Congress’ economic stimulus package bill has passed, meaning most American taxpayers will receive tax rebate checks ranging from between $300 and $1,200 per household, plus additional amounts for households with multiple children. Want to make sure you get yours?
You did file your taxes, last year, right?
To be eligible for W’s recession-busting rebate check, you must have filed a 2006 federal income tax return, if required, and be filing a 2007 return, regardless of whether you would ordinarily need to file. If for whatever reason you overslept by about 10 months and haven’t filed last year’s yet—you might consider it.
You may be entitled to receive a check even if you aren’t ordinarily obligated to file a return (for example you are on social security or disability), however, you will have to file this year to get this refund!
As far as I know, the only people ineligible for this refund are those that do not file any sort of tax return and those with extremely high incomes. (The refund amount will begin to be phased out for taxpayers with adjusted gross incomes above $7,500.
Check Your Address
If you have provided the IRS with direct deposit bank account information to receive your regular tax refund, your economic stimulus rebate will come directly into your bank account. If not, the IRS needs to know where to find you. (If, for whatever reason, you don’t want them to find you, you’ll have to kiss this check goodbye).
The rebate checks will be mailed to the last known address the IRS has for you. So if, like me, you have moved about six times since last April, you might want to check in with Uncle Sam to see that he has your address.
By now most taxpayers have received a letter further describing the stimulus rebate and their eligibility. The latest word is the rebate checks will start mailing in May. To be eligible, you will also need to have filed a 2007 tax return by the April 15th deadline. If you haven’t filed, be sure not to miss these important deductions, and you might also consider getting your receipts organized!
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