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Apr-28-2008

Readers plan for Bush tax rebate

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CONTENTS:

The first round of federal economic stimulus checks is being direct deposited into bank accounts today, several days early. (More...)
Adjusted gross income : As defined by the Bureau of Economic Analysis, is the taxable income before exemptions and the standard, or itemized, deductions reported on federal income tax returns. (More...)
The National Retail Federation is on the alert, of course, predicting Americans will spend about $43 billion of the rebate, while socking away the rest, or paying off debt and medical bills. (More...)
Within the next week or so, the IRS plans to begin mailing notices to people who'll be receiving rebates. (More...)
The checks were for about half the amount, and instead of the anticipated 130 million that are going out in the next few months, the IRS sent only 112 million payments in 2001, said Illinois IRS spokeswoman Sue Hales. (More...)
For many taxpayers, Gunther said, "The stimulus is not viewed this time as something extra. (More...)
Instead of giving the government a loan all year, use the extra cash in your paycheck to invest in extra mortgage payments, retirement savings or repaying debt. (More...)
Guam, the Northern Mariana Islands and the U.S. Virgin Islands have mirror Code tax systems. (More...)
If you can be claimed as a dependent on another taxpayer's return, you won't receive a rebate. (More...)
If you have credit card debt, pay that down first; in effect, you'll reap an immediate return of 18 percent or more. (More...)
"The problem is many people are likely to spend it on servicing existing debt, and that's money that's already been spent." (More...)
"Unless the administration gets OPEC to increase oil supply, American consumers are going to be in for a scorching summer of $4 gasoline with no relief in sight," Schumer said. (More...)
'I am pleased that the Treasury Department has worked quickly to get the money to the American people,' Bush said in a brief statement. (More...)
"Of course, the kids heard about the rebate and have already spent it 600 different ways. (More...)
"Around one-third to two-thirds'' of the rebate amounts were spent, the panel found. (More...)

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The first round of federal economic stimulus checks is being direct deposited into bank accounts today, several days early. Nearly eight million American taxpayers whose social security numbers end in 00 through 20, and who have provided their bank information in the past for Internal Revenue Service refunds, will receive their money this week. For those who expect paper checks, the IRS will begin mailing out the rebates on May 9th. The rebates -- which range from $300 to $1,200 per household -- are part of President George W. Bush's plan to help jumpstart the economy and get the country back on its feet. [1] There is optimism the stimulus checks, which are worth up to $600.00 a person or $1,200.00 a couple plus $300.00 per eligible child, will entice recipients into spending that money as a way to jump start the economy. President Bush spoke to reporters on Friday about the 130 million eligible households that will receive a rebate check by this summer. "The money is going to help Americans offset the high prices we're seeing at the gas pump and at the grocery store, and it will also give our economy a boost to help us pull of this economic slowdown," says President Bush. Now the method in which these checks are being delivered is based on the last two digits of your Social Security Number. For checks being direct deposited into your bank account, your last two Social Security Number end in 00 - 20 your check should be deposited sometime this week. For numbers ending in 21 - 75 and 76 - 99, those checks will be deposited a week earlier than expected as well. If you're receiving your check by mail, remember that those checks will begin being delivered next week.[2]

President Bush says the rebates of up to $600 a person and $300 per child will help stimulate the economy by the start of the third economic quarter in July. "We want to make sure everyone who's eligible for a check gets one on a timely basis," he said. "This money is going to help Americans offset the high prices we're seeing at the gas pump and at the grocery store, and it will also give our economy a boost to help us pull out of this economic slowdown," he said. President Bush and both political parties in Congress agreed on this temporary economic stimulus plan of tax rebates and business incentives as the U.S. economy has lost nearly 250,000 jobs so far this year.[3]

The rebates — up to $600 for an individual, $1,200 for a couple and an additional $300 for each dependent child — are the centerpiece of the government's $168 billion stimulus package, enacted in February. Roughly 130 million households are expected to get them. Bush made the comments before boarding his helicopter at the start of a day trip to Connecticut. People must file a tax return for their 2007 income to be eligible for a rebate check. The IRS now says all checks for those who filed tax returns on time are scheduled to be deposited or mailed by July 11. The economy — burdened by the collapse of home prices, a financial and credit crisis, and now rising energy and food prices — grew at an anemic 0.6 percent in the final three months of last year and is believed to have gotten even weaker in the first three months of this year.[4] "Most Mississippians who filed federal tax returns will be eligible for the economic stimulus package," said Mark Green, spokesman for the Internal Revenue Service in Atlanta. That package will deliver up to $600 to individual taxpayers who qualify, and $1,200 to married couples filing jointly, plus another $300 per child for parents. Early in his first term, in 2001, President Bush pushed a similar rebate plan to cheer up a crabby economy. Likely, his administration would applaud Mason's plan to drop her windfall on florists and caterers this time, rather than on divorce attorneys.[5]

"Your rebate is on the way," Bush said in remarks on the South Lawn of the White House before departing for an anti-malaria event and GOP fundraiser in Connecticut. "This money is going to help Americans offset the high prices we're seeing at the gas pump and at the grocery store, and it will also give our economy a boost to help us pull out of this economic slowdown." Eligible taxpayers may receive up to $1,200 per couple and $300 per child under the stimulus package, and those who use direct deposit will start seeing rebate funds in their bank accounts as early as Monday.[6] Economic stimulus checks start hitting bank accounts today. Some retailers are offering discounts for folks who spend their rebate checks from the government, but polls indicate many people will use the money to pay bills. The first batch of checks from the government go to taxpayers who selected direct deposit on their tax returns. Bill Brunson of the Phoenix Internal Revenue Service says people will receive a notice about their check a few days before or a few days after they receive the money. Several big retailers are offering discounts to customers spending their rebates. The stores are not so interested in seeing the actual rebate check as they are about seeing the money.[7] Sounds like the Salt Lake City resident will do what Uncle Sam wants. Beginning today, the federal government will send people who filed a 2007 tax return up to $600 apiece, plus up to $300 per dependent child, hoping they will go out and buy something or do something fun. It looks like not many Utahns plan to kick up their heels. In a new Dan Jones & Associates survey for the Deseret Morning News and KSL-TV, just 9 percent of the 291 Utah adults surveyed who are getting stimulus checks said they'll spend the money on leisure or non-essential items. 72 percent of respondents said they planned to save, invest or spend the money on bills or debt. The survey, conducted this past week, has a margin of error of 5.74 percent. Some personal-finance experts say it's a good idea to save or invest the money or pay off debt - especially, credit-card debt, which is akin to a hole in your pocket. Some question whether those people surveyed will live up to their savings or debt-payoff pledges. "Going into it, they might have good intentions," said Jason Stoddard, Utah District retail leader for Key Bank. "But once they get the check and see something they want, they'll spend it."[8]

A study by the National Bureau of Economic Research found that consumers used a similar $300 tax rebate in 2001 to either pay off debt or put into savings. The Index of Consumer Sentiment, released Friday by the University of Michigan and Reuters, found that only 30 percent of consumers plan to spend their check, with most preferring to pay debt or add to savings. "With the current high levels of economic uncertainty, most consumers favor adding to their reserve funds to increase their financial latitude as a safeguard against worsening future conditions," Richard Curtin, the director of the Reuters/University of Michigan surveys of consumers, said in a statement.[9]

Coming to about $168 billion, the refund bonus is meant to slip more money into the hands of consumers, and therefore, into the pockets of business owners. "The administration hopes that people use it to stimulate the economy, and not to stimulate their savings," said William Gunther, University of Southern Mississippi economics professor and director of USM's Bureau of Business and Economic Research. "But with the great uncertainty about the economy right now, this might lead to relatively more savings," Gunther said. An Associated Press-Ipsos poll of taxpayers found that only 19 percent plan to spend their rebate checks. Among them is Marshall Davis, 58, of Hattiesburg, who's focusing on a new camera. "That will cost a couple, three hundred," said Davis, a retired military veteran.[5] If you are in financial trouble, use that money to try to bail yourself out." In his remarks Friday, Bush acknowledged that many Americans will spend their rebates on basics. "The money is going to help Americans offset the high prices we're seeing at the gas pump, the grocery store, and also give our economy a boost to help us pull out of this economic slowdown," he said. That emphasis on fuel and food prices differs sharply from other comments he has made since signing the economic stimulus legislation. Last month, the president said, "When the money reaches the American people, we expect they will use it to boost consumer spending."[10] Bush said paper checks would begin going out on May 9, a week earlier than previously announced. "The money is going to help Americans offset the high prices we're seeing at the gas pump, the grocery store, and also give our economy a boost to help us pull out of this economic slowdown," Bush said. Democrats said they were glad the rebate checks were about to go out, but suggested that multinational oil companies were not among the businesses the stimulus package was originally designed to help. Bush's emphasis on fuel and food prices differed from other comments he's made since signing the economic stimulus legislation, intended to aid the economy by boosting overall consumer spending — which accounts for roughly two-thirds of the nation's economic activity.[4]

The rebates were the centerpiece of the government's $168 billion economic stimulus package enacted in February and are designed to bolster consumer spending and lift the economy out of the doldrums. While many economists believe the country has fallen into a recession, President Bush last week disputed that contention, saying he believed it was a period of slower growth not an full-blown recession. "It's obvious our economy is in a slowdown.[11]

The government hopes to stimulate the flagging economy by putting some extra cash in people's pockets. President Bush and Congress came together earlier this year to pass a so-called economic stimulus package. The order in which tax filers will receive their rebates will be based on the last two digits of their Social Security numbers, when they filed their '07 tax forms and whether they opt for direct deposit.[12] HARTFORD, Conn. President Bush announced Friday that the Internal Revenue Service would begin depositing rebates into taxpayer accounts Monday four days earlier than expected. Bush said the tax rebates, approved as part of a bipartisan $168 billion stimulus package earlier this year, will help consumers cope with the rising cost of living and lift the country out of what the president refers to as an "economic slowdown."[6]

President Bush said the $110 billion that 130 million households should receive by summer would help offset high gasoline and food prices and "give our economy a boost to help us pull out of the economic slowdown." Pearson, a bachelor who makes $45,000 a year as a groundskeeper for an office building, said he was not so sure about that. He will save rather than spend his $600 rebate, which is what recent public opinion polls found most Americans plan to do. "For the trouble we're in, it's a petty amount," Pearson said.[13] I am expecting to receive a check of about $1,200. Unfortunately, I cannot answer President Bush's call to patriotism by mindlessly spending this money on retail items. Gas prices are at their highest in years as are basic household items including food and energy costs. I plan to split my payment between paying down debt and providing for basic necessities in these trying financial times. I don't think this initiative will be successful at all. America is not doing well financially and smart citizens will not go and spend their money frivolously. They will save or put the money to practical use.[14] The $168-billion stimulus effort aims to boost consumer spending and jump-start the nation's economic activity. President Bush on Friday announced that the stimulus money would come a week earlier than planned, and he said the money also could help cash-strapped families cope with skyrocketing food and gasoline prices. Seventy-two percent of 404 Utah adults surveyed by Dan Jones & Associates - the overall poll had a 5 percent error margin - said they were getting an economic-stimulus check. Of that group, about 1 percent said they would use it to buy food or gas.[8]

