Rebate checks

[HALEY]

I saw this on YT and was wondering here on 4 Woman talk, what are everyones plans for there rebate checks? My tax return will be spent on my credit cards i have two more to pay off Ya..... then my rebate check will go towards a new stainless steel stove and a microwave, badly needed, i think my stove is 40 years old it came with my house when i got it three years ago, my fridge went last year so my Hubby got a stainless steel one, and now i'll have the stove to match it... and i'll be so happy when my credit cards are paid off... then there getting put away for emergencies... no more....

[Janet]

I'll just hold ours back until next year probably, since they will be taking it out of our refund. Sucks! I would love to spend it, but sure as I do, something will happen.

[HALEY]

Originally Posted by Janet

I'll just hold ours back until next year probably, since they will be taking it out of our refund. Sucks! I would love to spend it, but sure as I do, something will happen.

Why are they taking it out of your refund? it said in the paper that it is a separate check, i have to spend mine on a stove before mine blows up and i spend the money on something stupid.. i would love to save it but,, stove comes first..

[DianaB]

I didn't know that we got a refund!! Mine will just go in with all the other money and go towards farm payments and bills!!!!!

[HALEY]

Who gets a rebate? Most people who pay taxes or earn at least $3,000, including through Social Security or veterans' disability benefits. Singles making more than $75,000 and couples with income topping $150,000, however, will get smaller checks, up to the top limits for any rebate: incomes of $87,000 for individuals and $174,000 for couples.

To get any rebate, you must file a 2007 tax return and have a valid Social Security number. If you already filed your 2007 return, the IRS says you don't need to do anything extra.

Most taxpayers will receive a check of up to $600 for individuals and $1,200 for couples, with an additional $300 for each child.

People earning too little to pay taxes but at least $3,000 - including elderly people whose only income is from Social Security and veterans who live on disability payments - will get $300 if single, or $600 if a couple.

The IRS will send out rebates - by mail or by direct deposit into your bank account - through the late spring and the summer. The rebates come in addition to any regular tax refund.

To pay for the rebates - which are estimated to cost about $117 billion over the next two years - the government will have to borrow more money, enlarging the budget deficit.

[judy]

Mine will probably just go to pay off a bill or two. That will be nice.