When will I receive my tax rebate check?
Before you receive your rebate check, find out: What is the best use of your IRS Rebate Check Economic stimulus payments will be issued according to the last two-digits of the main filer’s Social Security number. People who use direct deposit also will be among the first to receive the payments starting May 2. Paper checks will be put in the mail starting May 16.
US$787 Billion sure sounds like a lot of money but in reality, what’s in it for YOU? Here’s a detailed breakdown on What’s In, What’s Out and Who Benefits from President Obama’s Economic Stimulus Package: WHAT’S IN • Tax rebates: Checks of at least $300 for almost everyone earning a paycheck, including low income earners who make too little to pay income taxes, so long as they earned at least $3,000 in 2007. Families with children would receive an additional $300 per child, while those paying income taxes could receive higher rebates. • Business tax write-offs: Spur business investments with bonus depreciation and more generous expensing rules. • Housing rescue: Allow more subprime mortgage holders to refinance into federally insured loans by raising the limit on Federal Housing Administration loans from $362,790 to as high as $729,750 in expensive areas. Increase the availability of mortgages by providing a one-year boost to the cap on loans Fannie Mae and Freddie Mac can buy, from $4
