Friday, May 2, 2008

Economic Stimulus Rebates

You may have heard that the economic stimulus rebates are starting to hit bank accounts across America. If you have received yours yet, this may explain why. The IRS is sending out the rebates to those who chose direct deposit for their tax returns first. After May 16th, the paper checks will start to arrive. The time frame is broken down even further according to your social security number. To see your expected time frame, check out this page from the IRS.

If you are wondering if you're even eligible for the rebate, an answer from the IRS FAQ may help:

"If you had a net income tax liability for 2007, you will generally receive a payment, unless you can be claimed as a dependent on someone else’s return, had higher income or do not have a valid Social Security number."

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