JONESBORO, AR (KAIT) - It's tax day for many Americans but most folks in Region 8 have two things on their mind: when they will get their economic stimulus payment and if they can have extra time due to storm damage from the February 5th disaster.
We can answer both of those questions. For Arkansans living in a disaster area, you may not have to file until May 27. The IRS is allowing some extra time to file your taxes if you've been affected by storms or tornados. So if you live in a disaster area or have a business in one, your deadline to file is May 27.
The other big question on everyone's mind is when money from the Economic Stimulus Act of 2008 will begin to arrive. Directly from the IRS's website, here is the answer:
Economic stimulus payments will be issued according to the last two-digits of the main filer's Social Security number. People who use direct deposit also will be among the first to receive the payments starting May 2. Paper checks will be put in the mail starting May 16.
A small percentage of tax returns will require additional time to process and to compute a stimulus payment amount. For these returns, stimulus payments may not be issued in accordance with the schedule above, even if the tax return was processed by April 15.