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« "Deadly Lessons" wins a Lisagor Award | Main | Cash Crunch: Wednesday »

Cash Crunch: Tax Rebate Info

We have gotten lots of calls about the economic stimulus payments. So, here's some basic info:

Starting this week, millions of Americans will get tax rebate checks from the federal government. It's an effort to stimulate the lagging economy.

To receive a payment, taxpayers must have a valid Social Security number, $3,000 of income and you must file a 2007 federal tax return.

The rebates, which are expected to reach 130 million households, range up to $600 for individuals and $1,200 for married couples, plus $300 per child for eligible parents.

The first direct deposits landed in taxpayers' bank accounts on Monday. If you got your income tax refund through direct deposit, you'll get your tax rebate through direct deposit. If you got your tax refund check in the mail, you'll also get your rebate check in the mail. The last two digits of your Social Security number determines when you'll get your payment.

For more detailed information, check out www.irs.gov

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