Rebate pressure on preparers
Valentine's Day: Love and taxes

Rebate plan is official

Dubya signed the economic stimulus bill today, so the rebate/advance credit checks are now the law. Get to work on your return so your check will be in the first batch mailed!

The IRS also announced (in FS-2008-15) how it's going to issue the checks. A couple of important notes:

  • Folks who don't usually file a return because their only income is Social Security, certain Railroad Retirement or certain veterans’ benefits, or they don't make enough earned income to file, must -- repeat, MUST -- file a 2007 return to get a rebate.
  • The rebates will be direct deposited for taxpayers selecting that option when filing their 2007 tax returns. 

Treasury rebate examples: Also in conjunction with the signing, the Treasury Department issued this fact sheet with examples of rebate amounts for various taxpayer scenarios.

One note on the fact sheet. The first example, Married with children, has an asterisk but no corresponding explanation. I suspect this is a cut-and-paste error from an earlier version.

Al_bundy As I recall, the first iteration of the fact sheet had a footnote indicating that the amount per child is for kids younger than 17. I suspect that asterisk-marked elaboration was dropped inadvertently on this version.

But I must admit that when I saw that heading, I was halfway expecting the footnote to somehow reference Al and Peggy Bundy.

Yeah, I know. Too much TV.

Comments

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sarah perry

Im single and thought all were getting 600.00 but it has broken down to how much you make, not if you file and get return and also support a disabled sister and she didnt get anything also So how does this rebate work and who gets what

Jenn

Ok, i'm really confused I was told that if I made less than 3,000 then I wouldn't get a rebate check, so i filed jointy with my husband and their taking it all because he owes back child support. Are you saying that if I filed separate then I would have gotten one, instead of nothing? That is crap. So much for getting help from the government when you can't understand a thing the say.

TAMMY HEFLIN

Is the SSI of Texas going to steal our tax money. They been taking our income taxes for years. They said I owned $10000, even when we was homeless, living at government parks out of 1978 18 ft van with temps that was freezing, they took my husband's 1st check, then went back 5 years. I've talked to SSI every year, they just take of a couple of $1000s Last I heard was down to $2000. They took this year's income tax against the money they say I owe.

Gerri  Hensley

I only made $1700.00 in self employed income but I did file a return in Feb. Will I have to wait untill June to get the refund or will I get one? H&R block did not put my bank infomation on my return. Thank you

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