TaxNewsFlash-Exempt Organizations

March 14, 2008
No. 2008-24

IRS Encourages Nonprofits, Charities, and Community Groups to Inform Low-Income Workers of Economic Stimulus Payments

The IRS today issued a release (IR-2008-42, March 14, 2008) encouraging nonprofits, charities, and other community groups to reach out to low-income workers who may not realize that they are eligible for payments under the 2008 economic stimulus legislation.

Workers who are not required to file a tax return because their wages are too low but who have at least $3,000 in wages or other qualifying income may be eligible for an economic stimulus payment ranging from $300 to $600, plus an additional $300 per eligible child. However, these individuals must file a 2007 federal income tax return to receive the payment. The IRS has encouraged organizations—especially churches and charities that work with low-income individuals—to inform them of the payment opportunities.

For more information, contact Rick Speizman, National Partner-In-Charge, KPMG’s Exempt Organizations Tax Practice (ExoTax), at (202) 533-3084 or rspeizma@kpmg.com

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