filers.  Taxpayers will also receive $300  for each qualifying child.  To receive the stimulus  payments, the majority of  American taxpayers don't need to  do anything more than file a  2007 tax return.  IRS will then do all the rest,  including determining  eligibility and payment amounts.  There is no need to call the IRS  or file any other form.  This year, perhaps more than  ever, it's important for  taxpayers to elect a  direct-deposit option.  This will speed up not only  getting their refunds, but it  will speed up the receiving of  their stimulus payments.  Most taxpayers do not need to  take any extra steps to receive  the payments beginning in early  May, but there are a few  exceptions, and we want to urge  individuals to see if the  exceptions apply to them.  First, low-income workers who  had at least $3,000 in earned  income in 2007 but did not  otherwise earn enough to be  required to file a federal tax  return will need to file a  return in order to get the  stimulus payment.  Likewise, Social Security  recipients, veterans, and  retired railroad workers who  might not otherwise need to file  a tax return must do so to  receive payment.  The IRS is working actively with  the Social Security  Administration and the  Department of Veterans Affairs  to ensure that their  beneficiaries understand the  filing requirement and how to  report their benefits on the IRS  form 1040 or form 1048.  The IRS will also be helping  taxpayers at thousands of  volunteer tax-preparation sites  across the country.  We are partnering with groups  such as AARP and others to make  sure that taxpayers receive the  stimulus payments as the  administration and Congress  intended.  And, of course,, the  award-winning IRS website, is a  great source of information.  It has the latest news, answers  to frequently asked questions,  and will soon even have a  calculator to help taxpayers  confirm the size of their  payments.  I'd like to turn it over now to  my colleague, Judy Tillman.

Tillman: Thank you very much.  The Financial Management  Service, another bureau of  Treasury, is actually the  dispersing arm for tax refunds  and many other government  payments.  The Financial Management  Service, FMS, will disperse the  $130,000 estimated stimulus  payments from our four  processing centers, located in  Philadelphia, Pennsylvania,  Kansas City, Missouri, Austin,  Texas, and San Francisco,  California.  Delivering payments is a primary  mission of FMS, and we will use  the same attention to detail and  respect for people's money that  we apply to the one billion  payments we issue every year.  Getting stimulus payments out  the door will in no way  interfere with, delay, or  otherwise affect FMS processing  of SSA payments, Supplemental  Security Income, V.A., railroad  retirement, regular income-tax  refunds, or any other type of  payment that we make.  We have done this twice before  without any disruption to our  regular payments, and we will do  so again. 

Thank you. 

Audio File: 2008 Economic Stimulus Payments - IRS Acting Commissioner Linda Stiff and Financial Management Service Commissioner Judy Tillman, 02/13/08, 4:30 minutes long.  The audio file will open in Windows Player, and you will be able to pause, fast forward, rewind, mute, and control the volume from the interactive player. 

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Page Last Reviewed or Updated: 23-Dec-2016