"Starting Monday, the effects of the stimulus will begin to reach millions of households across our country," Bush said in Washington. If the 130 million Americans who receive the checks use them for spending sprees, the stimulus plan would give at least a temporary boost to the economy. After two years of soaring gas prices, falling home values and rising jobless rates, many consumers in Palm Beach County and the Treasure Coast say they're not in the mood to shop.[10] Bush has suggested the rebates could trigger a spending spree. "When the money reaches the American people, we expect they will use it to boost consumer spending," he said last month. By saying expressly that people could use these one-time checks to pay for such necessities as food and gas, Bush underscored the deepening challenges facing the economy.[4]

"I'm just going to put it in the bank," said Kist, a public health nurse at the Palm Beach County Health Department. She doubts the checks will do much to stimulate the economy. "It's not that large an amount of money," she said. Lunching at the fountain outside the West Palm Beach Public Library, Valerie Rhaburn, 39, said Friday she will put her payment in the bank, though she'll also spend some of it as Bush hopes - to pay for a baby shower she's giving. John Batista, 71, who bags groceries at a Publix in Stuart, said he will use his check to pay off credit cards. The theory behind the economic stimulus is simple: Millions of Americans will get their checks, then go on a mass shopping spree.[10] This is the week that our economy is supposed to start turning around as the government has put the first tax rebates economic stimulus checks in the mail. Millions of Americans will receive their economic stimulus checks this week.[15] Under the government's economic stimulus plan, 130 million people will receive tax rebate checks for $300 and up, starting Monday.[16] The federal government will send out rebate checks to an estimated 130 million Americans next month under the economic stimulus package law that also includes $44.8 billion in business incentives and help for homeowners facing foreclosure because of the mortgage meltdown.[17]

In addition to tax refunds that averaged $2,287 last year, most Americans will be receiving economic stimulus checks - up to $600 for individuals and $1,200 for couples. Smart taxpayers will remember that this money is not just a windfall. A tax refund is a return of your own money that the government claimed for you this past year.[18] The IRS will issue payments of up to $600 ($1,200 for married couples) plus $300 for eligible children younger than 17, throughout the spring and summer. The first wave of payments will go to people who opted for direct deposit on their 2007 income tax returns. "People who chose direct deposit will receive their economic stimulus payments the quickest," IRS Commissioner Doug Shulman said.[19] People with at least $3,000 in qualifying income may qualify for an economic stimulus payment of $300 ($600 for married couples) plus the $300 per qualifying child payment. They must file a 2007 income tax return by Oct. 15, 2008, to receive a stimulus payment. They can use the simple Form 1040A and provide basic information.[19]

Around 25 percent of all payments will be delivered in the first three weeks, the IRS estimates. The IRS is also offering an online calculator where people can estimate the size of their economic stimulus check based on their 2007 income tax return. That calculator is located at http://www.irs.gov/app/espc/.[20] The extra cash is part of the economic stimulus package intended to help Americans cope with rising gasoline and food prices, as well as aid a slumping economy. The Internal Revenue Service says all checks for those who filed tax returns on time are scheduled to be deposited or mailed by July 11.[21] WASHINGTON -- President Bush said tax rebates will start going out Monday, earlier than previously announced, and should help Americans cope with rising gasoline and food prices, as well as aid a slumping economy. Democrats said they were glad the rebate checks were about to go out, but suggested that multinational oil companies were not among the businesses the stimulus package was originally designed to help.[22] WASHINGTON -- President Bush acknowledged that the economy is weakening, but expressed hope that tax rebates that start going out on Monday should help shore things up. "This money is going to help Americans offset the high prices we're seeing at the gas pump, at the grocery store, and will also give our economy a boost to help us pull out of this economic slowdown," he said Friday in brief remarks at the White House.[23] Originally, the rebates were expected to be spent on big-ticket items rather than necessities like food and gas. Soaring fuel and food prices have shifted the government's expectations towards merely helping Americans hang on through a rough time, a point Bush recognized when he spoke Friday. "The money is going to help Americans offset the high prices we're seeing at the gas pump, the grocery store, and also give our economy a boost to help us pull out of this economic slowdown," the President said.[20] "Starting Monday, the effects of the stimulus will begin to reach millions of households across our country," Mr Bush said. He said it was "obvious" the U.S. economy was in slowdown, but luckily the government "recognised the signs early and took action". "The money is going to help Americans offset the high prices we're seeing at the gas pump, the grocery store, and also give our economy a boost to help us pull out of this economic slowdown," he added.[24] Roughly 130 million households are expected to receive them, and lawmakers are hoping the money will give a boost to the weakening economy. "This money is going to help Americans offset the high prices we're seeing at the gas pump, at the grocery store, and will also give our economy a boost to help us pull out of this economic slowdown," said Bush in brief remarks from the White House.[25]

House Speaker Nancy Pelosi, D-Calif., said that Bush's remarks underscore the need for a second stimulus package, which the administration and GOP lawmakers have so far resisted. "It's galling to think that taxpayers' stimulus checks will be lining the pockets of OPEC," said Sen. Charles Schumer, D-N.Y., referring to record oil prices. "The sad truth is that the average American family will spend almost their entire stimulus check on higher gas prices this year." Under pressure from a collapsing credit and housing market, Bush has repeatedly urged caution in considering more federal intervention, in part because he said the stimulus checks could provide the boost the economy needs. As he has for months, Bush declined to refer to the current economic downturn as a "recession," preferring "slowdown" instead.[6] "Unless the administration gets OPEC to increase oil supply, American consumers are going to be in for a scorching summer of $4 gasoline with no relief in sight," Schumer said. House Speaker Nancy Pelosi, D-Calif., agreed that people "need this rebate to cope with the rising cost of gas and groceries." She said that, while the rebates would help to get the economy moving, there was a need for a second stimulus package "and we have begun some conversation with the administration and Republicans." As he had earlier in the week, Bush used the word "slowdown" to describe the state of the economy. He has denied that the nation is in a recession, although many economists say it is. "It's obvious our economy is in a slowdown.[4] A recent survey of 8,000 consumers, conducted for the National Retail Federation, found that just over 40 percent of rebate money will likely be spent by consumers, with most of the rest going toward debt reduction. House Speaker Nancy Pelosi, D-Calif., agreed that people "need this rebate to cope with the rising cost of gas and groceries." She said that, while the rebates would help to get the economy moving, there was a need for a second stimulus package "and we have begun some conversation with the administration and Republicans." The Associated Press contributed to this report.[26]

Hoping to prop up a faltering economy, the federal government is sending out a total of $105.7 billion in rebates, part of a larger $168 billion stimulus package enacted in February. Local business owners are optimistic that the influx of rebate money could send people into Inland stores and restaurants to spend some of their cash. They agree with economic experts who say nervous consumers won't be going on a rabid spending spree.[26]

Tonya Dicus of Royal Palm Beach plans to pay bills, too. That's not exactly the sort of economic stimulus President Bush had in mind when he pushed for the tax rebates as part of a $168 billion plan to boost the nation's struggling economy.[10] U.S. consumers are due to receive tax rebates totalling more than $100bn ('50bn) from Monday as part of a plan which President George W Bush says will encourage spending and stimulate the economy.[14]

Fortunately, we recognized the signs early and took action,''' Bush said at the White House. '''On Monday, the Treasury Department will begin delivering the first of these tax rebates by direct deposit. During the first week alone nearly 7.7 million Americans will receive their tax rebates electronically. Then on May 9th, the IRS will begin mailing checks to millions more across America,''' he said. Working with unusual speed and bipartisanship, Congress cleared the first stimulus package Feb. 7 in a bid to get cash into the hands of American consumers quickly in hopes they would spend it.[27] "Which is something, because the last time we got a rebate, in 2001, I believe I used it to pay for a divorce." Whatever Mason spends it on, she and an estimated 1.2 million other Mississippi taxpayers will get their hands on the money earlier than previously announced: The U.S. Treasury will begin delivering the economic stimulus rebates on Monday. The first will go out to those who chose to receive their 2007 tax refunds by direct deposit.[5]

Fortunately we recognized the signs and took action," Bush said Friday in announcing that the rebates were going out a few days earlier than expected. The rebate checks are coming as the IRS wraps up sending out the normal refund checks to taxpayers based on their 2007 tax returns which taxpayers had to file by April 15. Thirty-five percent of those responding to an Associated Press-AOL Money & Finance Poll earlier this month said that they planned to ruse their refund checks this year to pay utility, credit card and other bills. That was up from 27 percent who said they planned to use their tax refunds to pay bills a year ago. The IRS said all checks for those who filed tax returns on time are scheduled to be deposited or mailed by July 11.[11] President Bush said Friday that the U.S. economy is in a "slowdown" and he encouraged taxpayers to take all necessary steps to receive rebate checks through the federal economic-stimulus plan that he signed into law earlier this year.[25] President Bush announced Friday that the government will start releasing checks from the economic stimulus package almost a week early. That's good news for many hopeful Suncoast residents who can't wait to get their hands on that green. Alaida Lares has worked for the IRS for 32 years, and even she didn't know about the plan to release the rebate checks.[28] As congressional Democrats debate when and how to advance a second economic stimulus package, President Bush announced Friday that tax rebates approved earlier this year will start going out Monday.[27] President Bush was optimistic about the effect when he announced Friday that economic stimulus tax rebates would begin arriving next week, about a week ahead of schedule.[26]

What is it: A measure passed by Congress and and signed by President Bush to ease the impact of the economic climate by sending most Americans tax rebate checks.[29]

If you check your bank account and notice there's some extra money in there, don't be alarmed. Beginning Monday, millions of Americans will receive their tax rebate checks earlier than expected. The payments were originally scheduled to come out May 2 but instead, some 7 million Americans will get their checks directly deposited into their bank accounts this week.[2] More than 7 million Americans should see the tax rebates in their bank accounts in the coming week. Those who chose to receive their refunds through the mail should have their checks early next month.[3] Starting today, seven million Americans will have an easier time paying for gas and groceries this week, as tax rebate checks begin showing up in bank accounts.[30]

