State auditor: To get rebate, file your taxes

By Journal staff | Sunday, February 24, 2008

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To ensure all South Dakotans receive their tax-stimulus payment, State Auditor Rich Sattgast is encouraging individuals to file a federal income tax return this year, even if they haven't filed in previous years.

"It is extremely important that everyone file this year, because while most South Dakotans will receive a tax stimulus payment, or a tax rebate beginning in May 2008, those who do not file will not be eligible," Sattgast said in a news release.

Sattgast is concerned that certain low-income workers and people who receive Social Security, veterans benefits and Railroad Retirement benefits who are not required to file a tax return will miss out on the rebates of between $300 and $1,200, if they don't file this year.

"Because of low income levels, many people are not required to file a return and therefore could miss out on this opportunity," Sattgast said.

He said the rebates, part of a national economic stimulus package, will mean about an additional $300 million to the South Dakota economy, and everyone eligible should file this year to not only help themselves but help boost the state's economy.

To be eligible to receive the paymen,t an individual's return must show at least $3,000 in qualifying income, Sattgast said. Those who have already filed their 2007 tax returns but did not report enough income to qualify for the rebate may file an amended return using IRS form 1040X to include any additional income.

Low-income workers and elderly taxpayers who need help filing their returns may take advantage of free tax preparation through IRS certified volunteer preparation sites. For locations of free-preparation tax sites in South Dakota and income eligibility limits, visit the State Auditor's Web site at www.sdauditor.gov.