By: CARISSA HEBERT

Managing Editor

President George Bush’s plan to boost the nation’s economy is underway and the Internal Revenue System (IRS) will begin issuing stimulus payments in May to more than 130 million households.

According to the number of households in this area, The Gazette has learned the Ville Platte and Mamou business markets could experience an increase in sales as these payments arrive. It is expected the impact could be between 6.3 and seven million in this area alone. Local retailers are preparing to encourage residents to use these stimulus payments in this area to boost the parish’s economy.

In January, President Bush met with his economic advisors and decided to create an economic growth package, which included stimulus payments. The package was designed to bolster both business investment and consumer spending, which is critical to economic growth, according to a press release he issued in January. Bush hopes residents will spend the money instead of saving it for a rainy day.

Beginning in May, the Treasury will begin sending economic stimulus payments to more than 130 million households. To receive a payment, taxpayers must have a valid social security number, at least $3,000 of income and have filed a 2007 federal tax return. In a recent release, the IRS stated, “Eligible people will receive up to $600 ($1,200 for married couples), and parents will receive an additional $300 for each eligible child younger than 17. Millions of retirees, disabled veterans and low-wage workers who usually are exempt from filing a tax return must do so this year in order to receive a stimulus payment.”

A local accounting firm reminded residents they must file a tax return to be eligible. For those who asked for extensions, they should be eligible for this stimulus payment, through October. The accounting firm said the IRS will be waiting for those returns before releasing payment, and if they owe the government, all or part of the stimulus payment will be applied to that balance.

Depending on your social security number and how you received your refund from the IRS, whether direct deposit or through the mail, will depend on how you receive this stimulus payment. The IRS plan is as follows for those whose tax returns were received and processed by April 15:

Direct Deposit Payments

Last two Deposit

digits made

of your SS to your

number bank by:

00 – 20 May 2

21 – 75 May 9

76 – 99 May 16

Paper Check

Last two You’ll

digits receive

of your SS your

number check by:

00 – 09 May 16

10 – 18 May 23

19 – 25 May 30

26 – 38 June 6

39 – 51 June 13

52 – 63 June 20

64 – 75 June 27

76 – 87 July 4

88 – 99 July 11

To learn more about this plan, visit www.irs.gov or speak to your local accountant.