Starting this week, millions of Americans will receive tax rebate checks ranging from $300 to $600, or $1,200 for married couples.[31] The amount ranges from $300 to $600 for individuals and from $600 to $1,200 for couples, plus $300 for each child. Taxpayers who are eligible to receive an electronic deposit will get their rebate first. Those whose Social Security numbers' last two digits are between 00 and 20 will get their rebate by Friday, followed by those from 21 to 75 by May 9, and from 76 to 99 by May 16. The rebate schedule is much longer -- from May 10 to July 11 -- for those who will receive a paper check. That schedule follows the same format based on the last two digits of their Social Security numbers; those with lower numbers get a check first.[9] The direct deposits and the paper checks are being processed by the last two digits of a taxpayers' Social Security number. For people receiving direct deposits, those with a Social Security number ending in 00 to 20 will have their economic stimulus payment deposited to their bank account by May 2. Those with Social Security numbers ending in 21 to 75 will get their direct deposits by May 9 and those with Social Security numbers ending in 76 to 99 getting their deposits by May 16.[11] The payments are based on the last two-digits of the mail filer's Social Security number. The IRS has issued a schedule for payments as direct deposits or paper checks. The economic stimulus law allows Social Security recipients and recipients of certain veterans' benefits and Railroad Retirement benefits to count those benefits towards the qualifying income requirement of $3,000.[32]

A: You've raised a few points. Form 1040A: Special rebate rules apply to people who don't ordinarily have to file a federal income-tax return because their income is so low. If you're in this category, you may be eligible for a rebate if you had at least $3,000 last year in "qualifying income" (such as Social Security, veterans or railroad retirement benefits) and you file a return this year, said Bob D. Scharin, senior tax analyst for the Tax & Accounting business of Thomson Reuters. The IRS prefers that people in this category use U.S. Form 1040A. Enter the amount of your Social Security or other benefits on Line 14a.[33] There are only certain people who are considered eligible. Residents and resident aliens, those are determined by their Social Security numbers assigned by the Social Security Administration," he added. He said individual income tax returns filed with their office are also submitted to the Social Security Administration for verification purposes. "When you file your return, we send it to the network to validate your SS number," he said. An undetermined number of foreign workers on the islands have received letters from the U.S. Internal Revenue Service with instructions on how to determine the amount of stimulus payments they may receive. One of them showed this reporter the letter from the IRS which states: "We are sending this notice to let you know that based on this new law, the IRS will begin sending the one-time payments starting in May.[17] All stimulus payments will still be distributed in order of the last two digits of the Social Security number belonging to the tax return. For taxpayers who did not select to have their refund distributed through direct deposit, the process will also begin a week earlier, on May 9.[20] Payments to taxpayers slated to get paper checks will start to go out May 9 - one week earlier than originally planned. The order in which tax filers will receive their payments will be based on the last two digits of their Social Security numbers. Issue #1 - America's Money: All this week at noon ET, CNN explains how the weakening economy affects you.[16]

A. To receive a payment, taxpayers must have a valid Social Security number, make at least $3,000 in income and file a 2007 federal tax return.[10] You're eligible if you have a valid Social Security Number (SSN), can't be claimed as a dependent on a tax return and have either an income tax liability or "qualifying income" of at least $3,000.[32]

The U.S. Treasury started sending out rebates today to people who received their TAX RETURNS through DIRECT DEPOSIT. But when you'll be getting your money, if you're eligible for the rebate, depends on the last two digits of your social security number.[34] If your social security number ends with numbers 00 through 20, your rebate could be in your bank account as early as May 2. People with ending numbers 21 through 75 should have their money by May 9. Others with ending numbers 76 though 99 can expect to have their money by May 16.[34] If a person calls a consumer and asks for a Social Security number and bank account to complete a rebate, Rodriguez says that person should hang up the phone and report it to the IRS at 1-800-366-4484. "People need to be aware that there is fraudulent activity happening and should be careful with their personal information," Rodriguez says. "Law enforcement and the IRS are doing everything they can to prevent this activity."[35]

In total, the government expects 130 million low and middle income taxpayers will receive a rebate check, and close to 8 million will receive their money this week. Retailers are already finding ways to woo the money out of taxpayers' bank accounts and into their own pockets. Some grocery stores have set up programs where consumers will be able to trade in their rebate checks for store gifts cards.[36] WASHINGTON The government started depositing thousands of rebate checks in taxpayers' bank accounts on Monday, earlier than originally scheduled, with the Bush administration hoping the payments will give a jump-start to a weak economy. The Internal Revenue Service started making the deposits at 8:30 a.m. EDT Monday with the goal of completing 800,000 direct deposits each day over the first three days of this week.[11] The first direct deposits of the federal tax rebates will begin hitting bank accounts on Monday, according to the Internal Revenue Service, and paper checks will be sent starting next month.[25]

If you chose direct deposit when you filed your tax return, your stimulus payment will also go right to your bank account. Otherwise, you will receive a check.[32] Even though April 15 has passed, there is still time for retirees, disabled veterans and others who normally do not file a tax return to submit a 2007 form to receive an economic stimulus payment. The IRS says rebates for all those who filed returns on time should be mailed or deposited by July 11th.[37]

The government's economic stimulus program begins Monday, and William Pearson of Los Angeles is ready to receive his $600 tax rebate -- and hoard it.[13] Tax rebates long promised by the federal government should begin showing up in bank accounts Monday, officials said. The rebates are part of an economic stimulus plan proposed by the White House and passed by Congress earlier this year to reverse the effects of a steep economic downturn caused by a credit crisis then fed by high fuel and food costs.[38] The president said tax rebates from the stimulus package of between $300 and $1,200 will begin hitting bank accounts Monday.[25]

No major new initiatives are expected from the president's speech. He is likely to say that Democrats should allow the $157 billion stimulus deal to take effect before calling for any further stimulus packages. Checks of between $300 and $1,200, plus $300 per child, are going out this week and next. The Federal Reserve is also expected to make its last interest rate cut for a while as it tries to boost the economy without causing inflation, which is a growing concern because of global food shortages. The other big event coming up for the president is his daughter Jenna's wedding, on May 10, to Henry Hager, at the Bush family ranch in Crawford.[39] Paper rebate checks for others will start being sent on May 9, a week ahead of schedule, the administration said. The speedier timeframe gave Bush a chance to focus attention on a stimulus package that he has cast as a virtual lifeline for the economy, insisting repeatedly in recent months that the expenditures will result in a surge of consumer spending to kick-start the economy.[6]

According to a National Retail Federation survey conducted in February by BIGresearch, consumers plan to spend 40.6 percent of tax rebate checks, which will provide an immediate $42.9 billion boost to the economy.[30] Only three out of 10 consumers plan to spend the tax- rebates, according to the Reuters/University of Michigan report on consumer sentiment issued today. Most of those polled said they intend to use the money to pay down debt or boost savings, the report said. Consumers are growing increasingly anxious because the economy has lost almost a quarter-million jobs this year, the cost of refueling a car is up 17 percent and property values have fallen.[40] April 28 (Bloomberg) -- Chrissi Squires, 21, a mother of three from Fort Carson, Colorado, intends to pay off credit card debt. Cheryl Coon, 61, a homemaker from Franklin, Pennsylvania, has her eye on a new washing machine. Martha Hinson, 62, a teacher's aide in Conley, Georgia, said she's getting a new pair of dentures. As the U.S. Treasury prepares to start issuing $117 billion in rebate checks this week, taxpayers in dozens of interviews around the country said they plan to spend the money rather than save it -- exactly as policy makers hoped.[41]

Altogether, the Treasury plans to distribute about $107 billion in rebates to more than 130 million people. The idea is to put money into people's hands quickly so they can spend it and help stimulate the nation's faltering economy.[33] The rebates range from $300 to $1,200 and are the centerpiece of the government's $168 billion stimulus package, enacted in February, to brace the teetering economy. Roughly 130 million households are expected to get them.[23]

Jeff Thredgold, Zions Bank's chief economist, says the stimulus checks could jump-start the economy a bit, if spent on goods and services. He notes, the government is borrowing the money to provide the checks, a move that essentially worsens the national deficit, which could reach $450 billion this year.[8] The government is giving you back your own money so you can spend it, and by spending it on your choice of goods or services, you are providing jobs and income for other Americans. That'''s the way the economy works, except the part about the government giving you back your own money, which I won'''t get into right now. '''Support those local businesses that support our community''' is a theme I'''ve harped on for years, and now, with the extra cash coming soon, I'''m at it again. That amount of money -- $50 million -- if even partially spent with local merchants, professionals and other service-providers, will have an enormous impact on our community which will be felt for many years to come.[15]

From today millions of Americans will start to receive payments of up to $640 each. It is part of a plan by President Bush to stimulate the American economy.[42] More than 130 million people who filed taxes for 2007 will receive rebate checks, which President Bush hopes will stimulate a weak economy.[5] U.S. President George Bush says tax rebates for more than 130 million American households should help stimulate an economy hurt by falling home prices and higher food and energy costs.[3] April 25 (Bloomberg) -- President George W. Bush said the tax rebates Americans will start getting next week will boost the economy and help them pay their bills.[40]

Shares of apparel makers ended mostly higher Friday, as President Bush expressed hope that tax rebates which start going out on Monday will help shore up the economy.[43]

The survey group also said the tax rebates are likely to have only a limited effect on the worsening economy. Bush's rebate remarks came before his visit to Connecticut, where he touted anti-malaria efforts at the original Boys and Girls Club chapter in Hartford, and then hosted a $750,000 GOP fundraiser at the South Kent estate of former Nixon administration aide Henry Kissinger.[6]

There's no reason to stop with your tax rebate. This is the time of year when millions of taxpayers receive sizeable refunds from the IRS. So far this year, the average refund is $2,464, according to the IRS. Combine that with your rebate, and you've created a solid foundation for retirement security.[31] If you didn't file (the deadline was April 15), you can file for the rebate next year. Direct deposit : The first taxpayers to receive rebates will be those who chose to receive their 2007 tax refunds by direct deposit. All others should begin receiving paper checks one to two weeks later.[5] Some 800,000 tax filers will be receiving their checks via direct deposit from the government this week, a few days ahead of schedule. Friday, Bush addressed taxpayers, prepping them for the early arrival of this economic band-aid.[20]

