What is the Economic Stimulus Payment (ESP)?
The Economic Stimulus Payment (ESP) is an effort on the part of the national government to alleviate the financial burden of the struggling economy. These bonus checks are available to individuals who received more than $3,000 in 2007 in Social Security benefits, Veterans benefits, or wages. The payment is $300 for those with no tax burden and an additional $300 for each eligible dependent child. Please note: Individuals who have already filed tax returns do not need to file separately for the ESP. Residents who have been claimed as a dependent on another persons return are not eligible for the payment. Individuals who received Supplemental Security Income (SSI) are also not able to request the payment (unless it was in conjunction with wages, Social Security or Veterans Benefits). How can residents claim the ESP? In order to claim the ESP, every eligible individual must file a tax return. Even individuals who are not required to file a return, have not done so in years, or have never