Wednesday, February 20, 2008

Economic Stimulus - Tax Rebate

As long as I'm on the subject of taxes, here is a tax rebate calculator based on the legislation passed by Congress and proposed by President Bush.

At $600 per adult and $300 per kid, I'll be getting a cool $2700. (My ex-wife claims 2 of the kids). According to CNN, checks should be in the mail in early May!


Zorlod said...

Don't forget that ultimately this money is an advance from your return from next year. Spend/Save it wisely!

KevinL said...

The fact that it's an advance on your 2008 rebate is a semi-myth.

The 2008 tax laws will be changed so that everyone gets this credit. But instead of getting the rebate when we file, we are getting it early.

Your 2008 tax liability will not change due to this legislation, and you do not have to pay it back when you file.