San Antonio taxpayers should start receiving economic stimulus rebate checks on Monday, April 28, as the U.S. Treasury will be depositing money directly into accounts almost a week early.[35] The rebate checks are part of a $168 billion economic stimulus plan that Bush signed into law more than two months ago.[40] FINANCE Secretary Eloy Inos says the rebates that will be provided by the $152 billion federal economic stimulus package will not benefit nonresident workers, but some of them will receive checks. "The general rule is that (the U.S. rebates) do not apply to nonresident aliens," he said in an interview.[17] The giant multi-national chains have launched massive marketing plans to capture as much of that money as possible. One large grocery chain, I'''m informed, is offering a special gift card: If you use your check to buy a $300 card now, they'''ll let you buy $310 or so worth of groceries with it later. Other big corporations have their own schemes to get as much of your money as possible. I don'''t fault them for it. I'''m sure that their investors will profit handsomely, before sending on a share of our economic stimulus funds to the manufacturers of their products in China and beyond. There is little question that Wall Street and China will benefit nicely from this infusion of our cash.[15] The leisure industry is not relaxing. Internet travel site Expedia said it's offering a $200 coupon for certain vacation packages - to "stimulate the U.S. economic stimulus package." Retailers are reacting, too: Wal-Mart plans to cash tax-rebate checks at its stores while running promotions coaxing shoppers to check out the "everyday low prices" there.[5]

Pay down credit card and other high-interest debts (including payday loans). About 20 percent of all credit cards are "maxed out" by their owners, but applying your refund and economic stimulus check - nearly $3,000 for many - to the highest-interest-rate balance will start you on your way to debt freedom.[18] Although the tax rebate will increase spending temporarily, "the global rise in food and fuel prices, the decline in home values and higher credit standards are likely to persist for some time and lengthen the period of stagnation in consumption," the report found. The National Retail Federation found more enthusiasm about spending in its recent survey, with consumers more likely to buy something (40.6 percent) than pay debt (28.4 percent) or save (18.7 percent). Chris Fredette, the owner of Carolina Custom Sound in Advance, expects his business will increase by up to 20 percent between now and the end of June because of the stimulus rebate.[9] The survey also found that the $105.7 billion distributed in tax rebate checks will be used to pay down debt ($30 billion), saved ($19.8 billion), invested ($4.4 billion), and used to pay down medical bills ($4.6 billion).[30]

Getting Triad residents to spend their economic-stimulus tax rebate may be harder than the Bush administration expected. With the rebate being electronically deposited into taxpayers' accounts as soon as today, area residents said they are leaning toward saving for a rainy day or paying debt rather than making a big purchase.[9] WASHINGTON (AP) — Those long-promised tax rebates are now on their way to U.S. taxpayers. People who chose to have their rebates directly deposited into their bank accounts will see the money there beginning Monday.[21] WASHINGTON -- Tax rebates are coming out earlier than expected and even could be appearing in your bank accounts as soon as Monday, President Bush said yesterday.[44] The checks aren't in the mail yet, but if you have your tax refund direct-deposited, your tax rebate could be in your bank account as soon as today.[37]

"Starting Monday, the effects of the stimulus will begin to reach millions of households across our country," Bush said Friday in remarks on the South Lawn of the White House. Those first rebates will be directly deposited into people's bank accounts.[4] The Internal Revenue Service has begun to transfer economic stimulus payments to millions of Americans, some of whom will see payments in their bank accounts as early as today.[19] The federal economic stimulus payments will start hitting Americans' bank accounts this week.[5]

A. Starting next week, the Treasury Department will send economic stimulus payments to more than 130 million households.[10] It's an economic stimulus payment that more than 130 million households will receive. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.[32]

"We know there are many people who are eligible for an economic stimulus payment who have not filed a tax return.[19]

Some low-income workers, Social Security beneficiaries and others are not required to file a return but are still eligible to receive stimulus checks. To receive their payment, they must file a 1040A federal tax form by Oct. 15 and write "Stimulus Payment" at the top, or use a special electronic form located on irs.gov.[12] Tax filers who do not owe income taxes, but have at least $3,000 in income - which can include Social Security and disability payments - will get $300 rebates per person or $600 per couple.[12] To qualify : Must have at least $3,000 in income to receive the minimum rebate of $300; the minimum rebate for a couple filing jointly is $600. An individual tax filer will receive a maximum rebate of $600; for a married couple filing jointly, it's $1,200.[5] Individuals who filed a tax return for the 2007 reporting year can expect to receive up to $600 back from the government; married couples can expect $1,200 plus an additional $300 per child.[35]

The payments will be up to $600 for individual taxpayers, $1,200 for couples plus $300 per child. Congressional Democratic leaders say they will press Bush for more legislation to spark the slowing economy. They are weighing a plan to boost spending on highways and other infrastructure as well as other spending measures.[40] Officials said that about $50 billion of rebates should be in taxpayer hands by the end of May, and more than $100 billion a month later. Congressional Democrats, while saying they welcomed the rebates that they also supported, said they were troubled by Bush's shift in emphasis toward using the money for staples rather than broader consumer spending.[6] "Economic growth in the third quarter will surely be higher than it would have been,'' said Chad Stone, chief economist for the Center on Budget and Policy Priorities, a nonpartisan Washington-based group. Whether the rebates trigger enough spending to end the economic slowdown, "that's the $64,000 question,'' he said. Taxpayers interviewed last week were less interested in the underlying theory than using the rebates to offset increased costs of necessities such as food, gasoline and shelter. "It can help out, but it's still not enough to do much with,'' said Scott Davis, 44, a tradesman on strike at auto parts maker American Axle & Manufacturing Holdings Inc. in Detroit.[41]

Almost 7.7 million Americans will receive rebates, ranging from $300 to $1,200, in the coming week via direct deposit.[26] The initiative, aimed at some 117 million U.S. homes, will see up to $600 being paid out to individuals, while married couples could receive up to $1,200. Readers from across the U.S. tell us how they will use the money and whether they will spend it, save it or pay off their debts.[14] I would sit on it, or use it to pay my bills." A Los Angeles Times/Bloomberg poll found that 34 percent of eligible taxpayers were keen to use their rebates to wipe out debt, and that 31 percent wanted to bolster their savings. Only 18 percent of respondents said they planned to spend the money.[13]

I would love to see some of these people who rely on the government and the working american to pay all their bills: ie food stamps, passport healthcare, medicaid, etc. to get off their behinds and work the hard as the rest of us. These people should have a time limit to use goverment assistance, no longer than 5 years, enough time to get an education and a good paying job. It's ridiculious how many people abuse the system, that's why our economy is so in debt.[11] According to research firm NPD Group, restaurant visits rose by 2 percent for about six months during and after a similar federal stimulus program in 2001. Last year, Wilma Camacho-Burton saw steady foot traffic at Citrus Punch Designs, her women's clothing store in downtown Riverside after people received their annual tax refunds. She expects a similar response with the stimulus checks. Because of the economy, customers have lately been buying fewer accessories with their clothing purchases. "From what my customers are telling me, they're probably going to wait for just before Mother's Day to do their spending," she said.[26] Radio Shack customers will receive a 10 percent discount on purchases of $50 or more when a stimulus check is used. At Jewel-Osco, customers can turn their checks into gift cards of $300 increments plus an additional $30 per card. Spending the afternoon with her mother in Orland Park, 28-year-old Christina Rascon didn't have to think twice about how to budget her check.[29]

Democratic New York Senator Charles Schumer focused on the impact of rising gas prices. 'It's galling to think that taxpayers' stimulus checks will be lining the pockets of OPEC,' Schumer said. 'Unless the administration gets OPEC to increase oil supply, American consumers are going to be in for a scorching summer of $4 gasoline with no relief in sight,' he added.[20] Democrats were quick to pick up on the change of focus. "It's galling to think that taxpayers' stimulus checks will be lining the pockets of OPEC. The sad truth is that the average American family will spend almost their entire stimulus check on higher gas prices this year," said Sen. Charles Schumer, D-N.Y., chairman of the Joint Economic Committee of Congress.[4]

And, of course, when the price of gas goes sky-high, so does the price of everything else. This week, things will start getting better, because the first of the Federal Government'''s Economic Stimulus checks will be arriving, with more coming every week for the next few months.[15] The economic stimulus checks are also returned taxpayer dollars. Americans receiving substantial amounts back from the federal government have the opportunity to make a real difference in their financial picture.[18] SARASOTA COUNTY - The check is in the mail. Almost one million taxpayers will get their economic stimulus checks early.[28]

The U.S. government plans to give rebates to consumers totalling more than $100bn ('50bn), as part of a wider economic stimulus plan, imminently.[24] The rebates are the single most important feature of the economic stimulus plan, but businesses will also benefit from $50bn in tax cuts.[24]

The economic stimulus legislation was passed in early February. The rebates are the'shot in the arm' the U.S. economy needs, President George Bush said.[20] In February, President Bush signed a multibillion dollar economic stimulus package in the hope of injecting the economy with a triple-espresso-like shot in the arm.[29]

The checks are the centerpiece of an economic stimulus program signed into law by President Bush in February.[16]

President Bush is betting that the stimulus checks will pump life into the economy.[10]

"Beginning Monday, the effects of the stimulus will begin to reach households," President Bush said Friday. "This money is going to help Americans offset the high prices we're seeing at the gas pump and at the grocery store."[16] "The money is going to help Americans offset the high prices we're seeing at the gas pump and the grocery store,'' Bush said at the White House. "It will also give our economy a boost to help us pull out of this economic slowdown.''[40] "I know what the goal is for the stimulus, but I'm more than likely to invest it and try to make more money that way," said Pinkie Shuler of Winston-Salem. Trean Ellis of Denton said that she and her husband are putting their stimulus money toward a down payment for a home they are planning to build in Lexington. "It may end up being a small part of what we need, but every bit helps in this economy with gas prices being the way they are and both of us commuting to work," Ellis said. "It would be nice to buy a big-screen TV but we've got other priorities now."[9]

Louie Lopez has no doubt how he'll spend the $900 economic-stimulus check the federal government is sending his way: He's taking a family vacation. "With the economy and everything the way it is, it's better to use it for recreation," said the father of two, who is trying to beat record-high gas prices by taking TRAX to get to work.[8] "It'll be around $600. It's going to be pretty big," he said. With an economy on the decline, many Southlanders are opting to put their checks toward practical expenses, like paying off debt or making improvements around the house. That comes as no surprise to St. Xavier University finance professor Paul J. Belsky, who describes today's mood as "cautious optimism." "Whether or not households are going to get their checks and spend them - which is what this plan envisions - I don't know," he said.[29] "For people who've gotten themselves in serious financial problems. carrying a bitty $600 check is not going to do anything," said Pamela Perlich, a senior research economist at the University of Utah's Bureau of Economic and Business Research. "What's wrong with the economy now is all the problems with the financial market," she said. "This is going to have no impact on that at all.[8]

Keagle has seen several similar economic cycles over the past 40 years, and his restaurants' business currently is down about 10 to 15 percent from a year ago. "I don't think a lot of people are going to take their rebate money and buy a $30 steak at Sycamore Inn," Keagle said.[26] We have a new addition and the grandparents are excited to meet her. My rebate check should be automatically deposited this week, but I'll be saving it to spend on my trip to France in the fall. Most people I know are just looking forward to receiving theirs so they can have some gas money.[14] The delivery date of paper checks will be bumped a week as well, starting May 9th. "They want to get the money out there to the people because of the need." The President hopes the money will go right into local economies, but that's not how people told us they will spend it.[28]

