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Income Tax Rebate Checks

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					Income Tax Rebate Checks
The IRS will be sending income tax rebate checks to all taxpaying
citizens to stimulate the economy to progress. They started sending the
checks last May 2008. They released their statement last February and all
the taxpayers have to do to qualify is to pay their income tax return of
the year 2007. Over 130 million taxpayers are estimated to receive tax
rebates.
The IRS will be responsible in determining who will qualify to receive
the income tax rebate checks. Those who paid their income tax for 2007
will definitely qualify for a tax rebate. The amount would equal whatever
paid for the previous year and an additional $300 for each child. Some
may think that the government is just giving us fish for a day, and that
those amounts would not last us until winter. True, but at least they are
giving something back. A small amount of rebate is better than nothing at
all. And in this day and age, when financial crisis is affecting millions
of people, every cent counts.
For all those who are qualified to receive the income tax rebate checks,
make sure that you have your Social Security Number ready and also your
dependents that is considered valid and this would be to your advantage.
For those individuals who did not pay their taxes for the year 2007, some
of you will still be qualified to get rebates. Individuals that received
low-income, beneficiaries of war veterans and people who are receiving
Social Security benefits are among this category. They will still be able
to receive income tax rebate checks but for a smaller amount than the
taxpayers. But they will still get $300 for every dependent that they
have.
If an individual falls on the category of non-paying citizens, they must
notify the IRS of their status by filing for an income tax return for the
year 2007. They may not need to file but this year they have to; to let
the IRS know of their qualifying income and that they too are qualified
to receive tax rebates.
Due to hard times, they are a lot of reported tax rebate scams going
around. Do not entertain calls that ask for personal information
especially bank information. IRS will not call your house and ask you
question, all communication will be made through mail, so be weary of
callers claiming to be with IRS. There will be two notices that an
individual should receive; the first one is to explain about the income
tax rebate checks and the second one is the conformation of the
eligibility of the individual and the amount that one will receive
including the timetable of the tax rebate. So it is very important to
keep your address with the IRS updated.
Robert Grazian is an accomplished niche website developer and author. To
learn more about taxes visit Buy Tax Liens Online for current articles
and discussions.

				
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posted:10/12/2010
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