What's In This Monthly Newsletter Issue?
*All about the new US tax rebates coming this spring/summer--your questions answered!*
*Free Organic Coupon Offer*
*Visit Our Newest Pages*
*Ways to Save Money On Spring Clothing for Your Kids
*Cheap Recipe of the Month
*Product Review--WT Direct Online Savings Accounts Reviewed
Tax Rebates -- Your Questions Answered
If you live in the United States, you know that Congress just passed a new tax rebate package. Checks are supposed to begin going out in May. Here are common questions answered:
1. Will I get a check?
If you file taxes as a "single" your adjusted Gross income must be below $75,000 on your 2007 tax return, and less than $150,000 if you file as a couple. Low income senior citizens and disabled veterans will also receive checks.
2. How much do I get?
You get up to $600 per person or $1200 per couple, with an extra $300 per child. If you didn't pay any income tax, but earned more than $3,000 this past year, you get $300 per person or $600 per couple.
3. Do I have to pay the rebate back on next year's taxes?
No, it is a one time tax credit that is an advance on a tax credit you will recieve on your 2008 tax return. So you still get your usual refund back next year also.
4. When do I get my check?
Experts estimate anytime from middle of May through July. But, hey, it's the government so it could take even longer.
As a final note, I encourage all my readers to use the rebate check to pay down debt or put it away for a rainy day. Don't just go out and blow it all on a spending spree.