What's good for the country is how we're doing individually." According to a 2008 America Saves survey, reported by the American Bankers Association, just 28 percent of people nationwide put away 10 percent of their income. Just 57 percent of those surveyed sock away enough for retirement. A couple of people interviewed at the 3300 South TRAX station last week said paying bills was a priority for them in thinking about how to spend their economic-stimulus checks. One man said he was earmarking the cash for upcoming medical bills.[8]

"Demand for high-definition is going crazy right now, with prices going down and technology improving," Fredette said. "I'd say about 70 percent of the customers who had been thinking about improving their home-entertainment center are likely to go ahead now because of the extra tax rebate. "It also may make a difference in them buying a bigger TV than they had originally planned." Even as gas and food prices are taking a bigger chunk out of her budget, Charmin Bell of Winston-Salem said that her rebate check needs to go to paying off bills.[9] Retailers have already come up with ways to take advantage of the extra cash the tax rebate checks represent. Many retailers are offering a 10 percent bump if you trade your stimulus check for gift cards to be spent only in their stores.[45]

House Speaker Nancy Pelosi, D-Calif., Majority Leader Steny H. Hoyer, D-Md., and Minority Leader John A. Boehner, R-Ohio, hailed the rebates at a noon press conference. They remain divided over whether and when a second stimulus is needed. Bush and congressional Republicans thus far have said they want to wait until they see what impact the tax rebates have once they reach consumers''' pockets. Democrats want to move ahead now with steps such as an extension of unemployment benefits, expansion of food stamps and infrastructure spending to create jobs.[27] Bush came in with a plan for tax cuts. Originally, that was based on the government having a surplus and it was packaged as giving people their own money back. When the surplus disappeared, due to the recession and the tax cuts, he kept pushing the tax cuts as a jobs and stimulus package.[46]

To spend or save - that is the economic question. Bill Casper plans to buy a handgun with his rebate, partly because he said he finds the irony hilarious. "I think it would be so fitting to use that money from the federal government to buy a gun because so many politicians are always trying to take them away," said Casper, of Oak Lawn. Jake Banjeglav, of Mokena, believes it's time for a treat - albeit a painful one. "I'm getting a tattoo," he said.[29] If you receive a $300 rebate check, you can get $330 in gift cards from the retailers. You've committed to spend your entire check in their stores, and linking the rebates to gift cards is a smart tactic because shoppers usually spend more than the value of the cards when they use one.[36] If you meet the criteria, you are still eligible for a stimulus payment. The quicker you file, the quicker you'll get your payment," he said. (Keep in mind that the IRS often uses the terms "economic stimulus payment" or "stimulus payment" instead of "rebates.") As long as you file by Oct. 15, you'll receive a rebate this year, he said.[33] To help you estimate your rebate amount or determine whether you qualify, the IRS has provided an Economic Stimulus Payment Calculator at www.irs.gov/ app/espc.[5] Visit the IRS website for more details on the economic stimulus payment.[34]

IRS begins electronic payments to tax filers who qualify for economic stimulus.[36]

Adjusted gross income : As defined by the Bureau of Economic Analysis, is the taxable income before exemptions and the standard, or itemized, deductions reported on federal income tax returns. Eligibility : Some 20 million Americans aren't required to file a return because their income is too low, but they must have filed to receive a rebate. [5] When: Payments will start going out May 2 through the summer. Those who e-filed will see their payments the quickest. Tax returns processed by April 15 should receive their rebates by mid-July.[29] If you filed a tax return after April 15, you'll likely receive the stimulus payment about two weeks later than the schedule shows.[32] Your stimulus payment is a one-time tax cut - an advance on a credit you'll receive on your 2008 return.[12]

Checks are being distributed to people who file 2007 tax returns. Those who opt for direct deposit with the Internal Revenue Service will start getting payments before those who use the mail.[16] The Treasury Department said it hopes to get the first $50 billion out by the end of May. People who use direct deposit will get their payments soonest.[12] People who use direct deposit also will be among the first to receive the payments starting April 28.[32]

If you chose to receive payment via direct deposit, you can expect a $600 boost in your checking account as soon as today. With all that newfound cash burning a hole in your pocket, it's only right that you start eyeing some tech goodies - and maybe some necessities, too. These 16 products (priced from $500 to $600) are all highly rated by PC Mag analysts, and fit your newly enlarged budget. Whether you're on a tech spending spree or just want a practical computing makeover, you can have anything on this list.[47]

Any spending generated by the stimulus rebates should garner ripple "multiplier" effects over the next few months, the economist said. In the meantime, major retailers are jockeying to get consumers to send some of those rebate dollars their way. Sears Holdings and grocer Kroger Co., which operates Ralphs, are offering discounts and freebies to consumers who turn their rebate checks into gift cards. Home Depot is inviting shoppers to spend their rebates on eco-friendly light bulbs and other energy-saving products.[26] Chapman University economist Esmael Adibi said the latest national consumer sentiment data -- the lowest reading since the early 1980s, according to a monthly Reuters/University of Michigan index -- doesn't bode well for major spending with the rebate money. "At the most, 50 or 60 percent of that money will be spent," he said.[26]

The coming tax rebates have yet to inspire much confidence in consumers. The University of Michigan reported Friday that its index of consumer sentiment decreased to 62.6 in April, from 69.5 the prior month. That marked a decline from its preliminary estimate of 63.2 issued on April 11. It's also the lowest reading for the index in over a quarter-century, and the report showed that expectations for the future are gloomier while inflation expectations are rising. Many investors on Wall Street have concluded the U.S. economy is already in recession as the national housing market posts its largest price declines on record since the Great Depression.[25] '''And we have begun some conversations with the administration and the Republicans on that.''' The tax rebates, which range from $300 to $600 per individual (double for married couples) are expected to reach some 130 million households by this summer.[27] The current plan includes tax rebates reaching up to $600 for individuals and twice that amount for married couples, with an additional $300 per child.[20]

The IRS will send the rebates - up to $600 for an individual, $1,200 for a couple and an additional $300 for each dependent child - a week earlier than previously announced, Bush said Friday.[10] In general, the minimum rebate amount will range from $600 to $1,200 if you're married and filing a joint return, $300 to $600 if you used another "filing status" on your federal income-tax return (such as "single" or "head of household").[33]

The stimulus package entitles a single taxpayer a rebate of up to $600, and $1,200 for married couples, plus additional amounts for each qualifying child.[17] The stimulus allows for a 5% phaseout rate for households above the income caps of $75,000 for single filers and $150,000 for joint filers. The rebates of those taxpayers will be reduced by the amount of income above the cap multiplied by 5%.[12]

How much: For individual taxpayers who make less than $75,000, the stimulus check translates to up to $600.[29] The club is running a promotion that matches the full price of a stimulus check up to $1,200.[29]

The Government begins distributing the economic stimulus checks today, four days earlier than expected.[48] The Government will be sending out those economic stimulus checks starting Monday.[49]

Surprise! Economic stimulus checks are coming out earlier than expected, thanks to a new computer program at the Treasury Department, which can update records daily instead of weekly like the old system.[47] A couple of months ago after we got the news about the economic stimulus package, I first suggested using your check to boost our own backyard by remembering the hundreds of smaller, local retailers and service-providers who are the backbone of our community.[15]

NEW YORK (CNNMoney.com) -- The federal government on Monday started depositing checks into the bank accounts of 800,000 Americans in the first installment in a weeks-long effort to boost the economy.[12] By the end of next week, checks will have been deposited into the bank accounts of 7.4 million people. Most people will get their payments by July 11.[12]

The Treasury will send more than 7 million tax rebates electronically next week and on May 9 will begin mailing checks to U.S. households.[40] U.S. President George W Bush said the tax rebates, aimed at some 117 million U.S. homes, would be given starting Monday. They had been due to go out in May.[24] Florida consumers who face foreclosure would be wise to use the tax rebates to make a mortgage payment, said Jessica Cecere, president of the Consumer Credit Counseling Service of Palm Beach County and the Treasure Coast.[10] Denise Mason of Union may use her chunk of the federal tax rebate to pay for a new husband.[5] I will be receiving a tax rebate, and all of it will be going to pay a small portion of my income tax bill for last year.[14]

"I am going to be paying oil bills, and that won't even cover that,'' said Kathleen O'Neill, 52, a waitress at the Miss Bellows Falls Diner in Bellows Falls, Vermont. "It's a no-win because you have to send it out to the oil company, the gas companies and now the mortgage companies.'' This is the 10th time since 1962 that the federal government has attempted to spur the economy through tax benefits aimed at businesses and individuals. Of those, four included cash rebates, according to the House-Senate Joint Committee on Taxation.[41] U.S. officials are hoping the rebates will get Americans to spend more money and give the economy a boost.[50] "If we could see the economy leveling off in the future, we might spend it, but we're trying to be realists. This money looks like something everyone's going to have to hold on to." Nearly 7.7 million households are expected to receive money this week, and 130 million by summer.[13] Beyond that, leave the rest of the work to the IRS, which will calculate how much you will receive and send you your check. Issue #1 - America's Money: All this week at noon ET, CNN explains how the weakening economy affects you.[12]

The Bush administration is hoping that people will spend the money on clothes and other items, to help bolster the economy.[43] My wife and I have decided to put the entire rebate cheque into our children's college funds. Yeah, it's not exciting, and no, it won't help out the economy right now - sorry George! - but ultimately our children are going to be the ones paying for the rebate cheques, so the money might as well go to help them and their future. It's a much better investment than blowing the cheque on stuff we really don't need.[14]

My husband plans on using half of it to pay off student loans, while I will use the other half to establish a savings account for our baby. While it's nice to have a little extra cash on hand, this rebate isn't helping us beyond what we could manage already. I wish they would have used the money for something more beneficial, like creating universal health care, or investing it in alternative energy.[14] "When I get my rebate check I'm going to use it to pay off my debt, or put it towards debt," said Rhonda Mohr.[49] "Some people will spend it, but will everybody who gets a check spend it? I have my misgivings about that." More likely, Belsky expects people to use some of their checks to pay down outstanding debt and the rest as discretionary spending.[29] "I'm thinking, a laptop or home improvements,'' said Chad Thomas, 40, a commercial property manager in New Ulm, Minnesota. Mark Caswell, 43, director of a communications team for BI, a privately held business consulting company in Edina, Minnesota, said he plans to renovate his family's house in Maple Grove, a Minneapolis suburb. "The market is tough to try to sell your home, so we're going to try to fix it up,'' he said. "It's better to make improvements as we need.'' Others said they planned to use their payments to reduce credit card debt, which may hasten more spending later, according to economists including Stone.[41] A CNN poll from last month found that just 21% of poll-ees plan on spending the money, while 41% plan on paying down bills and credit card debt.[45]

