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The Check Is in the Mail!

Congress enacts Economic Stimulus Act.

Background. In February, Congress passed the Economic Stimulus Act of 2008 (H.R. 5140) in an attempt to stimulate the economy by authorizing the issuance of rebate checks to 130 million taxpayers, plus some business incentives. Starting in May, the U.S. Treasury Department will begin sending out the rebate checks, and will continue doing so through the late spring and summer.

What do you need to do to get a rebate check? 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. Although some filers, such as high-income filers, will not qualify for a stimulus payment, most will. Low-income workers and Social Security beneficiaries who normally don't file a return may receive a rebate check if they do.

You do not need to calculate the amount of your rebate ...

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Posted:
  • May 1, 2008