For those who have not filed a federal tax return for 2007 in order to receive an economic stimulus payment, the good news is that you have until October 15 to file with the IRS in order to receive your check in 2008.

According to the IRS, determination of eligibility and payment amount for each individual will be made by the agency based exclusively on information provided on a filed 2007 income tax return. Until a 2007 tax return is filed by any eligible individual, that individual will not be sent a rebate check. Those not required to file a 2007 tax return for federal income tax purposes nevertheless must file if they wish to receive a rebate this year.

Eligible individuals include those with no taxable income for 2007 but having at least $3,000 in qualifying earned income, social security benefits (however, Supplemental Security Income does not count towards qualifying income for the economic stimulus payment) or veteran's disability payments. These individuals should file IRS Form 1040A in order to trigger a stimulus package refund. Once the tax return is filed, the IRS estimates it will take 8 to 12 weeks to process your economic stimulus payment, either by direct deposit or by check.

For further information related to economic stimulus payments, including access to the applicable IRS forms and answers to frequently asked questions, visit the related IRS web page by clicking here.