The National Retail Federation is on the alert, of course, predicting Americans will spend about $43 billion of the rebate, while socking away the rest, or paying off debt and medical bills. [5] Just so you know. I'm guessing they'll accept your tax refund, too, if you're getting one. According to some surveys quoted in the article, between 11 percent and 20 percent of Americans appear likely to spend their rebates on travel.[51]

The tax rebate checks are going out early, which is a few extra days you get to play with your new iPhone. Or GPS device. Or destkop PC. Or. or.[47] Lastly, you can choose one of many different ways to save your tax rebate check.[45] There's plenty of excitement around the fact that tax rebate checks will start going out today.[45]

The United States government has begun handing out one hundred-billion dollars in tax rebates to people across the country.[42] War, environmental degradation, the use of cheap slave labor - all are very profitable, and that's what the CEOs and shareholders want to be able to use. Shareholders at the largest corporations (Chevron, etc.) routinely vote down any dissent over the environment or human rights - they love Exxon's CEO and his business and PR practices, really. The net effect of this system is that most real decisions in our country are made by politicians and government officials who are entirely owned by various members of this "corporatocracy" or "plutocracy" or "oligarchy". This has also resulted in the growth of aristocratic mentality (witness the cancellation of the estate tax) - Clinton, for example, is probably outraged that the peasants didn't all jump on her train - yes, this is a growing cultural phenomenon. This is really the role that modern economics plays. It provides a system which equates "healthy and good" with the fortunes of the wealthiest people on the planet.[46] To avoid or ignore the truth is irresponsible. To continue an economic "trickle down" plan that Bush and his cronies knew would not work was irresponsible.To avoid all regulations, finincial, environmental, industry standards, and by their obvious contempt of government, these paople have evaded responsibility for the entire time they have been in office.[46]

WASHINGTON (AP) -- About 800,000 taxpayers will have a little more money in their bank accounts by the end of the day today. The IRS began making direct deposits this morning. The government plans on 800,000 such transactions each day, today, tomorrow and Wednesday.[52] If you filed a tax return by April 15 and had your tax return deposited directly into your bank account, then your rebate will also come in that form. Those are scheduled to start Monday, April 28.[32] In general, if you filled out the "direct deposit" section of your return, the Treasury will deposit your rebate directly into your bank or credit-union account, Internal Revenue Service spokeswoman Peggy Riley said.[33] The Treasury Department will begin sending rebates via electronic direct deposit Monday, and the Internal Revenue Service will start mailing checks May 9.[13] The IRS says the first direct deposits of rebates will begin Monday, with paper checks to follow starting next month.[23] If the last two digits are between 00 and 20 and if you signed up for direct deposit, then you should get your rebate check today.[30]

Many retailers want you to bring in a bank statement to prove you received the rebate check. Some retailers are so eager to get you into their stores, they will give you these deals even if you don't have a check or a statement, or even if you're not getting a rebate. They just want your business. Some stores are linking deals to the stimulus package in their advertising, but don't really have any tie to the rebate checks.[36] "We don't think it will go into the piggy bank," Riggs said. "They may hold onto them longer for a security blanket, but then they may get to the point where they say 'I've been through enough. When Bob Johnson sat down with his wife and two teenage children, the Homer Glen family had to resolve to spend their rebate check on a vacation or a membership to Riviera Country Club and Sports Center in Orland Park.[29]

Steve O'Brien (Rochester, N.Y.) -- Taxpayers will begin receiving the rebate payments first, depending on the last two digits of their Social Security numbers.[32] Be sure to sign your return before you mail it in. That's all you need to do, Scharin said; the IRS will process your rebate based on the information you provide on that form (such as your name, address, Social Security number, and amount of your qualifying income).[33] To qualify, a child must be eligible under the Child Tax Credit and have a valid Social Security number. The payments phase out at certain income levels, so those with higher incomes may receive a reduced payment or even no payment.[32] Qualifying income includes any combination of earned income and certain benefits from Social Security, Veterans Affairs, or Railroad Retirement. Both people listed on a "married filing jointly" return must have valid SSNs to qualify for the payment, if only one has a valid SSN, neither can receive the payment.[32] People who have no filing requirement must have at least $3,000 in qualifying income. Qualifying income includes any combination of earned income, nontaxable combat pay they elect to include in earned income and certain payments from Social Security, Veterans Affairs and Railroad Retirement.[19]

For more information, see http://www.irs.gov/newsroom/article/0,,id=179201,00.html. If someone claiming to be from the IRS calls or e-mails you about the payments and asks you for a Social Security, bank account or credit card number, it's a scam. The scammers are trying to get your personal and financial information so they can empty your bank account, run up charges on your credit card and more.[32] If the last two digits of your Social Security number are between 00 and 20, your rebate will be deposited directly into your account Friday.[33] Social Security numbers : The rebates are being distributed according to Social Security numbers, specifically the last two digits.[5] The date the rebates will arrive depends on the last two digits of the primary filer's Social Security number.[32]

What if you didn't fill out the "direct deposit" section of your return? The Treasury will mail you a check, using a schedule that's also based on the last two digits of your Social Security number.[33] Today, the first direct deposits are beginning. That's for people whose social security numbers end with 0-0 through 2-0.[53]

Again, the last two digits of your social security number affects when you'll receive your money.[34] The delivery of checks sent by mail is also based on the recipients Social Security Number.[2] Payments are going out according to the last two digits of primary filer's Social Security number. "The lower those last two numbers are, the faster you'll be getting it," said Illinois IRS spokeswoman Sue Hales. What to remember: It's not too late to file.[29] The order in which the IRS sends out payments will be based on Social Security numbers.[12]

One-time payments will be sent to at least 117 million low- and middle-income households, 20 million senior citizens living off of Social Security and 250,000 disabled veterans.[12]

If the last two digits of your Social Security are between 21 and 75, your rebate will be deposited directly into your account May 9.[33] I have not worked in 8 to 10 years. My only income is Social Security, and now this other form mentioned. a W-2.[33]

Within the next week or so, the IRS plans to begin mailing notices to people who'll be receiving rebates. Unlike the general notices mailed earlier this year, these notices will be specific to your situation, letting you know exactly how much you can expect to receive and when you can expect to receive it, Riley said. [33] Qualifying parents : Will receive an additional rebate of $300 for each child, if the child was under age 17 at the end of 2007 and lives with the parents for more than half the year.[5] The rules exclude Floyd Henderson, 62, a Pasadena, Calif., electrician who makes about $82,000. "I think it's unfair -- everyone should be getting it," he said. If he were to receive a rebate? "I'm definitely not in a spending mood.[13] The rebates are part of a $150bn plan that aims to boost growth and encourage spending, and avert a recession.[24]

The rebates, which are expected to reach 130 million households, range up to $600 for an individual and $1,200 for a couple.[11] Eligible individuals will receive between $300 and $600. Those who are eligible and file a joint return will receive a total of between $600 and $1,200. Those with children will get an additional $300 for each qualifying child.[32] A. Taxpayers will receive up to $600 ($1,200 for married couples), and parents will get an additional $300 for each eligible child younger than 17.[10]

Individuals with a taxable income of less than $75,000 and couples with less than $150,000 are eligible for up to $600 per person, $1,200 per couple and $300 per child.[13] Payments will be as much as $600 for individuals who made $75,000 or less and $1,200 for married couples with household incomes as high as $150,000.[41]

To be eligible for a full rebate, single tax filers must have 2007 adjusted gross income (AGI) below $75,000 and joint filers must have AGI below $150,000.[12] Eligibility for the rebates phases out starting at $75,000 adjusted gross income for individual taxpayers and $150,000 for married couples.[27]

Booming fuel and food prices and shriveling incomes and home values have pushed consumer confidence to a quarter-century low, according to a survey by Reuters and the University of Michigan. It found that 30 percent of people would buy things with their rebates.[13] "Consumers are getting hit by so much today," said Chuck Keagle, who owns several Inland restaurants including Cask 'n Cleaver, Sycamore Inn and Blackwood American Grill. "My guess is they're going to take those checks and maybe save some of it, but they're mostly going to reduce their debt." Keagle said those worried about gas prices, jobs and the elections might decide to take a break and splurge on a meal at local family-style restaurants. It likely won't make a deep impact on restaurateurs' bottom lines.[26] The Inland region has been losing jobs since late 2007, home values continue to decline amid low demand, and rising gas and food prices are squeezing family budgets. People are facing debts not only from past credit card purchases, but also from taking equity from their homes.[26]

'''What we don't know is how much will be saved and how much will be spent,''' said Professor Joe Marchese, who specializes in personal investing and money management. He advises people to take care of debts first, especially those with high interest rates, such as credit cards.[32]

"When you have four children, I'm sure some of it will be siphoned off to pay for the necessities of life," Bell said. "But this is an opportunity to pay down some obligations that eventually will help free up money for other things." A survey by Truliant Federal Credit Union of more than 700 members found that 90 percent either planned to pay down debt or add to their savings with their stimulus money.[9] "To pay off credit-card debt, that's not the aim." Thirteen percent of the survey respondents cited other ways they planned to spend the money, including buying a computer, fixing up their houses - even pre-purchasing a headstone.[8] Forty-four percent planned to pay bills or reduce debt. Twenty-five percent said they would save the money, and 3 percent said they would invest it. Some financial experts in Utah say those answers are on the right track.[8]

"I'm using mine to pay off credit card debt," said Rascon. "It would be nice not to have to do that, but right now, that's what I need to take care of." She's not alone. Lockport resident Bill Doyle sees the upcoming arrival of his check as a perfect time to be prudent.[29] Anne Kist of Jupiter plans to put her tax-rebate check in the bank. John Batista of Stuart will use his to pay off credit card bills.[10] If you've been eyeing that particular retro Cuisinart mixer, or just feel like going on a shopping spree, keep an eye out for any tax-rebate related deals. Like some Arizona residents, you can also use your rebate check to pay off some of those pesky bills.[45]

Millions of Americans are looking forward to getting their rebate checks from the Federal Government.[53] Millions of Americans will start receiving a little relief Monday in the form of rebate checks from the Government.[50]

