Tax Relief Check Schedule

Below is a schedule for the issuance of the Tax Relief Checks this summer.





Here’s the breakdown according to MSNBC:

If you made less than $75,000 in 2007, you get $600.

A couple earning less than $150,000 gets $1,200 back, plus an additional $300 per child.

If you made at least $3,000 but paid no taxes, you still get $300.

But here’s where it gets tricky.

The rebate is technically an “advance credit” for your 2008 taxes, leading some to believe the extra money will come out of your refund for next year.

“No,” said Rudoy. “It’s a one-time stimulus to the economy, and it won’t affect anything that anybody has for next year.”

The IRS gave Call 4 Action the same assurance.

Plus, it said you can get another $300 next year on top of the rebate check if you have a child in 2008.

And unlike years past, it won’t make you pay taxes on that rebate money.

But many of you who are elderly or low-income, living off Social Security or veterans benefits, could miss out altogether.

To get the rebate check, you must file a tax form for 2007, even if you’re not required to do so. Otherwise, you’re passing up what’s essentially free money.