Update: Tax Rebate Checks Being Sent A Week Early

Start checking your accounts….

President Bush announced Friday that the Federal Government will begin depositing tax rebate checks into the accounts of taxpayers a week earlier than previously announced. Rebate checks are being sent early in an effort to push more money into the economy. The government is hoping that taxpayers will spend their rebate checks as soon as they get them so that the country can prevent moving into a deeper economic recession.

Not every one will be getting their rebate checks early. If you owe back child support or a past due student loan bill…expect your rebate to be reduced by the amount you owe or be taken all together.

Another thing to keep in mind: taxpayers who received their 2007 income tax refund by direct deposit will receive their tax rebate check by that same method. Taxpayers who received their 2007 refund by check should expect to receive their rebate check by the same method.

Check out the article we wrote a few weeks back for more information on the tax rebate payment schedule and calculator. Use the information in the article to see when you can expect your rebate. Push it up by a week early and that should give you a good estimate for when you might expect to see your funds.

With today’s record gas prices, high food & utility bills…what plans do you have for your rebate check? Will you pay off a bill, save it or buy a new t.v. or other electronic item?

Until next time,

Mahogany City