The checks were for about half the amount, and instead of the anticipated 130 million that are going out in the next few months, the IRS sent only 112 million payments in 2001, said Illinois IRS spokeswoman Sue Hales. If spending trends stay true to what they were seven years ago, NPD Group restaurant industry analyst Bonnie Riggs predicts the health, apparel and restaurant industries will benefit. By mid-June, she expects the restaurants - which have been hurting - to start experiencing the boost. [29] The department announced the early arrival of the payments Thursday after saying last month that it would begin sending out the money on May 2. As of next week, 800,000 tax filers daily will begin to have their checks directly deposited Monday, Tuesday and Wednesday.[16] They are just a few of the items Southlanders will spend their stimulus checks on once they start popping up this week.[29] "But it is clear that the tide has changed. "For paying down debt and paying living expenses to get such high percentages in our survey, it is clear that the economy has taken a toll on our member-owners financial needs." Bryan Gower of Kernersville said that he and his wife have a special reason for putting his stimulus check into savings.[9] Cobra Nav ONE 5000 At this time last year, a GPS device may have seemed like an extravagance, but as they become more and more commonplace, it's hard for a lot of people to imagine life without one. Apple Mac mini (1.83-GHz) Has your desktop tower kicked the bucket? Maybe your stimulus check is a sign it's time to make the switch to Mac.[47] Some Southlanders will oblige. Having just purchased a house, Tinley Park resident Mike Martello is emptying his pocketbook to pay for paint and furniture. That won't eat into his stimulus check. He has a different plan for that extra cash.[29] Whatever the value of the checks, retailers are ready to cash in. Sears was one of the first companies to announce its "Stretch Your Stimulus Check" promotion. The offer, good at Sears, Kmart or Lands End, gives customers the option of converting the entire value of their stimulus check into gift cards and bonus gift cards equal to 10 percent of the check.[29] Many retailers are offering a 10 percent bump if you trade your stimulus check for gift cards to be spent only in their stores.[36]

"I wouldn't just splurge." With two children now in the picture, she's using the stimulus check to invest in a van. For Carol Jackson, being practical means her check is going straight to the water bill.[29]

For many taxpayers, Gunther said, "The stimulus is not viewed this time as something extra. Even Robinson, the furniture-store owner, may lavish his rebate on a gas pump, he said. "Everyone is feeling the pinch of gasoline prices," he said. "It affects everything, including the cost of furniture." [5] I think the whole "stimulus payment" is a big sad joke. It's not enough to help anybody in trouble with their mortgage, or anyone trying to fill their gas tank every week. It's like throwing someone a nerf ball as a float when they're drowning.[45] NEW YORK (CNNMoney.com) -- The federal government, eager to boost the flagging economy, will start distributing special stimulus payments Monday - four days earlier than expected.[16] Families with children will get 300 dollars for each child. They are part of a 168-billion dollar stimulus package that the administration hopes will spur consumer spending and revive the economy.[52] The rebates are intended to rejuvenate the economy by encouraging consumer spending.[31] The aim is to boost consumer spending and help mitigate problems caused by the slowing economy.[16]

Lots of extra dough will be available for the spending. So''' I want to take this opportunity to remind you again to help stimulate our LOCAL economy. (Consider this column a Public Service Announcement.[15]

I'm going to try to stay afloat because the economy is horrible," Ruffin said. Even with that realization, Debbie Durham is spending her check - but not on herself.[29]

An economics professor from Monroe Community College said the stimulas check will get some people spending.[32] Consumer spending accounts for 70 percent of the country's economic growth. "What they'd ideally like everybody to do is to go out to Wal-Mart or Home Depot or Macy's and buy something," said Chris McCarty, director of the University of Florida's consumer confidence survey.[10]

Consider: If you invest $1,200 in an individual retirement account and continue to save $1,200 a year while earning an average annual return of 8 percent, you'll have more than $21,000 in 10 years.[31] Married couples who filed joint returns and don't earn more than $150,000 can see up to a $1,200 rebate.[29] Couples making less than $150,000 would receive rebates of up to $1,200.[16]

About 130 million households will receive rebates during the next few months, Bush said.[40] President Bush announced last week that the rebates would go out a bit earlier than expected.[21] In what is quickly shaping up to be a week focused primarily on Sen. Barack Obama's pastor, the main news out of the White House will likely not come until Friday when President Bush speaks on the economy in St. Louis.[39] I am going to do what President Bush said to do and spend it! I will be heading to New Orleans for a long weekend of fun while helping out the local economy.[14]

President Bush said the money Americans get can offset the high prices at the gas pumps and at the grocery store.[48] Last week President Bush announced checks would go out sooner than expected. (c) 2008 Newsroom.[38]

Along the lines of Bush's suggestions for a pro-business stimulus, the legislation includes tax breaks for businesses designed to promote investment.Treasury Secretary Henry Paulson has indicated that the stimulus will help create some 500,000 jobs before year-end. The President has stated that 'We are in a slowdown,' although he has not gone as far as many economists to state that the U.S. is in an outright recession.[20] "Obviously our economy is in a slowdown," Bush said. Earlier this week, the president denied the nation was in a recession, instead saying, "We are in a slowdown."[23]

Congress voted the money in February as part of a $168 billion package to stimulate an economy slowed by record mortgage foreclosures, job cuts and rising prices of food and fuel.[41] I should get $600. It will help me, but I do not think it will help stimulate the economy.[14] "Our consumer research showed three out of five homes, despite the economy, were very interested in making small home improvements," Sears spokesman Larry Costello said. "We wanted to help them stretch their dollars." Following suit, Radio Shack and Supervalu - Jewel-Osco's parent company - announced their own versions of stimulus promotions Thursday.[29] Schumer serves as chairman of the Joint Economic Committee of Congress. She focused on working towards an additional stimulus package to further boost the economy.[20] Virtually everything the "fiscal conservatives" have done since Ronald Regan have taken us closer to that kind of system. They make it sound like their brand of economics is good for the little guy so you have all these blue color folks thinking republicans will help the economy.[46]

With the economy faltering, the nation's unemployment rate has climbed to 5.1 percent, the highest since September 2005, when it suffered from the devastating blows of the Gulf Coast hurricanes. Job losses in the first three months of this year neared the quarter-million mark.[4] A trio of crises ''' housing, credit and financial ''' has threatened to plunge the economy deep into recession. The economy grew at an anemic 0.6 percent in the final three months of last year and is believed to have gotten even weaker in the first three months of this year.[23]

A: Yes. Assuming you filed a 2007 federal income-tax return earlier this year, and you're eligible for a rebate, it will arrive in the first round, as mentioned above.[33] Just remember that your rebate won't go out in the first round, as described above; you'll receive it after the IRS processes your return.[33] Most retailers want you to bring in your rebate check and they'll exchange it for gift cards on the spot. This first wave of rebate checks is being direct deposited and you'll receive your rebate the same way you requested when you filed your taxes.[36] The first round of rebate checks starts May 16 and will continue through July 11.[33]

Assuming you're eligible for a rebate, it'll be deposited directly into your bank or credit-union account, or mailed to you in the form of a check.[33] I would like my refund rebate check direct deposite into my checking account.[11]

Local residents' reluctance to spend the rebate check isn't surprising to economists.[9] If the last two digits of your number are between 00 and 09, your rebate check should be in the mail by May 16.[33] If it turns out that your 2008 income and number of children would have qualified you for a larger rebate than the one you received, you'll be sent the difference.[12] Median individual income went down by at least $1,000. It should be compared to the average number of new private sector jobs created from '92 to 2,000: 1,760,000 per year.[46] A $3,000 tax boon could pay for a whole year's life, auto, and renters' - and/or umbrella - insurance for most people.[18] If you receive the full $3,000, that money could pay for a good portion of an associate's degree.[18] "I'm probably going to put it in savings." Those responses coincided with a CNN poll, which found that only one in five people plan to buy something with their money, and nearly half plan to use it to pay bills.[7] Then if you have money left, use it for that plasma screen TV if that's what you want. '''I'''m going to save probably more than half of it and then use the rest to pay for summer vacation with gas and hotels and offset those expenses,''' said Nikki Dechau, mother of three, who has had to make adjustments because of gas prices.[32] The gas crisis is at a massive inflation, and the high prices are affecting every american family. The cost of living has gone up so much, you can feel it almost every part of your budget, it simply cost more to eat, travel, live, pay all those utility bills and more.[11] Some experts are doubtful the move will work. One expert says, "Americans are still shopping each week but they are spending less, because they can't afford to pay their credit card bills and they may be worried about a mortgage foreclosure in the future."[50] Whether you'''re using your extra check for a new car, new furniture, as part of a down-payment for a new house, to fix up your old house, or just pampering yourself with lots of smaller items or services, you should pay attention to make sure the company you'''re spending with is a good-neighbor to our community.[15]

Many indicate if you have the money, you'll probably get the discount whether you're spending your rebate or not.[7] Many may be eager to use it to feed something besides gluttonous food and fuel costs. "With something like this (rebate), there's always a rise in spending, including spending on put-off expenses," Wilson said.[5]

Here's a better idea: Use your rebate to jump-start a retirement savings plan.[31] The rebate is part of a $168 billion economic-stimulus plan approved by Congress in February.[9] The program calls for rebates of up to $600 for single filers making less than $75,000.[16] Single filers with AGI below $75,000 will get rebates of as much as $600.[12]

You may be eligible for an additional rebate amount of up to $300 for each child you have who was under 17 as of Dec. 31, 2007.[33] Families with children would receive an additional payment of $300 per child.[27] Filers who do not owe income taxes but have at least $3,000 in income would get a $300 payment.[16]

Supplemental Security Income (SSI) does not count as qualifying income for the stimulus payment.[32] Even people who normally do not have a filing requirement may be eligible for the stimulus payment.[19]

Instead of giving the government a loan all year, use the extra cash in your paycheck to invest in extra mortgage payments, retirement savings or repaying debt. [18] Andrew Housser is a co-founder and CEO of Bills.com, a free one-stop online portal where consumers can educate themselves about personal finance issues and compare financial products and services. He also is co-CEO of Freedom Financial Network, LLC, a national consumer debt resolution firm that has served more than 7,500 clients and manages more than $250 million in consumer debt.[18] Overall, the Treasury will distribute more than $110 billion to 130 million taxpayers by July and hopes to get the first $50 billion out by the end of May, DeSouza said.[16] "About 3.9 million taxpayers in North Carolina will get a total of about $3.4 billion in stimulus payments," said Mark Hanson, a local spokesman for the Internal Revenue Service.[9]

Restoration Hardware has an "economic stimulus voucher" for $100 off any purchase of $750 or more or the option of getting a no-interest/no-payment credit card with a $750 purchase.[36] Even $1,000 can provide a cushion so you do not have to turn to credit cards or payday loans to cover unexpected expenses. Store these savings in a money market fund or rolling CDs so that the money earns interest and cannot easily be spent -- but can be accessed in an emergency.[18] At the Outer Banks : One-week (June 8-14) rental of a four-bedroom, three bath beach house in Southern Shores ($1,000), with money left for pizza and BrewThru runs.[44] In the Times-Dispatch classifieds : A 1987 Pontiac Fiero ($1,000) with money left for about four tanks of gas.[44]

