The president has signed what is being called the Economic Stimulus Act of 2008. Here is what you can expect:
1. Who can receive the rebate checks?
People earning between $3,000 and $75,000 can expect rebate checks between $300 and $600. Couple earning up to $150,000 can expect $1,200. Persons with children will receive an extra $300 per child. Includes social security retirement benefits and compensation and pension benefits paid to disabled veterans for purposes of determining income eligibility for rebates. Business would be given the expensing allowance for depreciable business assets to $250,000 and the maximum investment phase-out threshold for such expensing allowance to $800,000.
2. Who is not eligible to receive a rebate check?
Payment of a rebate is not available to a taxpayer without a valid identification number (i.e., social security number).
3. How can I get my rebate check?
To get any rebate, you must file a 2007 tax return and have a valid Social Security number. If you already filed your 2007 return, the IRS says you don't need to do anything extra.
The IRS will send out rebates - by mail or by direct deposit into your bank account - through the late spring and the summer. The rebates come in addition to any regular tax refund.
4. When will I receive my rebate check?
Legislation requires that the checks must be mailed prior to
5. Who do I contact if I don't get my rebate check?
Department of the Treasury
202-622-2000
Fax: 202-622-6415
Here: http://www.irs.gov/irs/article/0,,id=177937,00.html
No comments:
Post a Comment