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Stimulus payment not taxable, but should be reported on tax return

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The Internal Revenue Service is trying stop confusion about the taxability of Economic Stimulus Payments received by many taxpayers in 2008.

"People are starting to do their taxes and are noticing that the 2008 return instructs them to report the stimulus payment they received last year," said IRS spokeswoman Carrie Resch. "Some are mistakenly assuming that means the stimulus payment is taxable."

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