"We won't be going out to spend it as quickly as we can. As a taxpayer, I just go through with my income taxes and that will help offset some of those costs." Some say they plan to invest the money.[28] Are you expecting to receive one of the tax rebates? How do you plan to use it? Do you think it will help? Send us your comments using the form below.[24] To receive a payment in 2008, individuals who qualify will not have to do anything more than file a 2007 tax return.[17] The vast majority of people who file a 2007 income tax return qualify, and many who don't regularly file a tax return may qualify as well.[32] If you happened to file your TAX RETURN by MAIL, the earliest your rebate will be mailed out to you is May 16.[34] If you think you may be eligible, even if you don't normally file a tax return, please check it out.[19]

Guam, the Northern Mariana Islands and the U.S. Virgin Islands have mirror Code tax systems. American Samoa and Puerto Rico do not, but the Treasury Department is authorized to forward an equivalent amount to those jurisdictions to implement their own rebate program similar to the new law's rebates," it added. [17] This is it the week that the U.S. Treasury starts distributing rebates under the new federal economic-stimulus law.[33]

Wilson, for one, foresees a possible increase in sales of "big-ticket" items. That's good news for Danny Robinson, owner of Discount Furniture Co. in Jackson. "I'm expecting to do business out of this rebate," he said, "which is good, because, I feel the economic slowdown."[5] U.S. Rep. Ciro D. Rodriguez, D-San Antonio, warned consumers Friday that there might be criminals posing as IRS agents. Scam artists are using the economic recovery rebates as a way to steal taxpayers' identities, he says.[35] According to a tax briefing from CCH, a Wolters Kluwer Business: "Rebates will also be available to qualifying taxpayers who reside in U.S. territories or possessions with tax systems that mirror or do not mirror the Internal Revenue Code.[17] After the rebates were mailed out, personal consumption expenditures rose, according to the Princeton University study, "Household Expenditure and the Income Tax Rebates of 2001."[8] WASHINGTON (AP) — Tax rebates will start going out today, earlier than previously announced.[4] Some hotels, resorts and travel agencies already have an eye on your tax rebate, reports Laura Bly in USA Today.[51]

If you can be claimed as a dependent on another taxpayer's return, you won't receive a rebate. [5] Late Filing: If you filed a return by April 15, you can be pretty much assured that you'll receive your rebate according to the schedule listed above.[33]

If you have credit card debt, pay that down first; in effect, you'll reap an immediate return of 18 percent or more. [31] My rebate will go immediately to paying my bills, mortgage, or taxes, whichever comes first, and I'm in the minority by not having any credit card debt.[14]

"The problem is many people are likely to spend it on servicing existing debt, and that's money that's already been spent." [10] "I'm looking forward to it," said Brenda Liffengren. Many experts say consumers will spend about two-thirds of their new money within the first three months of getting it.[49] The federal government wants you to spend that money and hopefully stimulate the economy.[28] "To the degree somebody spends the money, that raises consumption, and there's a multiplier that goes through the economy,'' said Jason Furman, a senior fellow at the Brookings Institution in Washington.[41]

People are not necessarily making any more money, raises have diminished b/c the economy has slowed so far down. I am a middle-class working woman with a family, who does not abuse the gov systems that alot of women in this country do.[11] "I do hope the economy can be improved; otherwise, I don't know what the American people, or any other people, are going to do.[5] The collapse of the once high-flying housing market has been the biggest weight on the economy. With many people watching their single-biggest asset ''' their home ''' falling in value, they have been less inclined to spend, weakening the economy.[23]

"Isn't it better to join a health club than buy a big-screen TV and get the gift that keeps on giving?" said manager Chris Somerville. How people spend their checks is up to them, Crystal Gena believes, but the Palos Hills resident is sticking to one rule.[29] Some retailers have ideas on how you can spend your money. One grocery store chain says shoppers can exchange their tax-rebate checks for store gift cards. and the store will add more money to the card. Sears promises customers a gift card in the amount of their check, plus 10%. Other stores are offering similar programs.[48] "The check's definitely going to help." It's also a welcome bonus for Christine Loomis, who wishes she could splurge with her check. "It must be nice to use that money for a vacation," said Loomis, who also lives in Tinley Park.[29]

For an individual with a $600 check, that means 10 months of unlimited access to an 80,000 square-foot fitness and recreation center, tennis and racquetball facilities, barbecues and luaus in the summer, and what sealed the deal - an indoor and outdoor pool, complete with a towering slide.[29] As I now understand it, many families will receive $600 or more, depending on the number of kids and other factors.[15] Parents will also receive $300 per child under 17; there is no cap on the number of qualifying children eligible.[12]

"Unless the administration gets OPEC to increase oil supply, American consumers are going to be in for a scorching summer of $4 gasoline with no relief in sight," Schumer said. [22] The total payout will be less than a third of the $389 billion Americans spent on gasoline last year.[41]

Shopping was chosen by just 7.4 percent. "In past years, people might have said they were going to use their refund to take a vacation or to go on a shopping spree," said Ginger Salt, a senior vice president of markets for Truliant.[9] I opened a new gift & jewelry shop early last year. It's not doing so well because people can't afford anything extra thanks to the gas prices.[11]

Just in the nick of time, because I'''m pretty sure I'''m getting ready to start paying $4.00 a gallon for gas in the not-too-distant future, since I have to pump Premium when I fill up the Bat-Mobile.[15]

'I am pleased that the Treasury Department has worked quickly to get the money to the American people,' Bush said in a brief statement. [20] Bush said paper checks would begin going out on May 9, a week earlier than previously announced.[45] Add to that the great grasp of media manipulation on the part of the administration, the herd mentality in politics, the media, even, and especially, among economists. The key fact is this: during the Bush administration the U.S. economy "grew" by 37 percent.[46] Treasury Department says it will deposit the first 800,000 payments four days earlier than expected in effort to boost economy.[16] If you don't have direct deposit, the I.R.S will send out the first round of paper checks on May 9th.[53]

No checks will be distributed Thursday, and 5 million payments will be made Friday.[16] Now if you didn't owe any income taxes, you may still be eligible to receive a check.[2] "The strain of the economic downturn on middle- and low- income families demands, in my view, consideration of a second stimulus package,'' House Speaker Nancy Pelosi said at a press conference in Washington today.[40] The extra cash is part of the economic stimulus package.[37]

"Of course, the kids heard about the rebate and have already spent it 600 different ways. My 17-year-old wants one of those iPhones." Thirty-two percent of taxpayers said they plan to invest their windfall. Jimmy Baker is one of them. [5] We'd like to know how you plan to spend your rebate. Share your plans with us in our comments section at the bottom of this page.[34]

In honor of all the surplus spending money, here are some suggestions of ways to spend it.[45]

"Around one-third to two-thirds'' of the rebate amounts were spent, the panel found. Some economists predict this year's rebate will produce similar results. Others, including J.D. Foster, a senior fellow at the Heritage Foundation in Washington, say the effect will be negligible. [41] The rebates, which are expected to reach 130 million households, include 600 dollars for an individual and 1,200 dollars per couple.[52]

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3. VOA News - Bush Says Tax Rebates Can Help Revive US Economy
4. The Associated Press: Tax rebates start going out today, earlier than planned
5. To spend or save? Checks anticipated | clarionledger.com | The Clarion-Ledger
6. 'Your rebate is on the way' | TheNewsTribune.com | Tacoma, WA
7. Many Valley residents will use rebate checks for bills
8. Deseret News | Little excitement over checks
9. Plans vary on use for rebate
10. Taxpayers reluctant to spend rebates
11. Tax rebates are on the way! | CONSUMER WATCH | WHAS11.com | News for Louisville, Kentucky
12. First stimulus checks arrive - What you need to know - Apr. 28, 2008
13. Tax 'rebates' begin arriving by direct deposit today | ajc.com
14. BBC NEWS | World | Americas | Readers plan for Bush tax rebate
15. Government Tax Rebate Checks Are In The Mail
16. Stimulus payments to go out ahead of schedule - Apr. 24, 2008
17. Marianas Variety
18. WRCB Channel 3 Chattanooga News, Weather | 8 Smart Ways to Use Your Tax 'Windfall'
19. Stimulus payments on their way
20. Economic Stimulus Checks To Begin Arriving Today [] - RTTNews, Today's Top Stories, Global Newswires, ToDay's Top News,Global Business news .
21. The Associated Press: Tax rebates should start showing up in bank accounts Monday
22. Bush says rebates going out Monday will boost economy - washingtonpost.com
23. Bush says rebates should help economy | ajc.com
24. BBC NEWS | Business | US to send out $100bn in rebates
25. Bush: Rebates on the Way | Market Features | BAC BSC C GS JPM MS - TheStreet.com
26. Inland retailers dont expect people to spend most of their federal rebates | Business | PE.com | Southern California News | News for Inland Southern California
27. CQ Politics | Tax Rebates Start to Flow Monday as Debate Over Second Stimulus Drags On
28. WWSB ABC 7 Florida - Sarasota, Bradenton, Venice, North Port, Siesta Key Breaking News, Weather, Sports and Traffic on the Suncoast | Economic stimulus checks to arrive earlier than originally planned
29. How will you spend your check? :: The SouthtownStar :: News
30. Tax rebates scheduled to arrive in some bank accounts today | KPIC CBS 4 - News, Weather and Sports - Roseburg, OR - Roseburg, Oregon | News
31. A smarter rebate | pnj.com | Pensacola News Journal
32. Tax Rebate Payments Begin April 28 - 13WHAM.com
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34. wltx.com | Economic Stimulus Payments Start Today
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36. ABC News: Retailers Eye Tax Rebates Arriving Today
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39. The Washington Times, America's Newspaper
40. Bloomberg.com: U.S.
41. Bloomberg.com: U.S.
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43. Closing Glance: Apparel cos. close up ahead of rebate checks - AP - National Business News - Portfolio.com
44. Ways to use a $1,200 rebate - Richmond, Virginia, Business News and Financial Information - inRich.com
45. Tax Rebate Checks 2008: How To Spend Them - Living on The Huffington Post
46. The Myths and Harsh Effects of Bush's Economic Class War | Corporate Accountability and WorkPlace | AlterNet
47. 16 Ways to Spend Your Economic Stimulus Check - Reviews by PC Magazine
48. Stimulus Checks Begin Arriving Today - News - WSAV.com - Savannah / Hilton Head
49. wcco.com - Economic Stimulus Checks To Be Mailed Monday
50. Top Story Home
51. The Travel Industry Wants Your Tax Rebate - Jeanne Leblanc | Coach Class
52. WZTV FOX 17/Nashville
53. Rebate Checks are Coming | WKBW - TV Buffalo, New York | Local News

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Readers plan for Bush tax rebate

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