“It's simple", said IRS Spokesperson, Luis D. Garcia. "If you have a payment headed your way just file your 2007 tax return and  sit tight, we at the IRS will do the rest.”

The IRS will use information on the 2007 tax return filed by the taxpayer to determine eligibility and calculate the amount of the stimulus payments.

The IRS will begin sending more than 130 million taxpayers their payments beginning in early May after the current tax season concludes. Payments will continue over several weeks during the spring and summer. IRS will announce a payment schedule for taxpayers in the near future.

Stimulus payments will be direct deposited for taxpayers selecting that option when filing their 2007 tax returns. Taxpayers who have already filed with direct deposit won't need to do anything else to receive the stimulus payment. For taxpayers who haven't filed their 2007 returns yet, the IRS reminds them that direct deposit is the fastest and safest way to get both tax refunds and stimulus payments.

Most taxpayers just need to file a 2007 tax return as usual. No other action, extra form or call is necessary. The IRS website, www.irs.gov, will be the best information source for all updates and taxpayer questions.

In most cases, the payment will equal the amount of tax liability on the tax return, with a maximum amount of $600 for individuals ($1,200 for taxpayers who file a joint return). Eligible taxpayers who qualify for a payment will receive an additional $300 for each child who qualifies for the child tax credit.

The law also allows for payments for select taxpayers who have no tax liability, such as those who receive Social Security benefits, low-income workers or veterans’ disability recipients, pension or survivors’ benefits received from the Department of Veterans Affairs in 2007. These taxpayers will be eligible to receive a payment of $300 ($600 on a joint return) if they had at least $3,000 of qualifying income.

Recipients of Social Security, certain Railroad Retirement and certain veterans’ benefits should report their 2007 benefits on Line 14a of Form 1040A or Line 20a of Form 1040. Taxpayers who already have filed but failed to report these benefits can file an amended return by using Form 1040X.

“Folks that receive Social Security or veterans’ benefits and don't normally file a tax return may not realize they will need to file to get their payment,” Garcia said. “IRS will be working closely with Veterans Affairs, the Social Security Administration and other groups to make sure the word gets out to everyone that needs to know.”

Payments to higher income taxpayers will be reduced by 5 percent of the amount of adjusted gross income above $75,000 for individuals and $150,000 for those filing jointly.

The IRS will mail two informational notices to taxpayers advising them of the stimulus payments. However, taxpayers should be alert for tax rebate scams such as telephone calls or e-mails claiming to be from the IRS and asking for sensitive financial information. The IRS will not call or e-mail taxpayers about these payments nor will it ask for financial information. Scam e-mails and information about scam calls should be forwarded to phishing@irs.gov.