Government Rebate Checks

Rebate Checks for 2008 - The Basics
Rebate checks should now be on their way in May, as the government attempts to jump start the economy and minimize the impact of a recession this year. How much you receieve depends on your Gross Adjusted Income for 2007, as stated on the 1040 form you’ll send the IRS this spring.

* Most individual taxpayers will receive a $600 check, Couples will receive $1,200, with another $300 per child.
* Individuals who don’t earn enough to file Federal Taxes, but who earn at least $3,000 a year, will receive a smaller check of $300.
* You will receive a smaller check if you earn more than $75,000, or $150,000 as a couple filing jointly.
* The cutoff is $85,000 a year for individuals, $174,000 for couples: Beyond that, you no longer qualify for any check.
* Again, the good news for lower income consumers who pay no Federal Income Tax, and Seniors on Social Security, : they will still be able to receive a check.

The similar program after 9/11 sent $400 checks to most taxpayers, you may recall. But economists say a lot of people paid off credit cards or saved the money…and did not spend it. This time, polls say about half the recipients plan to spend it to “stimulate” the economy.

The IRS will begin mailing out checks in early May, based on the last digits of your Social Security number (as they did in 2001). All checks should be distributed by August.

Below, find out when you should expect yours, whether you filed for direct deposit or a paper check. The schedule is based on the last two digits of your Social Security number, use your Social Security number to figure out your schedule.

Last 2 Digits of SSN	Date Rebate Check Will Be Sent in 2008
00-09	May 16
10-18	May 23
19-25	May 30
26-38	June 6
39-51	June 13
52-63	June 20
64-75	June 27
76-87	July 4
88-99	July 11

What Do You Have to Do to Get a Check?

To get a 2008 rebate check, you must file a form 1040 or 1040-EZ federal tax return for tax year 2008. Persons who do not normally not file tax returns, like retirees and disabled veterans, will have to file a 2007 tax return in order to get a rebate check.