If you’re like I am, when it comes to extra money in your pocket, then you can bet I want to know more. So here are the details along with a handy calculator to see how much you’re getting back.
The Economic Stimulus Package recently passed Congress, and tax rebate checks will be sent out late spring or early summer.
The Basics for Tax Rebate Checks
· Most single taxpayers will get a rebate of $600.
· Most married couples who file jointly will get $1,200.
· Plus, you’ll get an extra $300 for each child under age 17 for whom you claim a child credit on your 2007 return.
· Low income seniors and disabled veterans (and their widows) who don’t owe enough income tax to qualify for the full rebate can qualify for checks of $300, or $600 if they filed joint returns.
These checks will be sent automatically, so no application form is necessary, as 2007 income will be used. The calculator below can be used to find out how much your rebate should be:
Related:
Your Social Security Number Will Determine When Your Economic Stimulus Check Is Sent
