Are You Ready For Your Stimulus Check?

By: Tim Kwiatkowski

Back in February, George Bush signed an economic stimulus package that calls for each and every 2007 taxpayer to receive a tax rebate check of $600 to $1200 (USD). These stimulus checks will begin being mailed in early May, 2008.

Anyone who filed a 2007 tax return will be eligible for a stimulus check. The government expects 10 million to 20 million additional returns to be filed by some low-income workers, people on Social Security, and disabled veterans that were not previously required to file a tax return. The US government is actively tracking people who traditionally do not file and asking that they make an effort to file this year. The thought behind these checks is to boost the economy. That is, send everyone a check and hope that they spend that money at their favorite retail establishment. Sears, Target, Kmart, Best Buy, Circuit City, Macy's, etc. The government is hoping that you take that rebate check and spend it at your favorite US based retailer. Thus "stimulating the economy". I am not 100% convinced this will ease the US economic woes, but I'm not going to turn down a few hundred buck from anyone!

Tax returns that show at least $3,000 of income will receive a tax rebate. The stimulus check will you receive could be as much as $600 for individual filers and $1,200 for joint filers. Each dependent child will qualify someone for an additional $300 to their stimulus check.

Per the IRS website; "Taxpayers who choose direct deposit on their federal income tax returns can expect to receive their economic stimulus payments between May 2 and May 16 provided their returns were received and processed by April 15, 2008. For taxpayers who did not choose direct deposit on their tax return but whose returns were processed by April 15, the paper checks will be in the mail starting May 16, with the initial mailings completed by around July 11." - So if you have not already gotten your check, hang tight, it should be in your mailbox very, very soon!

So take your check and be a good American with it. Go out and spend it! Do your part to boost the economy. It's your patriotic duty! To not spend that check could very well make you a terrorist; OK, I'm exaggerating) You are either with us or against us (or so they say).

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