When Will You Get Your Tax Rebate ?
- Starting May 2008, IRS stimulus payment rebate checks will be mailed to approximately 117 million middle-and low-income taxpayers as part of the 2008 Economic Stimulus Act.
- The Tax rebate will not effect your 2008 federal tax liability or refund. So if you are getting a refund, you will still get your refund AND the tax rebate check.
How much will You Get In Tax Rebate ?
- Rebate of $300-$600: Qualifying single filers adjusted gross income (AGI), less than $75,000
- Rebate of $600-$1,200: Qualifying joint filers with an AGI less than $150,000
- Rebate of $300: Those with children will get an additional for each qualifying child. To qualify, a child must be eligible under the Child Tax Credit and have a valid Social Security number.
How Do You Qualify For the Tax Rebate ?
- You MUST file your 2007 Tax Return to Qualify for the Tax Rebate
- You must have earned income and or benefits of atleast $3000.
- Qualifying children must be under age 17 as of Dec 31 2007.
- Must not exceed $75000 AGI (single filers)
- If you do not file a 2007 Tax Return you will not qualify for the tax rebate. File your tax return online now to make ensure that you are eligible for your stimulus package rebate check from the IRS.
- Even if you are not otherwise required to file a tax return, you should file this year to get the rebate.
- Even if you have not filed a tax return for the past few years, this year might be a good year to clean up and become eligible for the rebate. You can file prior year tax returns for low cost / free here.
- From the IRS website for rebate eligibility : "All you need to do is file a federal income tax return for 2007. Even if you are not otherwise required to file a tax return, you must file a 2007 return in order to receive a payment this year.".