It seems that milions of US taxpayers will be receiving a Rebate soon. All to help speed up the slowing economy.
Those eligible are:
- Single tax payers w/ Adjusted Gross Income below $75k - $600
- Joint filers w/ Adjusted Gross Income below $150k - $1200 (Parents will receive an additional $300 per child). There is no limit for the number of children.
If you make more than the income cap, then you might get a partial rebate. The rebate checks will not have to paid back and should start rolling out in May.
To make sure that you don't miss your rebate, you must file your 2007 Tax Return.
For those looking to purchase a home, a wise decision would be to save the rebate for your down payment or closing costs. If you are still not quite ready to purchase your home because of credit issues, I suggest taking a look at your credit report and taking care of any delinquencies.
Since the housing market is slow, now is the time for a buyer to buy because in our market (East Texas), it is a buyers market. Now is the time to buy!!
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