What is the purpose of the IRS stimulus checks?
The IRS stimulus check is issued by the United States Treasury to over a hundred million individuals through the late spring and summer periods following the tax season. Eligibility is determined by the IRS and the most recent tax return. These IRS stimulus payments are distributed to most taxpayers to serve as a tax cut based on their most recent incomes. The IRS stimulus checks aim to help the economy by boosting an individual’s savings account, thus encouraging them to spend the money shopping or paying off accumulated debts. With the rising costs of gas and groceries, along with the mortgage crisis and the credit crunch, the stimulus checks are meant to provide a financial cushion for the average consumer. The total amount being distributed by the Treasury and IRS is over $110 billion, which will add a great amount of money back to the economy to avert the risk of a recession. Who qualifies for a tax stimulus check? For an individual to qualify for the 2008 tax rebate checks, he or
