Whether you agree with the tax incentive program or not, I doubt anyone is going to turn down money from the government. Of course, you have to file your tax return this year in order to get a tax rebate check.
We have all seen the general info repeated in the news (and pretty much everywhere else) that the tax rebate checks will be anywhere from $300-600 per person. Here is what the IRS website has to say about the rebate checks:
Starting 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, $3,000 of income
and file a 2007 federal tax return. IRS will take care of the rest.
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.
But when will you get your money?
The IRS has put out a schedule (see below, or click here) showing how the last two digits of your social security number will determine when your money is sent out. Also, the method of payment will be determined by whether or not you provide your direct deposit info on your tax return.
Also, see this USAToday.com article that gives more details on how your actions may delay or facilitate the process.
|Last two SSN digits:||Payment will be transmitted:|
|00 through 20||May 2|
|21 through 75||May 9|
|76 through 99||May 16|
|Last two SSN digits:||Payments will be mailed by:|
|00 through 09||May 16|
|10 through 18||May 23|
19 through 25
|26 through 38||June 6|
|39 through 51||June 13|
|52 through 63||June 20|
|64 through 75||June 27|
|76 through 87||July 4|
|88 through 99||July 11|